Gold prices ended sharply higher Wednesday, getting a boost as the U.S. dollar weakened, with the ICE U.S. Dollar Index trading near the session's lows as gold trading settled.
December gold was at $1,292 an ounce, after settling with a gain of $10.50, or 0.8%, at $1,292.20 an ounce.
Prices for the metal then held ground near their settlement level after minutes from the Federal Open Market Committee™s meeting earlier this month showed the central bank viewed a near-term increase in...
The U.S. dollar fell to a four-week low against its major rivals on Wednesday, pummeled by mixed data and a mixed message from the minutes of the Federal Reserve™s last policy meeting.
The minutes confirmed that a near-term interest rate increase was all but assured, but showed doubt over persistently low U.S. inflation grew, casting doubt on the pace of rate increases in 2018.
The ICE U.S. Dollar Index was down 0.8% at 93.242. The broader WSJ U.S. Dollar Index also slipped 0.8% to...
Gold traders need to be patient as the market remains stuck in a narrow trading range, according to one commodity analyst who sees growing potential for higher prices by the end of the year.
Ole Hansen, head of commodity strategy at Saxo Bank, said that a flatter yield curve -- as the spread between two-year and 10-year bond yields has narrowed to the lowest point in 10 years -- and a struggling U.S. dollar against the Japanese yen are two positive signs for the gold market.
œI am watching...
Gold holds advance as dollar weakens after minutes from latest Federal Reserve meeting show that some officials expressed concerns over low inflation, hinting at divisions over future path of U.S. monetary policy.
Bullion for immediate delivery -0.1% to $1,290.64/oz at 9:21am in Singapore, after +0.9% Wednesday: Bloomberg generic pricing.
Bloomberg Dollar Spot Index flat after -0.7% Wednesday to lowest close in six weeks.
S&P 500 Index closed slightly below...
Gold snaps 2-day gain as traders weighed minutes of the latest Federal Reserve meeting and as U.S. markets close for the Thanksgiving holiday.
Bullion for immediate delivery -0.4% to $1,287.64/oz in London. Prices +1.2% in previous 2 days.
In other precious metals, Silver -0.3% to $17.0971/oz, Platinum -0.4% to $934.81/oz and Palladium -0.2% to $1,004.35/oz.
Source : Bloomberg