Gold futures gave up much of their declines Thursday, but still finished at their lowest in about a year.
President Donald Trump voiced his disagreement with the Federal Reserve's plan for gradual increases in interest rates, prompting a decline in the benchmark dollar index which, in turn, helped to lift gold off the lows of the session.
August gold settled at $1,224 an ounce, down $3.90, or 0.3%, for the session. The settlement marked gold's entry into correction territory - down more than...
The dollar was on the defensive against the yen and euro early Friday after U.S. President Donald Trump expressed concern about the currency's strength and the Federal Reserve's interest rate increases.
Trump said in an interview with CNBC on Thursday that a strong dollar puts the United States at a disadvantage, adding that the Chinese yuan œwas dropping like a rock.
A strong currency tends to make a country™s exports more expensive.
Trump also showed displeasure about the Fed™s...
Gold drops to trade near lowest in a year as investors weigh Federal Reserve Chairman Jerome Powell's comments on interest rate outlook, as well as President Donald Trump's intervention that he's 'not thrilled' at Fed's tightening trajectory.
Bullion for immediate delivery slipped 0.5% at $1,216.78/oz at 9:47am in Singapore, after hitting $1,211.63 on Thursday, lowest since July 2017: Bloomberg generic pricing. That metal lost 2.2% this week to head for fifth weekly...
Gold prices early Thursday extended a downdraft that has pushed the metal toward its lowest close in more than a year, in an atmosphere of rising benchmark rates for U.S. government debt and the continuation of a U.S. dollar rally.
August gold traded $12, or 1%, lower at $1,215.90 an ounce early Thursday.
Other metals also showed signs of faltering, September silver tumbled by 32 cents, or 2.1%, to $15.260 an ounce, on track for its lowest close since early 2016.
Gold trades at lowest in a year as Federal Reserve Chairman Jerome Powell™s comments on U.S. employment and inflation help to sustain expectations for another interest-rate increase in September.
Bullion for immediate delivery -0.8% to $1,217.37/oz at 10:58 am in London
Bloomberg Dollar Spot Index +0.4% after +0.5% past 2 days
In other precious metals: Silver -1.7% to $15.2994/oz, also at lowest level this July last year. Platinum -1.6% to $805.49/oz;...