Gold ended lower on Tuesday as a rise in U.S. retail sales contributed to a stronger U.S. dollar, pressuring prices for the precious metal.
The upbeat retail sales number, however, also lifted prices for silver, brightening the metal™s industrial demand prospects.
August gold trading on Comex fell $2.30, or 0.2%, to settle at $1,411.20 an ounce. On Monday, the yellow metal booked its highest most-active contract settlement since July 3, which saw a finish at $1,420.90”the highest since...
Gold futures climbed Wednesday to settle at their highest since May 2013, finding support from weakness in the dollar and expectations that the Federal Reserve will cut key interest rates later this month.
"The dollar has eased back a little...allowing buck-denominated gold and silver to break further higher," said Fawad Razaqzada, technical analyst at Forex.com. "As well as a weaker dollar, these precious metals have found support from safe haven flows amid weakness on Wall Street, where...
Gold futures rose slightly Tuesday, extending a climb above a two-week peak for bullion as U.S. stocks traded near all-time highs on the session.
August gold trading on Comex added $1.80, or about 0.1%, to $1,415.40 an ounce. On Monday, the yellow metal booked its highest most-active contract settlement since July 3, which saw a finish at $1,420.90”the highest since May 2013, FactSet data show. September silver meanwhile, picked up 5 cents, or 0.4%, to $15.42 an ounce.
Gains for precious...
Oil futures ended with a loss on Wednesday, with U.S. prices at their lowest in about two weeks, as U.S. crude supplies posted a smaller-than-expected weekly decline and stockpiles of gasoline and distillates saw sizable gains.
August West Texas Intermediate oil lost 84 cents, or 1.5%, to settle at $56.78 a barrel on the New York Mercantile Exchange. That was the lowest front-month contract finish since July 2, according to FactSet data.
Source : Marketwatch
The dollar nursed light losses on Thursday, weighed down by lower U.S. yields and a rebound in the pound from 27-month lows.
The dollar index versus a basket of six major currencies was flat at 97.200 after shedding 0.2% the previous day.
The index had climbed to a one-week peak of 97.444 the previous day on stronger-than-expected U.S. retail sales and a slump in sterling. But it nudged lower as Treasury yields fell in the wake of weak U.S. housing market data and concerns about the...