Gold futures settled higher on Wednesday, then inched lower in electronic trading after the Federal Reserve held a key U.S. interest rate steady at a range of 1.5% to 1.75%, as expected.
Following the Fed news, which came after gold futures settled, February gold was at $1,473.10 an ounce in electronic trading. It had ended the session up $6.90, or 0.5%, at $1,475 an ounce.
Gold prices ended lower on Thursday as President Donald Trump's tweet that a trade deal with China is near rallied the stock market, dulling demand for the haven metal.
Gold prices had been trading higher early Thursday, with uncertainties surrounding a U.K. election and dovish stances by the Federal Reserve and the European Central Bank helping to provide support.
February gold fell by $2.70, or 0.2%, to settle at $1,472.30 an ounce, down significantly from the day's high of...
The pound came under pressure early Wednesday after a fresh YouGov poll predicted a slimmer-than-expected lead for Prime Minister Boris Johnson™s Conservative Party in a General Election that™s now less than 24 hours away.
Sterling slipped 0.3% to $1.3124 from a level of $1.3155 seen late Tuesday in North American trading. The FTSE 100 was up 0.4% in early action, benefiting from a weaker pound as many multinational companies listed on the index earn the bulk of their revenue outside the...
Gold prices are flat in early Asian trade before the Fed's interest rate decision later in the day.
Gold prices could rise to $1,550/oz next year mainly because the low or negative interest rates in the global economy are expected to stay thanks to the expansionary monetary policies pursued by major central banks, Commerzbank says.
Gold prices could also get support from the unresolved U.S.-Chinese trade conflict and other potential political risks, the German bank says. Spot gold is flat at...
Oil futures finished lower on Wednesday after U.S. government data showed an unexpected climb in domestic supplies of crude oil, as well as sizable gains in gasoline and distillate stockpiles.
Prices showed little reaction to the Federal Reserve™s decision to hold its benchmark interest rate unchanged in a range of 1.5% and 1.75%.
On Wednesday, West Texas Intermediate crude for January delivery declined 48 cents, or 0.8%, to settle at $58.76 a barrel on the New York Mercantile Exchange. On...