Gold Overcoming Dollar
- Gold
- Platinum
- Silver
Gold jumped 1% on Friday, helped by a weaker dollar and safe haven buying after United Auto Workers union kicked of strikes at three automakers in Detroit, while hopes around a likely pause in U.S. interest rate hikes lent further support.
Spot gold was up 0.7% at $1,924.27 per ounce by 1:56 p.m. EDT (1756 GMT).…
Technical momentum is supporting gold prices near a two-week high above $1950 an ounce as the precious metal sees little reaction to significantly disappointing housing construction data, highlighting ongoing weakness in the U.S. housing sector.
Housing starts dropped sharply by 11.3% to a seasonally adjusted annual rate of 1.283 million units last month, the Commerce Department…
Gold markets have rallied a bit during the trading session on Tuesday to clear the 50-Day EMA.
Whether or not we can hang on to this remains to be seen though, as we do have the FOMC meeting on Wednesday which will obviously have a major influence on not only gold, but the US dollar and…
Gold price (XAU/USD) continues to attract bids ahead of the Federal Reserve (Fed) interest rate decision, which will be announced on Wednesday.
The yellow metal extended its three-day winning spell on Tuesday as the Fed is expected to maintain the status quo on the grounds of falling inflation and an upbeat economic outlook.
Investors remain curious about…