Treasury yields and dollar, while investors anticipated an aggressive interest rate hike from the Federal Reserve when it concludes a two-day policy meeting. Spot gold was up 0. Today a slight retreat in yields is supporting gold prices Gold is going to be fairly range-bound," said Bart Melek, head of commodity strategies at TD Securities. Meanwhile, the dollar index was down 0.
Market participants expect the Fed to raise rates by 50 basis points at the end of a two-day meeting on Wednesday in order to rein in soaring inflation, while comments by Chairman Jerome Powell will be scanned for further signals on rate hikes. Spot silver fell 4. With the ongoing lockdowns in China, industrial metals are struggling and US institutional investor who's bailing out a gold ETF by extension bails out of silver as well," independent analyst Ross Norman said.
Platinum dropped 5. The euro rose on Tuesday, drawing support from the European Central Bank's plans to raise interest rates to contain inflation, while the yen retested a year low as the Bank of Japan's ultra-loose monetary policy stance continued to weigh. Dollar index Silver drops to lowest since July European Markets. Euro higher as ECB officials affirm rate hike plans, new tool , article with gallery U.
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Spot gold firmed 0. Gold prices were flat on Monday after declining in the previous session, as an elevated dollar continued to make greenback-priced bullion less attractive for overseas buyers. Spot gold fell 0. Making green. Gold fell on Friday as a higher dollar and rising U. Treasury yields hit demand for greenback-priced bullion, and put prices on track for their biggest weekly drop since mid-May.
Spot gold dropped 0. Gold prices fell on Friday, as the dollar and U. Treasury yields recovered after declining in the previous session and put bullion on track for its biggest weekly drop in a month. Spot gold was last up 0. ET GMT. Celebrations and remembrances for Juneteenth, a federal holiday commemorating the end of legal enslavement of Black Americans, took place Saturday in Galveston, Texas, the Gulf Coast city where Juneteenth originated.
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Gold prices edged higher in choppy trade on Monday as a weaker dollar buoyed bullion demand, with a U.S. holiday expected to lead to thin trading during the. Currency Calculator. $. USD. Albania Lek (ALL), Angola Kwona (AOA) Gold, 1,, -- Currencies News · European MarketsAsian shares rise as. May 17 (Reuters) - Gold fell on Tuesday pressured by robust U.S. retail sales data and expectations of aggressive interest rate hikes.