Gold spiked in Asian hours Wednesday, trading as high as $1,220.35 an ounce compared with a low of under $1,208 hit on Tuesday.
Federal Reserve Mining News
Prices fall as Fed raises rates, signals more to come. Investors exit SPDR Gold ETF at fastest pace this year.
Shares in most gold miners fell Monday as the precious metal price dropped more than 1% in early trading and was steadily heading to its largest single-session loss of the month.
A resilient dollar extended its rally thanks to strong US economic data that further made a Federal Reserve interest-rate increase next month as certain as death and taxes.
“The big problem is that monetary policy is contagious and central bankers no longer have any bullets left," said precious metal expert Diego Parilla.
Jim Rickards' latest book "The New Case for Gold" reveals that the Fed is holding massive amounts of gold at Fort Knox and West Point.
As a result of a slightly higher dollar and investors’ decision to sell their recent gains for the precious metal.
Prices hit $1274.70 an ounce Friday morning, up 1% from their closing yesterday and their highest level since February 2015
The metal has climbed about 16% this year in the face of tumbling equities and fears of a global economic slowdown.
The last time the yellow metal dropped in value for three consecutive years was between 1996 and 1998, and experts say prices will fall even further.
Blame Fed Chair Janet Yellen, as she said earlier this week that a rate hike in December was a “live possibility” if the economy continued to perform well.
The precious metal price remained rooted in a very narrow range as trading volumes were limited Monday, a public holiday in the US and Canada.
The US has suspended the futures market on the Nasdaq index, as panicking traders have driven it down 5% — the maximum allowed under Wall Street rules.
Prices of the metal have been fallen in the second half of this year as the prospect of a rate rise, the first since 2006, would lift the opportunity cost of holding bullion.
Following a dramatic midnight raid on gold prices last week, Mike Gleason reached out to Chris Powell, Secretary Treasurer at the Gold Anti-Trust Action Committee to discuss possible gold price manipulation.
Monday’s was the biggest one-day decline in Chinese stocks since an 8.8% drop on Feb. 27, 2007.
Greece defaulted at the end of June, and metals investors expected higher prices in July. What we expected isn’t what we got. It isn’t the first or last time markets surprised investors. Do lower spot […]
Gold futures for August delivery declined for the third day Tuesday, hitting $1,177.30 an ounce in early trading on the Comex in New York.
Gold prices were up for the fourth straight session on Monday, hitting a fresh two-week high.
The precious metal has lost over 8% so far this year.
Gold for April delivery on the Comex division of the New York Mercantile Exchange was last at $1,184.20 per ounce, or about $12 below where it was before the report was released.
Late last year, with the U.S. economy experiencing falling unemployment and seemingly low inflation, observers were extremely confident that the Federal Reserve would move judiciously in 2015 to restore 'normal' interest rates sooner rather than later.
Money managers Doug Loud and Jeff Mosseri of Greystone Asset Management say that if we haven't seen the bottom, we will soon.
Friday’s rally was just a brief break for the precious metal.
I have made no effort to hide the fact that I am very bullish of gold. I am, after all, writing this for a site called GoldStockBull, and in fact my debut submission to the site was […]