Posts Tagged ‘Copper futures’
Gold and Oil News - August 24, 2024 16:06
Gold and Copper Markets Respond to Powell
On Friday gold jumped over 1% to unprecedented highs after the dollar and Treasury yields fell. The movements followed remarks from Federal Reserve Chair Jerome Powell that suggested an interest rate reduction in September. Concerns about inflation near the Fed’s 2% goal added to signs of lower interest rates, as Powell’s comments did. For a […]
US Stock Market Faces Turbulence and Mixed Commodity Reactions
The US stock market took another hit on Friday and managed to finish a disastrous week in the red as poor economic news coupled with weak earnings from some major tech players continued an alarming five-day collapse. The decline was itself heightened by recently-released non-farm payroll figures that showed a modest 114,000 jobs added to […]
Strength in Gold and Copper Continues – But for How Long?
As we start the new week, gold has displayed gains during the early parts of Monday’s trading, this implies that the precious metal is potentially reversing from its past week’s declines. However, despite the challenges it faced in the past week, overall gold remains in an uptrend, and it is supported by a number of […]
Copper Prices Sliding On Chinese Slowdown Concerns
Major concerns were raised on Monday on continued demand from China which sent the copper price and main industrial metals sliding yesterday. Covid continues to be a pest in China, with lockdowns in major cities and ports suffering backlogs of unloading ships. After China promised more support to revive an economy which has been ravaged […]
Gold Declines on Global Economic Concerns
Gold futures fell on Tuesday due to rising concerns over global economic scenario. While stronger dollar also kept commodities under pressure, investors were also more focused on corporate earnings. Gold futures contract for December delivery fell 0.6 percent or $10.70 to settle at $1,765 per ounce on the Comex division of the New York Mercantile […]
Gold Futures Plunge on US Fed’s Operation Twist Program
Gold futures declined on Wednesday mainly in reaction to the US Federal Reserve’s decision to continue its “Operation Twist†program till the end of the current year. US Fed’s “Operation Twist†program comprises of twisting the yield curve by selling short term securities while buying long term securities. The US Federal Reserve also decided to […]
Gold Gains on Weak Inflation data
Gold futures jumped on Thursday extending its rally for the fifth consecutive session. Weak inflation data and expectations of another round of quantitative easing by US Federal Reserve boosted the safe haven status of the precious metal. Gold futures contract for August delivery gained $0.20 to settle at $1,619.60 per ounce on the Comex division […]
Gold Futures Decline on Weak Economic Data
Gold futures fell on Thursday in reaction to lower than expected US economic data which also affected the US stock markets. As per the latest data, payrolls in private sector increased by 133,000 in May as compared to expected increase of 150,000. Moreover, the US Commerce Department also released its data on jobless claims which […]
Gold Ends Higher on Eased Concerns over Europe’s Banking Sector
Gold futures gained on Thursday in reaction to eased tensions over the European banking sector. Moreover weak US economic data kept the greenback under pressure which eventually supported the commodities. Gold futures contract for June delivery gained 0.1 percent or $1.30 to settle at $1,595.50 per ounce on the Comex division of the New York […]
Gold Slightly Gains as Concerns on Euro Zone’s Debt Fade
Gold futures slightly gained on Tuesday after a volatile session as the concerns over euro zone debt problems eased while US stock markets closed higher. Gold future contract for June delivery gained 0.1 percent or $1.40 to settle at $1,651.10 per ounce on the Comex division of the New York Mercantile Exchange. Gold plunged in […]
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- Strength in Gold and Copper Continues – But for How Long?
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