Edition:
United Kingdom

K. Sathya Narayanan

PRECIOUS-Gold turns positive from 2-mth low on dovish Fed, dollar pull back

24 Sep 2020

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PRECIOUS-Gold slumps over 1.5% on dollar rebound, economic recovery hopes

02 Sep 2020

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Gold gains, but off two-week high on robust U.S. data

01 Sep 2020

Gold prices edged up on Tuesday as the dollar weakened, although a better-than-expected U.S. manufacturing data improved hopes about a U.S. economic recovery and pulled the metal down from a near two-week high.

PRECIOUS-Gold falls from 2-week peak on robust U.S. data

01 Sep 2020

* Interactive graphic tracking global spread of coronavirus: open https://tmsnrt.rs/3aIRuz7 in an external browser

PRECIOUS-Gold rises but set for first monthly decline in five

31 Aug 2020

* Silver heads for fifth straight monthly gain * World stocks on track for fifth straight monthly gain * Interactive graphic tracking global spread of coronavirus: open https://tmsnrt.rs/3aIRuz7 in an external browser (Updates prices) By K. Sathya Narayanan Aug 31 Gold prices rose on Monday as the U.S. dollar fell to a two-year low on a dovish policy shift by the U.S. Federal Reserve, although the metal was set for its first monthly decline in five. Spot gold gained 0.2% to $1,967.68 per ounce by 02:09 p.m. EDT (1809 GMT), after hitting its highest since Aug. 19 at $1,976.14. For the month, the metal was down 0.3%, having surged to an all-time peak of $2,072.49 on Aug. 7. U.S. gold futures settled up 0.2% at 1,978.60. "The weaker dollar and the anticipation that we are going to get further dollar weakness has led to some small increases (in gold)" said Jeffrey Sica, founder of Circle Squared Alternative Investments. The dollar fell to an over two-year low, pressured by the Fed's latest average inflation target policy, which will allows rates to stay low even if inflation rises a bit in the future. Low interest rates tend to support gold, which is a hedge against inflation and currency depreciation. "At present there is less risk aversion in the global marketplace, which is somewhat constraining the safe-haven metal's bulls," Kitco Metals senior analyst Jim Wyckoff said in a note. A gauge of global stocks was on track for a fifth straight month of gains. "There is a significant concern that the (equities) market might have gotten extended and there might be some profit taking coming, which may lead to a rotation back to gold," Sica said. Gold has gained about 29% this year, supported by economic uncertainty stemming from the pandemic as well as the upcoming U.S. elections. Elsewhere, silver jumped 2.7% to $28.23 an ounce, on track for a fifth monthly gain. Platinum eased 0.3% to $928.36, while palladium rose 1.7% to $2,243.17. Both were set for their second straight monthly gain. (Reporting by K. Sathya Narayanan in Bengaluru; Editing by David Gregorio and Steve Orlofsky)

Gold inches up, but set for first monthly decline in five

31 Aug 2020

Gold prices edged up on Monday as the U.S. dollar weakened, although record high equities capped bullion's gains and set it for its first monthly decline in five.

PRECIOUS-Gold surges over 2% on waning dollar, Fed policy shift

28 Aug 2020

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Gold surges over 2% on waning dollar, Fed policy shift

28 Aug 2020

Gold rebounded over 2% on Friday, a day after a steep sell-off, as the U.S. dollar weakened and the U.S. Federal Reserve signaled a prolonged low interest rate strategy.

PRECIOUS-Gold dives 2% as U.S. Treasury yields gain after Fed comments

27 Aug 2020

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Gold dives 2% as dollar, yields gain after Fed comments

27 Aug 2020

Gold slumped over 2% in volatile trading on Thursday as the U.S. dollar and Treasury yields rose after Federal Reserve Chair Jerome Powell shifted the central bank's inflation target in a widely expected move.

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