United Kingdom

Swati Verma

REFILE-PRECIOUS-Gold's rally loses steam as investors drift towards dollar

10 Jul 2020

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

Gold's rally loses steam as dollar rebounds

09 Jul 2020

Gold prices retreated on Thursday, a day after vaulting to nearly nine-year highs, as investors embraced the safe-haven greenback in the face of record U.S. coronavirus cases.

PRECIOUS-Gold smashes through $1,800 level as investors bolt for safety

08 Jul 2020

* Gold-hungry investors drive ETF stockpile to new record in June

Gold smashes through $1,800 level as investors bolt for safety

08 Jul 2020

Gold rallied past the technical $1,800 threshold on Wednesday, scaling its highest since September 2011, as investors bolted for safety from the novel coronavirus and central banks implemented powerful stimulus packages to cushion its economic impact.

PRECIOUS-Gold a whisker away from $1,800 level as virus cases spike

07 Jul 2020

(Updates prices) * Spot gold hits highest since November 2011 * Platinum jumps 2.8%, scales near one-month high * Business 'getting nervous again' as virus surges-Fed's Bostic * Interactive graphic on spreading coronavirus: https://tmsnrt.rs/3aIRuz7 in an external browser By Shreyansi Singh and Swati Verma July 7 Gold bounced back on Tuesday, within a striking distance of the key $1,800 per ounce level, as a sharp jump in COVID-19 cases boosted hopes for more accommodative monetary policy measures and demand for the safe-haven metal. Spot gold jumped 0.7% to $1,796.08 per ounce by 2:01 p.m. EDT (1801 GMT). U.S. gold futures settled up 0.9% at 1,809.90 per ounce, having earlier hit its highest since September 2011 at $1,810.80. Gold rose to its highest since November 2011 at $1,796.80 an ounce earlier, just a few dollars away from the $1,800 psychological level. "Whenever there is fear, that is always a supporting factor for gold, whether it's coronavirus, or fear of the economy not doing well," said Michael Matousek, head trader at U.S. Global Investors. "If your portfolio is underweight gold and if it looks like gold might continually start to create a new rally, you will want to add to it." Massive stimulus measures to limit the economic damage from the coronavirus pandemic has supported gold, widely viewed as a hedge against inflation and currency debasement. Prices have gained more than 18% so far this year. The surge in U.S. coronavirus cases has made business owners "nervous again," Atlanta Federal Reserve Bank President Raphael Bostic said on Tuesday. Gold staged a comeback, having dropped to a session low of $1,773.37 an ounce earlier. "We had early weakness in prices, seen as a buying opportunity by bullish traders reckoning prices will go higher from here and we indeed pushed to a new nearly nine year high in gold futures today," Kitco Metals senior analyst Jim Wyckoff. "Gold and silver traders are also looking further down the road at the inflationary implications of all the central bank measures that have infused cash into the system." Silver rose 0.6% to $18.31 an ounce. Palladium slid 0.8% to $1,923.01 per ounce, while platinum jumped 2.8% to $835.88, rising to its highest in nearly one month earlier. (Reporting by Shreyansi Singh and Swati Verma in Bengaluru; Editing by Richard Chang and Marguerita Choy)

PRECIOUS-Gold sprints to near 8-year top as virus crisis rages on

30 Jun 2020

* Gold marches towards its third straight monthly rise * Platinum eyes best quarter since Sept 2012 * Silver on track for best quarter since end-2010 * Palladium set for worst quarter since Sept 2011 (Adds comments, updates prices) By Swati Verma and Shreyansi Singh June 30 Gold surged to its highest in nearly 8 years on Tuesday as mounting fears of a resurgence of new coronavirus cases kept safe-haven demand for gold alive, setting the precious metal on path for its biggest quarterly gain since March 2016. Spot gold jumped 0.5% to $1,779.44 per ounce by 2:09 p.m. EDT (1809 GMT). The session high was $1,785.46, its highest since October 2012. U.S. gold futures settled up 1.1% at $1,800.5. Tai Wong, head of base and precious metals derivatives trading at BMO, said commodity trading advisers and algorithms were encouraged as gold headed toward highs of $1,780. "Bulls are delighted with what will almost certainly be a strong close, which provides the basis for a push to $1,800 in short order." Gold, long considered a hedge against inflation and currency debasement, was headed for its third month of gains, driven by stimulus measures to support economies decimated by the pandemic. "The underlying bullish fundamentals in the gold market remain and those include the COVID-19 that is still prompting safe-haven demand, the central bank stimulus that has been record setting," and could cause inflation in the future, said Kitco Metals senior analyst Jim Wyckoff. Some U.S. states have reversed reopenings and closed businesses to combat a spike in cases. U.S. Federal Reserve Chair Jerome Powell on Monday said the outlook for the world's biggest economy was "extraordinarily uncertain". "U.S. yields have continued to grind lower and the result of that is that real rates are printing new lows" which has boosted the precious metal, said Daniel Ghali, commodity strategist at TD Securities. In other metals, platinum rose 1.5% to $817.83 an ounce, but was looking to post its first monthly fall in three and biggest quarterly gain since September 2012. Palladium jumped 1.4% to $1,929.55 per ounce. The metal was set for its fourth monthly decline and worst quarter since September 2011. Silver climbed 1.5% to $18.13 and was on track for its best quarter since end-2010. (Reporting by Shreyansi Singh and Swati Verma in Bengaluru; Editing by Bernadette Baum)

PRECIOUS-Gold pulls back from an over 7-1/2 year high

24 Jun 2020

* For an interactive graphic tracking the global coronavirus spread, open https://tmsnrt.rs/3aIRuz7 in an external browser (Updates prices)

Gold retreats from an over 7-1/2 year high

24 Jun 2020

Gold weakened after hitting an over 7-1/2-year high earlier on Wednesday, with investors selling the precious metal along with other asset classes as a rise in global coronavirus cases led a flight to cash.

Asia gold: Demand on the mend, but price rise deters buyers

19 Jun 2020

BENGALURU/MUMBAI Physical gold demand sagged across major Asian hubs as prices resurged this week, although there were expectations that the market may be starting to recover.

Asia Gold-Demand on the mend, but price rise deters buyers

19 Jun 2020

* Chinese gold demand appears to be rebounding- Goldman Sachs

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