Gold futures experienced a dip on Monday, stepping back from the mid-$1,900 range. This shift was prompted by the dollar’s ascent to 10-month highs in response to the Federal Reserve’s recent caution that U.S. interest rates would maintain their elevated position for a more extended period. The December contract, the most active in New York’s…
In a recent twist of events, gold experienced a decline, touching a one-week low as the Federal Reserve made a commitment to raise interest rates until annual inflation levels reach their 2% target. This announcement has left some market observers speculating that more challenges may lie ahead for the precious metal. The December contract, which…
Gold futures have been on an impressive winning streak for the past five days, a feat not witnessed since January, according to Dow Jones Market data. This remarkable ascent persisted even after the recent Federal Reserve announcement, further solidifying the market’s resilience. In its latest update, the Federal Reserve opted to keep its benchmark fed…
Waiting Game: The gold trading community appears to be in a holding pattern ahead of this week’s monetary policy update from the Federal Reserve and other central bank rate decisions. The most-active gold futures contract on New York’s Comex, December, settled at $1953.70 per ounce, with a minimal increase of just 30 cents for the…
Gold Prices Climb as Markets Anticipate Steady Fed Rates and U.S. Government Shutdown Fears On Monday, gold prices experienced an uptick, driven by market expectations that the Federal Reserve will maintain current interest rates during its upcoming meeting. Simultaneously, growing concerns regarding a potential U.S. government shutdown have amplified safe-haven demand for the precious metal….
Gold experienced a significant 1% surge on Friday, thanks in part to a weaker dollar and a surge in safe-haven purchases. The catalyst for this uptick in demand? The United Auto Workers union initiated strikes at three major automakers in Detroit. Additionally, optimism regarding a possible halt in U.S. interest-rate hikes provided further reinforcement for…
Gold prices remained steady near a three-week low on Thursday, as the latest data on U.S. producer prices and retail sales sparked concerns about the prolonged period of higher U.S. interest rates. This scenario had a ripple effect, boosting the value of the dollar and bond yields. Around 1:47 p.m. EDT (1747 GMT), spot gold…
Amazon.com, Inc (NASDAQ: AMZN) experienced an initial dip in Thursday’s trading session, only to rebound above Wednesday’s high-of-day. This shift followed the sale of 4,000 company shares by Doug Herrington, CEO of Worldwide Amazon Stores. The rise in Amazon’s stock contributed to a slight upturn in the S&P 500, counteracting Apple’s initial drag on the…
The electric vehicle revolution is undeniably underway, but it’s no cakewalk, even for German automakers who once led the automotive world in design and cutting-edge tech. The IAA motor show kicked off in Munich, shifting the spotlight away from Mercedes Benz and Porsche to Tesla Inc, which is unveiling an enhanced version of its top-selling…
Softbank’s Arm is gearing up for a highly anticipated public debut next week, set to become the year’s largest IPO. Jim Cramer voiced his enthusiastic support for the company, predicting an overwhelming demand for its chip designs. Here’s what you need to know: Arm is eyeing a valuation close to $54 billion for its forthcoming…
