One in three UK adults regret not investing in gold over the past five years – during which time the yellow metal gained 128% in value – while nearly a third (30%) regret missing out on silver, according to new research from The Royal Mint.
Gold challenges $4,500 resistance as a bullish flag and developing golden cross strengthen the technical outlook while Fed hike fears ease.
Spot gold prices are higher and spot silver prices are near steady in early U.S. trading Wednesday, as a softer U.S. dollar supported precious metals while elevated Treasury yields and higher crude oil kept the rate-relief trade in check.
9Kitco News) – Gold's supply-and-demand dynamics, diversification benefits and resilience across market environments are unique among all commodities, and the yellow metal should be treated as a distinct portfolio allocation, according to Jeremy De Pessemier, asset allocation strategist at The World Gold Council (WGC).
Gold prices are getting a boost from falling rate hike expectations, but Asian investors and central banks never abandoned the yellow metal, and prices will gain an additional 11% between now and year-end, according to strategists at Wells Fargo Investment Institute.
Hopes for a stabilizing U.S. housing market were weakened after the number of potential home buyers came in well below expectations last month, according to the latest data from the National Association of Realtors (NAR).The U.S. pending home sales index fell 2.3% in July, the NAR announced on Tuesday. The data was worse than forecasts, as economists expected a 0.3% rise.
Spot gold and silver prices are lower in early U.S. trading Tuesday, as a stronger oil-risk premium and higher long-end Treasury yields offset fading expectations for a September Federal Reserve rate hike.
Gold prices are trading near session lows under $4,400 per ounce this morning after the latest data showed the U.S. housing market delivering a mixed performance last month.Housing starts fell 12.4% in July to a seasonally adjusted annual rate of 1.239 million units, the Commerce Department announced on Tuesday. The data was worse than expected as economists looked for a decrease to 1.350 million units.
Recent economic data is buoying gold prices despite flagging optimism of an Iran deal, while silver production is surging even as bar and coin demand rebounds from last month's lows, according to precious metals analysts at Heraeus.In their latest update, the analysts noted that gold prices trended steady to slightly higher last week following the prior week's strong rally.
Gold prices were coming off their earlier session highs after manufacturing activity in the New York region rose further into expansionary territory this month, according to the latest data published by the New York Federal Reserve.The regional central bank announced on Monday that its Empire State manufacturing survey improved to 20.6 in August, its highest reading in over four years, after posting a 15.6 print in July. The data was better than expectations, as consensus forecasts called for a decline to 10.2.
Gold rose in early trade. Weaker-than-expected U.S. labor data and softer inflation prints eased concerns that the Federal Reserve will need to remain aggressively hawkish, ANZ said.
Gold prices pushed higher this week, as fading expectations for a September Fed rate hike helped the precious metal extend its August rebound despite intermittent pressure from a firmer dollar, rising oil prices, and profit-taking.