Spot gold prices are sharply lower and spot silver prices are also weaker late Monday, as firmer Treasury yields, a stronger U.S. dollar and another oil-price spike pressured metals despite still-elevated geopolitical risk.
Silver and platinum are also moving lower as demand for risk assets declines.
Spot gold prices are lower and spot silver prices are also weaker in early U.S. trading Monday, pressured by a firmer inflation-risk backdrop as crude oil prices rebounded on renewed Persian Gulf tensions. Trading was thinner than usual overnight, with major markets in China, Japan and the U.K. closed for public holidays.
Gold prices drop below $4,560 as bearish momentum builds. Despite geopolitical safe-haven demand, technical indicators signal a potential slide toward $4,500.
Gold edged higher in early Asian trade amid signs of resilience in the precious metal.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.
Spot gold prices are slightly down and spot silver prices are modestly firmer in early U.S. trading Friday, as traders digest a heavy slate of global economic data and continue to assess the outlook for central bank policy following this week's major decisions.
Gold stabilises above the 0.382 Fib at $4,532 with bulls targeting $4,800, while silver struggles below $75 resistance as bears eye the $71.20–$69 support zone.
Gold was steady. The metal is under intensifying pressure due to the stagnation of diplomatic efforts to end the Middle East war, and the lack of near-term prospects for Fed monetary policy easing, XS.com said.
Gold prices cemented the worst two-month decline in history on Thursday, based on the price of heavily-traded futures contracts.
The bear case for gold? Just take a look at silver.