• Home
  • Terms and Conditions
  • Privacy Policy
  • Copyrights & DMCA
  • Cookie Policy
  • Contact Us
Monday, May 23, 2022
Daw Rimiz
No Result
View All Result
  • Login
  • Home
  • Business
    • Technology
    • Market
    • Gold
    • Stock
    • Money
    • Travel
  • Food
    • Dessert
    • Drinks
    • Fast food
    • Recipe
  • Health
    • Fitness
    • Diet
    • Exercise
    • Sports
  • Lifestyle
    • Fashion
    • Music
    • Kids
  • Services
    • Errand Services
    • Customer Service
    • Care Services
    • Cleaning Services
    • Online Services
    • Office Services
    • Home Services
    • Transport Service
    • Writing Service
  • Pages
    • Terms and Conditions
    • Privacy Policy
    • Digital Millennium Copyright Act Notice
    • Cookie Policy
  • Contact Us
  • Home
  • Business
    • Technology
    • Market
    • Gold
    • Stock
    • Money
    • Travel
  • Food
    • Dessert
    • Drinks
    • Fast food
    • Recipe
  • Health
    • Fitness
    • Diet
    • Exercise
    • Sports
  • Lifestyle
    • Fashion
    • Music
    • Kids
  • Services
    • Errand Services
    • Customer Service
    • Care Services
    • Cleaning Services
    • Online Services
    • Office Services
    • Home Services
    • Transport Service
    • Writing Service
  • Pages
    • Terms and Conditions
    • Privacy Policy
    • Digital Millennium Copyright Act Notice
    • Cookie Policy
  • Contact Us
No Result
View All Result
DawRimiz
No Result
View All Result
Home Business

Strong dollar pulls gold prices below $1,300/ounce levels

Donna Gilbert by Donna Gilbert
January 10, 2022
in Business, Gold
0
Strong dollar pulls gold prices below $1,300/ounce levels
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Gold is under a lot of pressure right now as it lost critical support at $1,300,” said Phillip Streible, senior commodities strategist at RJO Futures, say experts.

Strong dollar pulls gold prices below $1,300/ounce levels 1
Gold prices fell more than 1% on Thursday, slipping below the key $1,300 level, as robust economic data from the United States boosted the dollar, taking the sheen off the safe-haven metal. Spot gold was down 1.3% to $1,290.34 per ounce as of 1:55 p.m. EDT (1755 GMT). US gold futures settled 1.6% lower at $1,293.3.

Article Summary show
READ ALSO
Experienced ZERO DOWN BANKRUPTCY Attorney at My Arizona Lawyers
Price for Gold – How Much Gold Is Worth Today?

READ ALSO

Experienced ZERO DOWN BANKRUPTCY Attorney at My Arizona Lawyers

Price for Gold – How Much Gold Is Worth Today?

“Gold is under a lot of pressure right now as it lost critical support at $1,300,” said Phillip Streible, senior commodities strategist at RJO Futures. “Producer prices index came up better than expected, showed a little bit of inflation. That could potentially get the U.S. Federal Reserve to get acting as far as raising rates. Also, the dollar is a little bit stronger, leading to a sell-off,” Streible said.

The U.S. dollar index, which measures the currency against a basket of six rivals, rose following reports that March producer prices posted the most significant rise in five months. After weekly jobless claims fell to the lowest since 1969.
A strong U.S. dollar makes gold costlier for investors holding other currencies. Meanwhile, European Union leaders gave Britain another six months to leave the bloc, and analysts said the move made gold look unattractive.

“A delayed Brexit is not good for gold as it takes some risks off the markets,” said Jeffrey Christian, managing partner of CPM Group.

Gold’s break below $1,300 will be seen as a negative bias in charts used by technical traders, analysts and traders said.

“While gold is still range-bound in the $1,275 to $1,325 area, it is becoming a trading vehicle for many who sell the upper range and buy the lower range,” George Gero, managing director at RBC Wealth Management, said in a note.

On Wednesday, dovish views from major central banks failed to help gold as it was already priced into the markets, analysts said, adding investors were looking for more catalysts to buy gold.

Lower interest rates reduce the opportunity cost of holding non-yielding bullion. The U.S. Federal Reserve’s minutes restated its view on the risks of a global economic slowdown, while the European Central Bank kept its ultra-easy monetary policy unchanged.
Spot platinum was down 1.2% at $890.34 per ounce. Palladium shed 2% at $1,360.38 per ounce, while silver slipped 1.9% to $14.92.

Related Posts

Experienced ZERO DOWN BANKRUPTCY Attorney at My Arizona Lawyers
Stock

Experienced ZERO DOWN BANKRUPTCY Attorney at My Arizona Lawyers

April 24, 2022
Price for Gold – How Much Gold Is Worth Today?
Gold

Price for Gold – How Much Gold Is Worth Today?

April 22, 2022
how does a mortgage broker make money
Money

how does a mortgage broker make money

April 20, 2022
A Day in the Life of a Market Watcher
Market

A Day in the Life of a Market Watcher

April 17, 2022
Create Your Gold Trading CFD Account and Start Making Money Now
Gold

Create Your Gold Trading CFD Account and Start Making Money Now

April 10, 2022
How to Write a Business Plan for Your New Business?
Business

How to Write a Business Plan for Your New Business?

April 5, 2022
Next Post
China Market falls ahead of trade data

China Market falls ahead of trade data

No Result
View All Result

Categories

  • Business
  • Care Services
  • Cleaning Services
  • Customer Service
  • Dessert
  • Diet
  • Drinks
  • Errand Services
  • Exercise
  • Fashion
  • Fast food
  • Fitness
  • Food
  • Gold
  • Health
  • Home Services
  • Kids
  • Lifestyle
  • Market
  • Money
  • Music
  • Office Services
  • Online Services
  • Recipe
  • Services
  • Sports
  • Stock
  • Technology
  • Transport Service
  • Travel
  • Writing Service

Recent Posts

  • Fast Food for Diet: How to Lose Weight FAST
  • Drinking Apple Cider Vinegar – Is It Really Healthy?
  • Gluten Free Dessert Recipes with Protein
  • Check Out The Tasty New Movie Theater Food Menu!
  • Experienced ZERO DOWN BANKRUPTCY Attorney at My Arizona Lawyers
  • Home
  • Terms and Conditions
  • Privacy Policy
  • Copyrights & DMCA
  • Cookie Policy
  • Contact Us

© 2021-2022 Dawrimiz All Rights Reserved Dawrimiz.

No Result
View All Result
  • Home
  • Business
    • Technology
    • Market
    • Gold
    • Stock
    • Money
    • Travel
  • Food
    • Dessert
    • Drinks
    • Fast food
    • Recipe
  • Health
    • Fitness
    • Diet
    • Exercise
    • Sports
  • Lifestyle
    • Fashion
    • Music
    • Kids
  • Services
    • Errand Services
    • Customer Service
    • Care Services
    • Cleaning Services
    • Online Services
    • Office Services
    • Home Services
    • Transport Service
    • Writing Service
  • Pages
    • Terms and Conditions
    • Privacy Policy
    • Digital Millennium Copyright Act Notice
    • Cookie Policy
  • Contact Us

© 2021-2022 Dawrimiz All Rights Reserved Dawrimiz.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In