Gold wavers after US jobs surprise, but long-term outlook remains bullish
Gold prices wavered after a surprisingly strong US jobs report, but analysts see the pullback as temporary amid rising debt, bond yields, and geopolitical tensions.
Gold Market
Analysis
Deeper looks at the forces setting the gold price.
Gold price holds near $4,400 as mixed signals keep traders cautious
Gold opens the week near $4,400, caught between rate hike fears from strong US jobs data and support from a stable dollar. Technical indicators suggest consolidation.
Gold’s two-week slide tests support but long-term trend intact
Gold posted a second consecutive weekly loss, settling at $4,477 on Friday. The week’s low of $4,329 was below the prior support zone before a bounce.
Gold Slides Nearly $100 After Strong US Jobs Data
Gold dropped nearly $100 on Friday after a surprise surge in US nonfarm payrolls boosted rate-hike expectations. The metal is set for a second consecutive weekly loss, and traders now look to next week's inflation data.
Central banks shift gold to London ahead of possible system shock
De Nederlandsche Bank has shipped 86 tonnes of gold from New York and Ottawa to London, citing geopolitical unrest. France has already emptied its gold from the New York Fed. The moves point to a deeper concern about liquidity in a crisis.
Central banks added 23 tonnes of gold in July, pace slows
Central banks bought a net 23 tonnes of gold in July, the World Gold Council reported. Year-to-date purchases of 130 tonnes lag last year, with higher prices prompting caution.
Gold market outlook: Jeffrey Christian on Fed, India demand and bond volatility
CPM Group's Jeffrey Christian examines the macroeconomic forces affecting gold, from the Fed's Jackson Hole meeting and India's jewellery market to bond market volatility and his outlook to year-end.
Sibanye approves copper-gold projects in Tasmania and South Africa
Sibanye-Stillwater has approved its Mt Lyell copper-gold project in Tasmania and the Burnstone gold project in South Africa, advancing two long-life developments as stronger metals prices boost its finances.
Gold Near Two-Week Low as Hawkish Fed and Oil Surge Bite
Gold remains close to a two-week low near $4,460 as Fed Chair Warsh’s hawkish tone and oil-fuelled inflation fears push September rate hike probability above 65%.