China Central Bank Purchases Drive Gold Price Past $4,320
Spot gold rose above $4,320 per troy ounce as China's central bank extended its official reserve accumulation to 21 consecutive months alongside rising investment demand.
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Daily movements in the gold market and what is driving them.
Indian gold prices ease as global spot rates retreat from highs
Indian gold rates eased on Monday to INR 13,273.12 per gram as global benchmark prices pulled back from seven-week highs near $4,372 per ounce amid a strengthening US dollar.
Gold Pulls Back Above $4,300 as Stronger US Dollar Offsets Weak Job Data
Gold slipped from its highest point since mid-June as a stronger US dollar and Middle East geopolitical tensions countered the impact of weak US employment figures.
US Dollar Softens as July Payrolls Miss Federal Reserve Expectations
The US dollar fell following a weaker-than-expected July payrolls report, leading investors to reduce expectations for Federal Reserve interest rate increases ahead of key inflation figures.
NY Fed survey shows short-term US inflation expectations eased in July
American households lowered their one-year inflation expectations to 3.6% in July, while medium- and longer-term forecasts remained unchanged, according to the Federal Reserve Bank of New York.
Weakening US jobs data shifts focus back to Fed mandate
A surprise drop in US nonfarm payrolls and lower participation rates have highlighted fresh economic weakness, prompting analysts to re-evaluate the Federal Reserve policy outlook.
Euro Rises Near Seven-Week High as Soft US Jobs Data Weighs on Dollar
EUR/USD traded near seven-week highs around 1.1562 on Friday as a soft US payrolls report weakened the dollar ahead of key inflation data next week.
Gold Surges Past $4,300 as Weak US Jobs Data Weighs on Dollar
Gold prices climbed above $4,300 per troy ounce following a contraction in US jobs and a decline in the dollar, with attention turning to upcoming CPI data.
Gold surges past $4,300 as weak US payrolls dampen rate hike bets
Gold rose over 2.3% on Friday to trade at $4,340 after US employment figures showed a contraction of 23,000 jobs in July, dampening expectations of Fed interest rate hikes.