Gold holds near four-month high as traders eye US inflation data
Gold holds near a four-month high after a 5% weekly gain, with traders focused on US PCE inflation data and Fed Chair Warsh's speech at Jackson Hole for policy clues.
Gold Market
Original summaries of the reporting that moves the gold price, with every source linked.
Gold holds near a four-month high after a 5% weekly gain, with traders focused on US PCE inflation data and Fed Chair Warsh's speech at Jackson Hole for policy clues.
Gold traded near $4,676 an ounce, up 7% in four sessions, as US Treasury buybacks weakened the dollar. Investors await Fed chair Kevin Warsh at Jackson Hole, while trade tensions add to safe-haven demand.
Gold pulled back sharply from a 15-week high of $4,697 on Tuesday, weighed by a stronger US dollar and rising oil prices amid geopolitical tensions. However, technical indicators and robust physical demand suggest the bullish trend may persist.
Gold and silver prices opened lower on the MCX on Tuesday, pausing a rally, as markets turned cautious ahead of US inflation data and a speech by Fed Chair Kevin Warsh at Jackson Hole.
Gold rose to a three-month high of $4,681 on Monday after US Treasury sanctions on Iran-linked entities. ETF inflows jumped. Focus turns to Fed Chair Warsh's speech at Jackson Hole.
Gold prices advanced for a fifth straight session as Asian equities declined, mirroring a technology-led selloff on Wall Street. Markets await Nvidia earnings and Fed guidance.
Gold briefly rose above $4,680, its highest since mid-May, as the US dollar weakened on political turmoil. Technical indicators suggest the bullish trend remains intact.
Societe Generale says gold has broken out of a small base formation and reclaimed its 200-day moving average, extending a rebound. Key support is near $4,510, with hurdles at $4,730/$4,770 and $4,890.
A comparison of home storage, bank safe deposit boxes, and professional vaults for physical gold, covering the key trade-offs of each option.