Gold Market
Original summaries of the reporting that moves the gold price, with every source linked.
Gold briefly climbed above $4,400 per troy ounce on Tuesday, bolstered by weak US employment figures and strong ETF inflows, before Commerzbank warned of headwinds from rising oil prices.
Gold hit a two-month high of $4,435 per ounce before pulling back as surging crude oil prices renewed inflation fears and pushed market expectations toward a potential Federal Reserve interest rate hike.
Gold climbed beyond $4,400 per troy ounce on Tuesday to hit a two-month high, driven by soft US employment figures and rising Middle East geopolitical risks.
Gold moved higher to around $4,352 per troy ounce as delayed negotiations over the Strait of Hormuz and upcoming US inflation figures kept market participants on standby.
Gold took a breath on Monday, trading near $4,345 per ounce after last week's 7% surge. Markets are weighing Federal Reserve rate expectations ahead of crucial US inflation figures.
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.
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 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.
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.