Gold Market
Gold prices edged higher on Friday but are set for a weekly decline of 2.1% as rising US Treasury yields and expectations of further Federal Reserve rate increases dampened investor appetite.
Gold has fallen almost a quarter from its January high as US Treasury real yields rise. The metal is competing with bonds that now pay more above inflation, and the trend may continue until the Fed stops raising its rate forecasts.
NSE MD & CEO Ashishkumar Chauhan has detailed the exchange's plans to diversify revenue streams, highlighting the live Electronic Gold Receipts (EGR) product and a pipeline that includes bond index futures and electricity contracts.
Market analyst Ira Epstein observes a resurgence in gold, silver and copper. Silver is currently outperforming gold, while tariff changes and upcoming economic data may influence prices.
Canadian junior Military Metals has secured a C$100,000 ($71,000) exploration grant from Nova Scotia for diamond drilling at the historic West Gore antimony-gold project, a past producer of strategic metals during World War One.
Gold and silver saw increased trading volume even without fresh economic data on Yom Kippur. Analyst Ira Epstein points to geopolitical talks and yield curve shifts as key influences.
An Elliott Wave analyst has revised his counts for the stock market, crude oil, and gold, pointing to a retracement in equities and further upside in oil.
CTAs have reversed recent gold buying, but discretionary investors are providing support, according to TD Securities. The bank expects any near-term weakness to be limited and to offer buying opportunities.
Gold held near $4,350 an ounce as lower oil prices eased inflation concerns and traders weighed the Federal Reserve's rate path after its first hike since 2023.