DJIA39807.37
LIVE47.29(0.12%)
NDX18254.69
LIVE-26.15(-0.14%)

Gold Futures Slip, Set to Take a Breather after Carving Out Fresh 9-Year Peak


Thursday, 9 July 2020 18:57 WIB

GOLDEMAS


Gold futures edged back early Thursday, giving up some of its gains after the precious metal scored another settlement at the highest since September 2011, but silver and platinum futures were staging a sharp advance.

Precious metals have mostly benefited from expectations for a lengthy period of government and central bank stimulus to support economies harmed by the COVID-19 pandemic, but some analysts say that July also has been a seasonally strong period for gold due to heightened physical demand and appetite from exchange-traded funds.

Softness in the U.S. dollar, which commodities tend to be priced in also has provided some support to precious metals, some experts say. The ICE U.S. Dollar index was up 0.1%, however, on Thursday, but the gauge of a half-dozen currencies has been down 0.8% so far this week, according to FactSet data.

August gold was off $3.90, or 0.2%, at $1,816.80 an ounce, a day after the most-active contract rose 0.6% to settle at the highest since Sept. 14, 2011, according to FactSet data. Meanwhile, September silver gained 16 cents, or 0.8%, at $19.320 an ounce, following its 2.5% surge on Wednesday to the highest level for a most-active contract since September 2019. For the week, silver futures have gained 5.8% so far.

Source : Marketwatch


RELATED NEWS

  • Silver held around $23 per ounce, not far from the 1-month low touched on September 14th, pressured by the Fed's hawkish pause, the potential U.S. government shutdown, and renewed concerns about indus...
  • Silver held around $23 per ounce, pressured by stronger dollar and higher Treasury Yields following the Fed's hawkish stance, as the regulator signaled one more hike and a slower monetary easing. Sti...
  • Silver decreased to a 4-week low of 22.6 USD/t.oz, pressured by a strength in the US dollar as signs of resilience in the US economy supported the outlook for the Federal Reserve to maintain borrowing...

POPULAR NEWS

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.