Business Maverick: Gold Calms Down After Wild Ride as Investors Weigh Next Steps

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 84%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

Gold held above $1,900 an ounce following wild swings as investors weighed the outlook for the metal’s record-setting rally, tracking moves in bond yields, a weaker dollar, as well as an uptick in risk appetite.

Spot bullion steadied, while futures dropped after U.S. stocks briefly surpassed their all-time closing high, curbing demand for haven assets. Gold had tumbled on Tuesday, then swung in a wide arc on Wednesday, as last-week’s rally likely spurred some technical selling and profit-taking.Even with the correction in prices, gold and silver remain among the best performing commodities this year, aided by negative real yields and vast stimulus to combat the fallout from the coronavirus pandemic.

“Gold’s roller-coaster ride is far from over as bond yields will likely remain volatile for the rest of the summer,” said Edward Moya, senior market analyst at Oanda Corp. “The relentless pace higher for gold will moderate but the outlook still warrants a strong stretch of fresh, record highs.” Spot gold traded 0.2% higher at $1,920.38 an ounce at 8:02 a.m. in Singapore. On Tuesday, prices dropped 5.7%, the biggest one-day loss in seven years, following a rally to an all-time high of $2,075.47 last week. Futures for December delivery declined 1% to $1,930.40 on the Comex in New York.

Silver for immediate delivery rose 0.3% to $25.5884 an ounce after a 2.9% gain on Wednesday and 15% slump on Tuesday.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 3. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

World stocks are fairly static as gold goes on a wild rideEuropean stocks stood their ground as US gridlock on a stimulus deal dented share prices there, and Turkey’s lira takes a pounding
La source: BDliveSA - 🏆 12. / 63 Lire la suite »

World stocks are fairly static as gold goes on a wild rideEuropean stocks stood their ground as US gridlock on a stimulus deal dented share prices there, and Turkey’s lira takes a pounding
La source: BDliveSA - 🏆 12. / 63 Lire la suite »

Business Maverick: Tencent Plays Down WeChat Ban After Results Beat EstimatesTencent Holdings Ltd. tried to reassure investors that U.S. President Donald Trump’s ban on its WeChat messaging service may apply only to its overseas operations, suggesting the impact on the world’s largest gaming corporation should be modest.
La source: dailymaverick - 🏆 3. / 84 Lire la suite »

BUSINESS MAVERICK: Amazing: The JSE is now up for the year 2020South African markets have experienced one of the biggest crashes, and quickest recoveries in history, over the span of just eight months. Amazingly, like many other stock markets around the world, the JSE All-Share Index is now higher than it was at the start of the year despite what may be the biggest economic calamity in a generation. What is going on?
La source: dailymaverick - 🏆 3. / 84 Lire la suite »