Gold is slowly gaining back some of its losses after Friday’s sell-off which dropped the price over 2% to its lowest level of the year. Currently trading at $1,280.30, gold is up $5.00 after the dollar’s sudden surge last week seems to have plateaued, at least for now.
Gold is down $22.00, currently trading at $1,282.70—its lowest level since December 2017. The drop comes as the US Dollar soared to a 7- month high this morning, after recent positive economic data and Wednesday’s interest rate increase. Gold may receive some support from recent tariffs the US and China launched against each other in an escalation of already existing trade tensions.
Gold remains stable around $1,296.00 this morning, as traders await the release of today’s FOMC minutes where interest rates are expected to rise amid continuous positive economic data over the past few months. Silver reached $17.00 this morning for the first time since April, dropping the silver-gold ratio to 2018 low of 76.24.
Gold remains virtually unchanged, down $0.10 at $1,298.60, ahead of tonight’s summit between President Trump and Kim Jong-un. Equity markets also remain stagnant ahead of the historic meeting with major indices showing trivial movement. This weekend’s G7 Summit had little to no impact on metal prices after President Trump used the platform to take digs at fellow NATO members and declined signing the joint communique.
Gold remains unchanged at $1,299 this morning as investors turn their attention to this weekend’s G7 Summit and next week’s meeting between President Trump and Kim Jong-un. Equity markets are trending downward ahead of these events but metals are remaining stable.
Gold remains relatively stagnant in the $1,298.00 range after rebounding from yesterday’s low of around $1,291.00—its lowest level in two weeks. A slipping US dollar is the main factor helping boost gold but next week’s FOMC meeting and likely interest rate hike, should keep pressure on the price leading up to next Wednesday.
Gold received a slight boost this morning trading at $1,301.80, up $2.20, after the US dollar declined due to a rebounding Euro that dropped yesterday to its lowest level of 2018, amid political upheaval in Italy. Revised Q1 GPD data showed economic growth at a rate of 2.2%, down 0.1%. Despite the downward revision, the data had little impact on markets with the dollar remaining virtually unchanged after its release, and equity futures remaining poised for a rebound after yesterday’s slump.
Gold dipped below $1,300, currently down $8.00 trading at $1,296.40 as the US dollar rose significantly to its new high of 2018. Oil prices are also falling quickly with Brent crude down approximately 5% since last week at $75.30, further putting pressure on gold with easing inflation scares.
Gold is hovering around $1,305.00, after gaining over 1% yesterday amid dovish Fed minutes released Wednesday and resurfacing political tension between the US and North Korea. The Fed intends to let inflation rise above its 2% goal temporarily—suggesting less interest rate hikes this year, and President Trump pulled out of the highly anticipated June 12 meeting with North Korea. Both events caused the dollar to slide yesterday giving gold a boost it hadn’t seen in weeks.
Gold is down $3.70 this morning, trading at $1,289 as the US dollar is up 0.50% to its highest level since mid-November. Stocks look poised for losses today with futures down across major indices as President Trump stated he’s not pleased with how trade talks are going with China only two days after putting US-China trade relations on hold.