Gold is up $0.40 this morning, trading at $1,228.00, and is now up 3.5% since last Wednesday, its best weekly performance since December 2017. Stock futures are down across the board after posting their best-single day performance since March, with the Dow and S&P 500 rising 2.2% each.
Gold remains steady at the $1,220.00 range after rising nearly 3% yesterday to close at its highest level since late July. The Dow and S&P 500 both dropped more than 5% in the past three days giving stocks their worst performance since February. Gold’s appeal as a safe-haven investment resurfaced during this massive selloff, wiping away weeks of losses in a single day.
Gold is up $1.00, currently trading at $1,189.10 after falling stocks helped expunge the metal’s earlier losses today. Gold slipped this morning, dropping to $1,185 as rising bond yields continue to put pressure on metals. Falling stocks helped boost gold, however, putting its price in the green as the Dow and Nasdaq are down 1.3% and 2.0% respectively—their lowest levels in several months.
Gold is down $15.70, currently trading at $1,186.50, slipping to its lowest level in over a week amid a strengthening dollar and rising treasury yields. The US dollar rose today as ongoing issues regarding Italy’s budget deficit disrupted the Euro and Chinese stocks continue to decline. Treasury yields continue to pressure gold as well, remaining at their highest levels since 2011.
Gold is up $4.30 this morning, currently trading at $1,202.10, as today’s jobs report showed mixed data and had little effect on precious metals. Only 134,000 jobs were created versus an expected 185,000, however, unemployment dropped to 3.7%, the lowest level in nearly 50 years. Overall, gold is holding up nicely to low unemployment and rising bond yields, which are at an eight-year high.
Gold remains flat around $1,203.00 this morning after gaining about 1.3% yesterday—one of its best single day performances in recent months. Gold, the dollar, and US stocks all rose yesterday as Italy’s debt crisis took center-stage causing a dip in the Euro. Today’s US jobs report also put downward pressure on gold as 230,000 jobs were created in September versus 185,000 expected.
Gold is down today, currently trading at $1,188.60, as the dollar continues to climb—now hitting its highest level in three weeks. The Mexican peso and Canadian dollar also rose today amid a new NAFTA deal that includes Canada, helping to alleviate trade tensions in the region. The new deal was received well on Wall Street, with major stock indices up across the board.
Gold is trading at $1,195.00 this morning, down $5.80, as the US dollar erased yesterday’s losses and is currently up .25% ahead of today’s Fed release. Interest rates are overwhelmingly expected to rise today which has traditionally boosted the US dollar’s attractiveness to investors. Gold’s correlation to rising rates has been erratic, with some hikes helping and others hurting its price in recent years.
Gold is currently at $1,203.50, up $6.50, as trade tensions hit a new high with China. President Trump announced a 10% tariff on $200 billion in Chinese imports and China responded by imposing new tariffs against the US and declining an invitation to discuss a potential resolution. The current tension caused the dollar to slip today as investors worry a trade war with China could hurt its value soon—even with interest rates likely to rise later this week.
Gold slipped today, currently down $9.20 trading at $1,197.50, as the US dollar rebounded after yesterday’s plunge to its lowest level since early July. Equity markets are also up with several major indices reaching record highs this week. Gold has gotten a boost from trade tensions with China this week, but record stocks and a climbing dollar continue to put downward pressure on metals.