Pre. Settlement | N/A |
Settlement date | 2024-07-29 |
Open | 988.00 |
Bid | 987.80 |
Last price | 988.40 |
Day's range | 985.00 - 991.50 |
Volume | |
Ask | 988.10 |
Gold eased on Wednesday after data showed strong U.S. business activity, even as a weakened dollar limited losses, while investors looked ahead to more economic indicators to assess when the Federal Reserve might first cut interest rates. "Gold prices are pretty insulated from a hawkish repricing in rates markets, because there are signs that investors are historically under-positioned in gold despite markets expecting an imminent start to the Fed's cutting cycle," said Daniel Ghali, commodity strategist at TD Securities. A strong U.S. economy and pushback from central bank officials is leading some investors to rethink their bets on how quickly the Fed will cut rates this year.
Gold prices inched higher on Tuesday, as investors awaited a slew of U.S. economic data this week for more cues to the Federal Reserve's timeline for interest rate cuts. Spot gold was up 0.2% to $2,025.09 per ounce by 2:00 p.m. ET (1900 GMT). Gold futures settled 0.2% higher at $2025.8.
Gold prices eased on Monday as investors rolled back expectations of a U.S. interest rate cut at the end of March, with a surge in equity markets further dampening interest in safe-haven bullion. Spot gold was down 0.5% at $2,020.09 per ounce at 1:49 p.m. ET (1849 GMT). Technical selling and a rally in stock markets are likely the two main factors limiting buying interest in the gold and silver markets, said Jim Wyckoff, senior analyst at Kitco Metals.