|Day's range||1,958.80 - 1,965.00|
Gold prices steadied on Wednesday, trading in a tight range as support from a weaker dollar countered concerns surrounding the U.S. Federal Reserve's next interest rate decision. Spot gold was little changed at $1,964.09 per ounce by 0433 GMT. The uptrend in gold is intact and the big question now is when will the Fed end its rate-hike campaign, said Ilya Spivak, head of global macro at Tastylive, adding that gold could see higher moves once there was more clarity on that.
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Investing.com -- Gold prices moved little on Wednesday as markets hunkered down ahead of an upcoming Federal Reserve meeting, while copper prices extended a rebound from six-month lows.
U.S. stocks are seen opening marginally lower Tuesday, continuing to hand back some of last week’s chunky gains as investors fret about the uncertain economic outlook ahead of next week’s Federal Reserve policy-setting meeting. At 06:55 ET (10:55 GMT), the Dow futures contract was down 30 points, or 0.1%, S&P 500 futures traded 3 points, or 0.1% lower, and Nasdaq 100 futures dropped 10 points, or 0.1%. The blue-chip Dow Jones Industrial Average fell 200 points, or 0.6%, the broad-based S&P 500 dropped 0.2%, after last week posting its best week since March, while the tech-heavy Nasdaq Composite fell 0.1% higher.
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Investing.com -- Gold prices steadied on Tuesday after marking some gains in the prior session, as weak U.S. service sector data weighed on the dollar and fed into bets that the world’s largest economy was cooling.
Rio Tinto (RIO) has announced that all the heavy machinery at its Boron operation have been successfully transitioned to run on renewable diesel.
Franco-Nevada Corporation, Gold Fields Limited, AngloGold Ashanti and Alamos Gold are part of the Zacks Industry Outlook article.
The event will double the bitcoin production cost to around $40,000, creating a positive psychological effect, the report said.
Investing.com - Brent and WTI are registering rises of between 1% and 1.5% this Monday with OPEC+ extending its agreement on crude supply restrictions through 2024 and Saudi Arabia announcing production cuts of 1 million barrels per day (bpd) to a total of 9 million bpd.
U.S. stocks are seen opening in a mixed fashion Monday, stabilizing after a broad-based rally as investors digest more economic data with next week’s Federal Reserve policy-setting meeting in mind. At 06:50 ET (10:50 GMT), the Dow futures contract was up 30 points, or 0.1%, S&P 500 futures traded 2 points, or 0.1% higher, while Nasdaq 100 futures dropped 23 points, or 0.2%. The main Wall Street indices closed firmly higher on Friday, following strong jobs data and after Congress passed a bill to lift the federal debt ceiling, signed into law by President Joe Biden over the weekend, thus averting a default which would have had economically disastrous repercussions.
One exploration group abandons country because of ‘political instability’ as warnings rise of legal challenges
European stock markets edged higher in cautious trade Monday as investors focused on future central bank policies and a deluge of economic data. U.S. President Joe Biden signed on Saturday a bill suspending the debt limit until the start of 2025, removing the possibility of the U.S. defaulting on its debt obligations, a key source of anxiety for financial markets over the past month. With this in mind, attention turns fully back to what the European Central Bank, and the U.S. Federal Reserve, will decide upon in terms of interest rate hikes in the months ahead as growth slows.
Gold prices steadied in a tight range on Tuesday as optimism that the U.S. central bank will not hike interest rates this month kept the dollar under pressure. Spot gold held its ground at $1,960.89 per ounce by 0239 GMT. U.S. gold futures edged 0.1% higher to $1,976.80.
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World stocks and the dollar dipped on Monday as investors mulled whether the Federal Reserve will refrain from raising rates in June after data last week showed slowing U.S. wage growth, while oil prices steadied after Saudi Arabia vowed big output cuts. The benchmark S&P 500 Index lost 0.2%, the Nasdaq Composite Index was little changed and the Dow Jones Industrial Index dropped 0.59%. While last week's stock market rally appeared to have paused, the U.S. data released on Friday showing wage pressures easing and the unemployment rate climbing off a 53-year low gave hope that the Fed is making further progress against inflation.
Investing.com -- Gold prices fell slightly on Monday amid uncertainty over whether the Federal Reserve will hold interest rates steady later this month, while concerns over weakening economic growth pulled copper prices down.
By the time you read this, OPEC would have probably decided, even announced, new production levels meant to seize pricing of oil back from the hands of short-sellers who’ve driven the group nuts this year in trying to keep a barrel at $80 or more. Oil revenue is the lifeblood of the economies in OPEC, or the Organization of the Petroleum Exporting Countries, a 13-member Saudi-led group whose main objective is to be the price-setter of the commodity. Ten other oil-producing states, including Russia, that aren’t OPEC members also keep their output closely in line with the group’s for the sake of price.
Kinross Gold (KGC) closed at $4.85 in the latest trading session, marking a -0.82% move from the prior day.
Ether and other major cryptos spent much of the day in positive territory.
With gold prices gaining so far this year and demand expected to be strong, the near-term outlook of the Zacks Mining - Gold industry looks promising. One can watch stocks like FNV, GFI, AU and AGI, backed by their growth prospects.
Investing.com -- The U.S. debt ceiling deal is done but gold isn’t quite dead yet, as some had been speculating.
The Swiss firm aims to allow financial institutions and corporates to issue tokenized assets on the Ethereum layer 2 network.
The latest price moves in bitcoin (BTC) and crypto markets in context for June 2, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
U.S. stocks are seen opening higher Friday as investors cheer the passage of the debt ceiling bill through Congress ahead of the release of the keenly-anticipated monthly jobs report. At 07:00 ET (11:00 GMT), the Dow Futures contract was up 165 points, or 0.5%, S&P 500 Futures traded 20 points, or 0.5%, higher and Nasdaq 100 Futures climbed 55 points, or 0.4%. The U.S. Senate approved on Thursday a deal to raise the country's borrowing limit, following on from the lead of the House of Representatives the previous day after weeks of partisan strife.