Report

rss

Iraq News

Kurdistan

Economy

World

All News

Gold firms as dollar softens

Category: Economy

Date: 2021-07-28T06:21:48+0000
Gold firms as dollar softens

Shafaq News/ Gold firmed near the key $1,800 level on Tuesday, as the dollar softened and U.S. real yields plunged, though gains were limited by investor caution ahead of a Federal Reserve meeting that could provide details on stimulus tapering.

Spot gold rose 0.4% to $1,806 per ounce by 03:28 GMT. U.S. gold futures settled little changed at $1,806.90.

The dollar index slipped 0.3%, lowering gold's cost for holders of other currencies.

Also, the yield on 10-year Treasury inflation-protected securities (TIPS) hit a record low, translating into reduced opportunity cost of holding gold.

The precious metal has been confined to a tight trading range in recent weeks after briefly crossing $1,830, failing to capitalise on subdued U.S benchmark Treasury yields.

Investors are keeping a watch on how the Fed balances accelerating inflation with the increased economic threat of the Delta coronavirus variant, in its two-day policy meeting beginning on Tuesday.

Elsewhere, silver gained 0.6% to $24.81 per ounce, platinum rose to $1,058.61, up by 0.8%, and palladium by 0.3% to $2,615.6.

related

Gold slips as rising Treasury yields bolster dollar

Date: 2022-04-11 07:23:23
Gold slips as rising Treasury yields bolster dollar

Gold inches up in Iraq today

Date: 2021-06-03 09:45:18
Gold inches up in Iraq today

Gold prices subdued as firm dollar dims safe-haven appeal

Date: 2021-09-13 06:56:49
Gold prices subdued as firm dollar dims safe-haven appeal

Gold prices in the Iraqi local markets today

Date: 2022-01-04 12:16:05
Gold prices in the Iraqi local markets today

Gold prices drop in the Iraqi capital today

Date: 2022-04-23 12:17:20
Gold prices drop in the Iraqi capital today

Gold reaches a 1-week high

Date: 2020-12-16 09:40:56
Gold reaches a 1-week high

Gold prices in the Iraqi local markets today

Date: 2022-02-08 09:25:18
Gold prices in the Iraqi local markets today

Yellow metal trades flat, silver tops Rs 62,000

Date: 2022-05-24 06:35:11
Yellow metal trades flat, silver tops Rs 62,000