Report

rss

Iraq News

Kurdistan

Economy

World

All News

Gold gains as rising virus cases, easing dollar boost safe-haven appeal

Category: Economy

Date: 2021-04-26T08:05:33+0000
Gold gains as rising virus cases, easing dollar boost safe-haven appeal

Shafaq News / Gold gained on Monday, as surging COVID-19 cases boosted the metal's safe-haven appeal, aided by a weaker dollar ahead of the U.S. Federal Reserve's meeting this week, while auto-catalyst palladium held below a record peak scaled last week, Reuters reported. 

Spot gold was up 0.1% at $1,778.22 per ounce by 0707 GMT. U.S. gold futures        fell 0.1% to $1,775.70 per ounce.

Cases in India registered a record surge, while Japan declared states of emergency for Tokyo, Osaka and two other prefectures on Friday to combat a spike.              

Speculators raised their bullish positions in COMEX gold in the week to April 20, the U.S. Commodity Futures Trading Commission said on Friday.        

U.S. factory activity powered ahead in early April, while retail sales jumped to a record high in March and hiring accelerated.             

Market participants now await Fed's two-day policy meeting starting on Tuesday. Although no change in policy is expected, the focus will be on Chair Jerome Powell's press conference.

Palladium rose 1.2% to $2,889.47 per ounce, after scaling a record peak of $2,925.14 on Friday.

 Silver fell 0.2% to $25.95 per ounce. Platinum was up 0.6% at $1,237.01.

related

Gold hits over one-week low as firm bond yields, dollar weigh

Date: 2022-04-20 07:17:03
Gold hits over one-week low as firm bond yields, dollar weigh

Gold prices inch up in Iraq today

Date: 2021-08-17 09:04:15
Gold prices inch up in Iraq today

Gold is dropping for the fourth day

Date: 2020-09-24 07:04:37
Gold is dropping for the fourth day

Gold hits near nine-month high as Ukraine standoff worsens

Date: 2022-02-22 07:43:05
Gold hits near nine-month high as Ukraine standoff worsens

PRECIOUS-Gold inches lower on firm dollar, Fed hawkish stance

Date: 2021-06-29 08:13:32
PRECIOUS-Gold inches lower on firm dollar, Fed hawkish stance

PRECIOUS-Gold climbs as Fed chief stays dovish, dollar softens

Date: 2021-07-29 07:58:13
PRECIOUS-Gold climbs as Fed chief stays dovish, dollar softens

Gold prices drop in the Iraqi capital today

Date: 2021-11-20 11:28:23
Gold prices drop in the Iraqi capital today

Currencies, Gold and Oil prices in the Iraqi Markets

Date: 2021-03-15 08:42:46
Currencies, Gold and Oil prices in the Iraqi Markets