The spot gold price dropped slightly on Wednesday to hit $1,189.41 an ounce in response to a weaker US dollar and expectations that the Federal Reserve will not be raising interest rates at its June meeting.
The spot gold price dropped slightly on Wednesday to hit $1,189.41 an ounce in response to a weaker US dollar and expectations that the Federal Reserve will not be raising interest rates at its June meeting, according to Reuters. Meanwhile, gold futures for June delivery fell by $4.10 to hit $1,189.20 an ounce.
“One might be puzzled why the gold price is not reaching to a weaker dollar but you have to look at U.S. real yields, which correlate the most to the gold price, and these have risen,” the news outlet quotes Matthew Turner, a Macquarie analyst, as saying.
MARKETS
COMMODITIES
| Commodities | |||
|---|---|---|---|
| Gold | 1855.76 | +9.98 | |
| Silver | 22.02 | +0.23 | |
| Copper | 4.33 | +0.06 | |
| Palladium | 2026.00 | +59.00 | |
| Platinum | 975.00 | +16.00 | |
| Oil | 110.93 | +0.65 | |
| Heating Oil | 3.63 | +0.01 | |
| Natural Gas | 7.89 | -0.19 | |
DOWNLOAD FREE REPORTS
BROWSE COMPANIES BY SECTOR
- Agriculture Investing
- Phosphate Investing
- Potash Investing
- Base Metals Investing
- Copper Investing
- Iron Investing
- Lead Investing
- Nickel Investing
- Zinc Investing
- Battery Metals Investing
- Cobalt Investing
- Graphite Investing
- Lithium Investing
- Manganese Investing
- Vanadium Investing
- Critical Metals Investing
- Magnesium Investing
- Rare Earth Investing
- Scandium Investing
- Tantalum Investing
- Tellurium Investing
- Tungsten Investing
- Energy Investing
- Oil and Gas Investing
- Uranium Investing
- Gem Investing
- Diamond Investing
- Industrial Metals Investing
- Aluminum Investing
- Chromium Investing
- Coal Investing
- Molybdenum Investing
- Tin Investing
- Precious Metals Investing
- Gold Investing
- Palladium Investing
- Platinum Investing
- Silver Investing
- 3D Printing Investing
- Bitcoin Investing
- Blockchain Investing
- Cleantech Investing
- Cloud Investing
- Cryptocurrencies
- Data Investing
- Emerging Tech Investing
- Artificial Intelligence Investing
- Mobile Investing
- Robotics Investing
- Fintech Investing
- Gaming Investing
- Esports Investing
- Nanoscience Investing
- Graphene Investing
- Nanotech Investing
- Security Investing
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.