Precious Metals

Gold prices pushed above $1,400 an ounce earlier in the session Aug. 26 before steadying at $1,396 an ounce.

Gold prices pushed above $1,400 an ounce earlier in the session Aug. 26 before steadying at $1,396 an ounce. The slight fall of the precious metal was due to investors’ wariness about what the Federal Reserve’s next move would be once new durable-goods data was released, MarketWatch reported.

 

Gold prices hit a high of $1,406.01 an ounce — a level not seen since June 7, according to Reuters.

 

“The market is very nervous and unsure, therefore we need a direction,” said Afshin Nabavi, head of trading at MKS in Switzerland. “[The] Fed and U.S. dollar seem to be it for the time being. 1,400 is a big resistance, although overnight we tested 1,407, due to stops.”

 

U.S. gold futures for December delivery rose $2 today as well to hit $1,397.80 an ounce.

MARKETS

Markets
TSX20269.97+89.37
TSXV669.57-8.93
DOW34152.01+239.57
S&P 5004305.20+8.06
NASD13102.55-25.50
ASX7064.30+31.80

COMMODITIES

Commodities
Gold1775.25-0.22
Silver20.130.00
Copper3.620.00
Palladium2157.00+12.00
Platinum936.50+2.50
Oil87.07+0.54
Heating Oil3.450.00
Natural Gas9.35+0.02

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