The Conversation (0)
- WORLD EDITIONAustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Top Stocks
Top Resource Stocks
Top Tech Stocks
Top Life Science Stocks
Trending
Trending Articles
Trending Press Releases
Trending Companies
Trending Reports
Resource
Popular Lists
Investing Ideas
Outlook Reports
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
Investing Guides
Tech
Popular Lists
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
Investing Ideas
Outlook Reports
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
Investing Guides
Life Science
Popular Lists
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
Outlook Reports
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Investing Guides
The market was taken by surprise Friday by the news that Deutsche Bank will withdraw from gold and silver benchmark setting while German officials investigate possible manipulation of precious metals prices by financial institutions.
The market was taken by surprise Friday by the news that Deutsche Bank (NYSE:DB) will withdraw from gold and silver benchmark setting while German officials investigate possible manipulation of precious metals prices by financial institutions. Deutsche Bank is one of five banks involved in gold fixing for global price-setting, according to Reuters, and is recusing itself from that process.
Gold was up 0.1 percent or $1.24 Friday to $1,243.51 an ounce. However, the metal is on track for an 0.3-percent drop for the week overall. According to Reuters, this is a reflection of conflicting U.S. economic data that casts doubt on the pace of the country’s recovery. U.S. gold futures for February delivery rose $2.80 to $1,243 an ounce, according to the news service.
“The U.S. data may not be uniformly good but it is not as bad as it used to be and the main thing now is that investors anticipate an increase in interest rates in the United States,” BofA Merrill Lynch analyst Michael Widmer told Reuters.
Silver was up 0.4 percent or $0.08 to $20.12 an ounce on Friday as well.
Copper dropped on the London Metal Exchange Friday, down 0.2 percent or $14.59 to $7,296 per metric ton, according to The Wall Street Journal. On New York’s Comex, however, copper gained $0.02 to $3.36 a pound, according to The Globe and Mail.
Brent crude oil was rebounding from a two-month low Friday, though it is on course to finish the week around 1 percent lower, according to Reuters. Brent crude for March delivery rose $0.28 to $106.03 a barrel, partially because Libya’s oil production has recovered a bit after it restarted output at the El Sharara field recently. Nuclear talks with Iran could also loosen or end sanctions against the country, which have curbed its oil exports significantly.
Gold was up 0.1 percent or $1.24 Friday to $1,243.51 an ounce. However, the metal is on track for an 0.3-percent drop for the week overall. According to Reuters, this is a reflection of conflicting U.S. economic data that casts doubt on the pace of the country’s recovery. U.S. gold futures for February delivery rose $2.80 to $1,243 an ounce, according to the news service.
“The U.S. data may not be uniformly good but it is not as bad as it used to be and the main thing now is that investors anticipate an increase in interest rates in the United States,” BofA Merrill Lynch analyst Michael Widmer told Reuters.
Silver was up 0.4 percent or $0.08 to $20.12 an ounce on Friday as well.
Copper dropped on the London Metal Exchange Friday, down 0.2 percent or $14.59 to $7,296 per metric ton, according to The Wall Street Journal. On New York’s Comex, however, copper gained $0.02 to $3.36 a pound, according to The Globe and Mail.
Brent crude oil was rebounding from a two-month low Friday, though it is on course to finish the week around 1 percent lower, according to Reuters. Brent crude for March delivery rose $0.28 to $106.03 a barrel, partially because Libya’s oil production has recovered a bit after it restarted output at the El Sharara field recently. Nuclear talks with Iran could also loosen or end sanctions against the country, which have curbed its oil exports significantly.
Latest News
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.