Weekly Round-Up: Gold Price Recovers from Four-week Low
Heightened geopolitical tensions between the US and North Korea pushed the gold price up on Friday, but it is still below $1,300 per ounce.
Your trusted source for investing success
Your trusted source for investing success
Heightened geopolitical tensions between the US and North Korea pushed the gold price up on Friday, but it is still below $1,300 per ounce.
The gold price edged lower on Friday and was headed for a weekly loss after a North Korean missile test brought little reaction from investors.
Gold climbed on Friday after weaker-than-expected US jobs data cast doubts on further Fed interest rate hikes. In August the metal rose 4.1 percent.
Many experts are warning that copper’s price rally could be overhyped, and that a price correction may be just around the corner.
The gold price rose above the $1,300-per-ounce mark as geopolitical uncertainty boosted precious metals demand.
The gold price fell on Friday after a stronger-than-expected US employment report.
Oil prices surged toward the $50-a-barrel-level this week but pulled back on OPEC uncertainty.
The gold price rose on Friday as the US dollar fell against the euro.
The gold price edged lower on Friday after a stronger-than-expected US jobs report increased fears of another rate hike.
The gold price is on track for a weekly gain, supported by political uncertainty and a weaker dollar.
The gold price was set to touch a six-week high on Friday after a disappointing US jobs report.
Silver, copper and oil are also on track to make gains this week.
The gold price reached its highest point in over a year on Friday. Silver and copper also fared well this week, as did oil.
India surprised the gold market on Friday when it removed a fairly stringent restriction on gold imports, bringing a bright spot to an otherwise dreary gold market. The Reserve Bank of India issued a statement announcing the change on Friday afternoon, but did not give a reason for scrapping the
The gold price spiked on the release of a weak US jobs report Friday, jumping from about $1,105 per ounce up to a high of $1,139.40.
Gold prices fell this week, as investors remained guarded pending a two-day Federal Reserve meeting on September 16.
Copper prices got a much needed boost on Tuesday after Glencore announced a new debt reduction plan that included cutting approximately 400,000 tonnes of copper cathode out of the market.
Gold prices rose on the back of a slightly weaker dollar on Wednesday, Reuters reported. The metal touched a four month low in light of the Greek debt crisis and a continued fall in the Chinese stock market.
As quoted in the publication:
The price of the yellow metal did not react
Platinum prices hit a 6 year low after Greece voted ‘no’ in a referendum on terms of a bailout that included further austerity measures for the country, Bloomberg reported. Prices fell 1.9 percent to $1,062.95 per ounce.
As quoted in the publication:
The price of platinum has slumped every quarter since June
Bart Melek, TD Bank’s head of commodity strategy, favors platinum over palladium and suggested that its price could hit $1,600 by the end of 2014.
