On Tuesday, the return of the safe haven buyer and a weaker US dollar combined to lift the metal to its highest level since the election of Donald Trump on November 8.Gold futures in New York for delivery in August, the most active contract, touched a high of $1,298.80, up more than 1% in heavy volume of more than 24m ounces. Gold is up 12.8% so far in 2017.Gold's recovery – up $80 an ounce in less than a month – was given fresh impetus by disappointing US jobs numbers released on Friday that hurt the US dollar and clouded the outlook for GDP growth in the world's largest economy. The weaker than expected data also put equity markets on edge which have been trading at record levels.Mounting geopolitical worries including upcoming elections and terrorist attacks in the UK and an escalating row between Saudi Arabia and the tiny state of Qatar drawing in the US and regional powers provided further buying momentum.This chart shows gold finally breaking a downtrend in place since the metal hit a peak above $1,900 an ounce in August 2011. In 2016 gold attempted to break through this resistance level on several occasions, but failed.
Trump's economic policy Investors were looking ahead to an address by Trump to Congress next week for further clarity on his economic pol... read more ...
Silver acts as an inflation hedge, and in times of crisis, small quantities may be used for smaller, daily transactions compared to holding a tradi... read more ...
Gold prices soared by Rs325 to regain the Rs30,000-mark and trade at over 4-month high of Rs30,175 per 10 grams at Delhi bullion market on Saturday... read more ...
its three-week gains at the bullion market, on reduced offtake due to holiday-truncated week despite firm global trend.Marketmen said easing demand... read more ...
Oil prices slid nearly 1 percent as worries about rising U.S. supplies outweighed OPEC pledges to boost compliance with output curbs.
But... read more ...
The Energy Information Administration (EIA) reported that natural gas in underground storage fell by 89 billion cubic feet ((bcf)) in the week endi... read more ...
Silver Price Equal Off with Notable Support
See the Webinar Calendar for a schedule of upcoming live events with Paul or... read more ...
BENGALURU, FEB 27:
Gold prices held firm on Monday near 3-1/2 month highs hit in the previous session, with investor...
read more ...