Gold prices finished higher on Monday, erasing their losses from Friday. Sharp declines in benchmark U.S. stock indexes and a weaker dollar boosted investment demand for the precious metal, even as the U.S. Federal Reserve is expected to announce an interest-rate hike on Wednesday. April gold GCJ8, -0.12% fell $5.50, or 0.4%, to settle at $1,317.80 an ounce.
Swiss data showed that gold exports to China and Hong Kong picked up ahead of Chinese New Year festivities, accounting for roughly two-thirds of Switzerland’s exports last month, Commerzbank pointed out. Analysts cited data from the Swiss Federal Customs Administration showing that Switzerland only a little more than 107 tonnes of gold in January. That […]
U.S. consumer prices rose considerably more than expected in January, fueling fears that inflation is about to turn dangerously higher. The Consumer Price Index rose 0.5 percent last month against projections of a 0.3 percent increase, the Labor Department reported Wednesday. Excluding volatile food and energy prices, the index was up 0.3 percent against estimates […]
Gold prices held steady near recent highs on Monday, as fears of a potential trade war and political uncertainty in Europe continued to support demand for safe-haven assets. Comex gold futures were little changed at $1,324.1 a troy ounce by 08:25 a.m. ET (12:25 GMT), the highest since February 27. Risk sentiment weakened after U.S. […]