Latest news with #Menke
Business Recorder
5 days ago
- Business
- Business Recorder
Gold extends losses
NEW YORK: Gold prices extended losses on Thursday from the previous session as easing trade tensions increased risk sentiment and weighed on demand for safe-haven assets. Spot gold was down 0.7% at $3,362.48 per ounce by 1207 GMT, after shedding 1.3% in the previous session. US gold futures dropped 0.9% to $3,366.40. Following this week's trade deal between the US and Japan, two European diplomats said on Wednesday the European Union and the US are also edging toward a trade deal that could include a 15% US baseline tariff on EU goods and exemptions. 'Gold is down this morning due to the positive news flow around global trade... this is reducing downside risks for global growth and supports the prevailing risk-on mood in financial markets,' said Carsten Menke, an analyst at Julius Baer. The trade expectations meanwhile drove risk sentiment in the global financial markets, propelling stocks to fresh record highs. 'Demand from safe-haven seekers has cooled while central bank buying stays sound, even though not as strong as earlier in the year. We still expect gold to move higher in the longer term,' Menke said. The Fed's policy meeting, scheduled for July 29-30, is expected to maintain interest rates within their current range. Investors anticipate the central bank will resume rate cuts in September. Elsewhere, the European Central Bank is also expected to keep interest rates steady on Thursday.
Economic Times
6 days ago
- Business
- Economic Times
Gold price crashes: Should you bet on low gold rate and invest? Here is what experts are saying
Gold tends to do well in a low-interest rate environment. Gold is down this morning due to the positive news flow around global trade. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads FAQs Gold prices crashed on Thursday as easing trade tensions increased risk sentiment and weighed on demand for safe-haven assets. Spot gold was down 0.6 per cent at $3,362.59 per ounce after shedding 1.3 per cent in the previous session. U.S. gold futures dropped 0.9 per cent to $3,367.30. Following this week's trade deal between the U.S. and Japan, two European diplomats said on Wednesday the European Union and the U.S. are also edging toward a trade deal that could include a 15 per cent U.S. baseline tariff on EU goods and is down this morning due to the positive news flow around global trade... this is reducing downside risks for global growth and supports the prevailing risk-on mood in financial markets, said Carsten Menke, an analyst at Julius trade expectations meanwhile drove risk sentiment in the global financial markets propelling stocks to fresh record highs."Demand from safe-haven seekers has cooled while central bank buying stays sound, even though not as strong as earlier in the year. We still expect gold to move higher in the longer term," Menke said.A safe-haven asset during times of economic uncertainties, gold also tends to do well in a low-interest rate environment.U.S. President Donald Trump will visit the Federal Reserve on Thursday, the White House said, which could intensify tensions between the administration and the central bank. The Fed's policy meeting, scheduled for July 29-30, is expected to maintain interest rates within their current range. Investors anticipate the central bank will resume rate cuts in September. Elsewhere, the European Central Bank is also expected to keep interest rates steady on silver slipped 0.7 per cent to $39.02 per ounce, while palladium dipped 2 per cent to $1,252.70. Platinum fell 2.5 per cent to $1,376.45, its lowest in more than a week.A1. Spot gold was down 0.6 per cent at $3,362.59 per ounce after shedding 1.3 per cent in the previous session. U.S. gold futures dropped 0.9 per cent to $3,367.30.A2. Spot silver slipped 0.7 per cent to $39.02 per ounce, while palladium dipped 2 per cent to $1,252.70. Platinum fell 2.5 per cent to $1,376.45, its lowest in more than a week.
Time of India
6 days ago
- Business
- Time of India
Gold price crashes: Should you bet on low gold rate and invest? Here is what experts are saying
Gold prices crashed on Thursday as easing trade tensions increased risk sentiment and weighed on demand for safe-haven assets. Spot gold was down 0.6 per cent at $3,362.59 per ounce after shedding 1.3 per cent in the previous session. U.S. gold futures dropped 0.9 per cent to $3,367.30. Following this week's trade deal between the U.S. and Japan, two European diplomats said on Wednesday the European Union and the U.S. are also edging toward a trade deal that could include a 15 per cent U.S. baseline tariff on EU goods and exemptions. Gold Price Predictions Explore courses from Top Institutes in Please select course: Select a Course Category Product Management Data Analytics healthcare Digital Marketing Data Science Management CXO Cybersecurity Degree MBA Healthcare Public Policy Project Management Finance Artificial Intelligence Leadership MCA others Operations Management Design Thinking Data Science Others PGDM Technology Skills you'll gain: Product Strategy & Roadmapping User-Centric Product Design Agile Product Development Market Analysis & Product Launch Duration: 24 Weeks Indian School of Business Professional Certificate in Product Management Starts on Jun 26, 2024 Get Details Skills you'll gain: Creating Effective Product Roadmap User Research & Translating it to Product Design Key Metrics via Product Analytics Hand-On Projects Using Cutting Edge Tools Duration: 12 Weeks Indian School of Business ISB Product Management Starts on May 14, 2024 Get Details Skills you'll gain: Product Strategy & Competitive Advantage Tactics Product Development Processes & Market Orientations Product Analytics & Data-Driven Decision Making Agile Development, Design Thinking, & Product Leadership Duration: 40 Weeks IIM Kozhikode Professional Certificate in Product Management Starts on Jun 26, 2024 Get Details Gold is down this morning due to the positive news flow around global trade... this is reducing downside risks for global growth and supports the prevailing risk-on mood in financial markets, said Carsten Menke, an analyst at Julius Baer. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Remember Him? Sit Down Before You See What He Looks Like Now 33 Bridges Undo The trade expectations meanwhile drove risk sentiment in the global financial markets propelling stocks to fresh record highs. "Demand from safe-haven seekers has cooled while central bank buying stays sound, even though not as strong as earlier in the year. We still expect gold to move higher in the longer term," Menke said. Live Events A safe-haven asset during times of economic uncertainties, gold also tends to do well in a low-interest rate environment. U.S. President Donald Trump will visit the Federal Reserve on Thursday, the White House said, which could intensify tensions between the administration and the central bank. The Fed's policy meeting, scheduled for July 29-30, is expected to maintain interest rates within their current range. Investors anticipate the central bank will resume rate cuts in September. Elsewhere, the European Central Bank is also expected to keep interest rates steady on Thursday. Spot silver slipped 0.7 per cent to $39.02 per ounce, while palladium dipped 2 per cent to $1,252.70. Platinum fell 2.5 per cent to $1,376.45, its lowest in more than a week. FAQs Q1. What are gold prices? A1. Spot gold was down 0.6 per cent at $3,362.59 per ounce after shedding 1.3 per cent in the previous session. U.S. gold futures dropped 0.9 per cent to $3,367.30. Q2. What are silver, palladium, platinum prices? A2. Spot silver slipped 0.7 per cent to $39.02 per ounce, while palladium dipped 2 per cent to $1,252.70. Platinum fell 2.5 per cent to $1,376.45, its lowest in more than a week.
Reuters
6 days ago
- Business
- Reuters
Gold extends losses after trade deal hopes curb safe-haven demand
July 24 (Reuters) - Gold prices extended losses on Thursday from the previous session as easing trade tensions increased risk sentiment and weighed on demand for safe-haven assets. Spot gold was down 0.6% at $3,367.92 per ounce, as of 0758 GMT, after shedding 1.3% in the previous session. U.S. gold futures dropped 0.7% to $3,372.70. Following this week's trade deal between the U.S. and Japan, two European diplomats said on Wednesday the European Union and the U.S. are also edging toward a trade deal that could include a 15% U.S. baseline tariff on EU goods and exemptions. "Gold is down this morning due to the positive news flow around global trade... this is reducing downside risks for global growth and supports the prevailing risk-on mood in financial markets," said Carsten Menke, an analyst at Julius Baer. The trade expectations meanwhile drove risk sentiment in the wider financial markets. "Demand from safe-haven seekers has cooled while central bank buying stays sound, even though not as strong as earlier in the year. We still expect gold to move higher in the longer term," Menke said. A safe-haven asset during times of economic uncertainties, gold also tends to do well in a low-interest rate environment. U.S. President Donald Trump will visit the Federal Reserve on Thursday, the White House said, which could intensify tensions between the administration and the central bank. The Fed's policy meeting, scheduled for July 29-30, is expected to maintain interest rates within their current range. Investors anticipate the central bank will resume rate cuts in September. Elsewhere, the European Central Bank is also expected to keep interest rates steady on Thursday. Spot silver slipped 0.6% to $39.03 per ounce, platinum lost 0.4% at $1,406.28 and palladium dipped 0.9% to $1,266.27.
New Straits Times
6 days ago
- Business
- New Straits Times
Gold extends losses after trade deal hopes curb safe-haven demand
NEW YORK: Gold prices extended losses on Thursday from the previous session as easing trade tensions increased risk sentiment and weighed on demand for safe-haven assets. Spot gold was down 0.6 per cent at US$3,367.92 per ounce, as of 0758 GMT, after shedding one point three per cent in the previous session. US gold futures dropped 0.7 per cent to US$3,372.70. Following this week's trade deal between the US and Japan, two European diplomats said on Wednesday the European Union and the US are also edging toward a trade deal that could include a 15 per cent US baseline tariff on EU goods and exemptions. "Gold is down this morning due to the positive news flow around global trade... this is reducing downside risks for global growth and supports the prevailing risk-on mood in financial markets," said Carsten Menke, an analyst at Julius Baer. The trade expectations meanwhile drove risk sentiment in the wider financial markets. "Demand from safe-haven seekers has cooled while central bank buying stays sound, even though not as strong as earlier in the year. We still expect gold to move higher in the longer term," Menke said. A safe-haven asset during times of economic uncertainties, gold also tends to do well in a low-interest rate environment. US President Donald Trump will visit the Federal Reserve on Thursday, the White House said, which could intensify tensions between the administration and the central bank. The Fed's policy meeting, scheduled for July 29–30, is expected to maintain interest rates within their current range. Investors anticipate the central bank will resume rate cuts in September. Elsewhere, the European Central Bank is also expected to keep interest rates steady on Thursday. Spot silver slipped 0.6 per cent to US$39.03 per ounce, platinum lost 0.4 per cent at US$1,406.28 and palladium dipped 0.9 per cent to US$1,266.27.
