Latest news with #USDollar
Reuters
a day ago
- Business
- Reuters
Gold at over one-month high as weak dollar, bond yields lift appeal
July 22 (Reuters) - Gold prices climbed on Tuesday to their highest level in more than a month, supported by a weaker U.S. dollar and lower Treasury yields, as investors looked for progress in trade talks ahead of an August 1 deadline. Spot gold was little changed at $3,389.98 per ounce, as of 0503 GMT. Earlier in the session, bullion hit its highest level since June 17. U.S. gold futures held their ground at $3,402.90. "Gold's move on the upside has been pretty much supported by positive technicals and as well as reinforced by a broad base of dollar weakness," OANDA senior market analyst Kelvin Wong said. The U.S. dollar index (.DXY), opens new tab was hovering near a more than one-week low against its rivals, making greenback-priced gold less expensive for other currency holders. Benchmark 10-year U.S. Treasury yields hit a more than one-week low on Monday. USD/US/ The European Union is exploring a broader set of possible countermeasures against the United States as prospects for an acceptable trade agreement with Washington fade, according to EU diplomats. U.S. President Donald Trump has threatened 30% duties on imports from Europe if no agreement is signed before the August 1 deadline. "There could be a possibility that U.S. and the respective trading partners may not agree to the terms and condition and that potentially could see a bit of uncertainty and there could be some hedging activities by market participants going forward," Wong said. Also on radar, the European Central Bank is expected to hold interest rates steady at 2.0% following a string of cuts at the end of its policy meeting on July 24. The U.S. Federal Reserve's monetary policy is scheduled for next week. Traders are pricing about a 59% chance of a rate cut by the Fed in September, according to the CME FedWatch Tool. Gold tends to perform well in a low-interest-rate environment. Spot silver fell 0.5% to $38.71 per ounce, platinum added 0.3% to $1,442.55 and palladium fell 1.3% to $1,250.19.
Reuters
a day ago
- Business
- Reuters
Gold steadies at over one-month high as weak dollar, bond yields lift appeal
July 22 (Reuters) - Gold prices climbed on Tuesday to their highest point in more than a month, supported by a weaker U.S. dollar and lower Treasury yields, as investors looked for progress in trade talks ahead of an August 1 deadline. Spot gold was unchanged at $3,390.69 per ounce, as of 0258 GMT. Earlier in the session, bullion hit its highest level since June 17. U.S. gold futures held their ground at $3,405.20. "Gold's move on the upside has been pretty much supported by positive technicals and as well as reinforced by a broad base of dollar weakness," OANDA senior market analyst Kelvin Wong said. The U.S. dollar index (.DXY), opens new tab was hovering near a more than one-week low against its rivals, making greenback-priced gold less expensive for other currency holders. Benchmark 10-year U.S. Treasury yields hit a more than one-week low on Monday. USD/US/ The European Union is exploring a broader set of possible counter measures against the United States as prospects for an acceptable trade agreement with Washington fade, according to EU diplomats. U.S. President Donald Trump has threatened 30% duties on imports from Europe if no agreement is signed before the August 1 deadline. "There could be a possibility that U.S. and the respective trading partners may not agree to the terms and condition and that potentially could see a bit of uncertainty and there could be some hedging activities by market participants going forward," Wong said. Also on radar, the European Central Bank is expected to hold interest rates steady at 2.0% following a string of cuts at the end of its policy meeting on July 24. The U.S. Federal Reserve monetary policy is scheduled for next week. Traders are pricing about a 59% chance of a rate cut by the Fed in September, according to the CME FedWatch Tool. Gold tends to perform well in a low-interest-rate environment. Spot silver eased 0.2% to $38.84 per ounce, platinum added 0.8% to $1,449.11 and palladium fell 0.2% to $1,262.89.
Zawya
2 days ago
- Business
- Zawya
Gold rises on weaker dollar as investors eye trade developments
Gold prices firmed on Monday, bolstered by a weaker U.S. dollar, while investors sought clarity on trade developments ahead of an August 1 U.S. tariff deadline. Spot gold was up 0.5% at $3,364.50 per ounce by 0909 GMT. U.S. gold futures rose 0.4% to $3,371.80. "The modest from a weaker U.S. dollar. With the tariff August 1 deadline coming closer, the market focus will be if trade deals are announced, or tariffs are implemented," said UBS commodity analyst Giovanni Staunovo. The dollar eased 0.2% against a basket of other major currencies, making gold less expensive for their holders . U.S. Commerce Secretary Howard Lutnick said on Sunday he was confident the United States can secure a trade deal with the European Union, but August 1 is a hard deadline for tariffs to kick in. Gold, often considered a safe-haven asset during economic uncertainty, tends to do well in a low interest rate environment. The U.S. Federal Reserve's next policy meeting is scheduled for July 29-30, following its decision to hold rates steady last month. "Elevated inflation expectations and strong economic data are weighing on expectations around the number of Fed rate cuts this year. Despite this, the buy-on-dip strategy remains in place, protecting downside risks for gold prices," ANZ analysts said in a note. Last week, Fed Governor Christopher Waller said he still believes that the U.S. central bank should cut rates next week. Data showed that top consumer China's imports of gold fell for a second successive month in June. China's imports of platinum in June fell 6.1% from the prior month. Spot silver gained 0.7% to $38.43 per ounce, platinum rose 1.8% to $1,447.75 and palladium was 2.5% higher at $1,271.10.
Business Standard
2 days ago
- Business
- Business Standard
Indian Rupee slides to one-month low against US dollar
Indian Rupee declined to 86.36 per US dollar today, sliding to one month low amid a sustained corrective action. The currency trades at 86.24 per US dollar right now, down 8 paise on the day. On the NSE, USD/INR futures are up 0.11% at 86.27. The Indian rupee gave up initial gains to settle 4 paise lower at 86.16 against the US dollar on Friday, dragged by foreign fund outflows, rising global crude oil prices and a steep decline in domestic equity markets. Meanwhile, the US Dollar index gave back recent gains and is quoting marginally lower at 98.06. Local equities are choppy after losing in last session amid uncertainty over US tariffs and a muted start to the quarterly earnings season.
Mint
2 days ago
- Business
- Mint
Gold prices today in your city: Check prices in Mumbai, Bengaluru, Chennai, Hyderabad, New Delhi and Kolkata on July 21
Gold and silver prices in your city on July 21: Gold prices zoomed up on July 21 (Monday) during early trade, as investors watch for trade negotiations between the United States and other countries. Experts opine that continued uncertainty over tariffs will likely buoy gold prices. Further, the US Dollar undex slipped 0.10 per cent today, bolstering flows into the yellow metal. MCX Gold August 5 contracts traded 0.11 per cent higher at ₹ 98,127 per 10 grams around 9.10 am; while the MCX Silver September 5 contracts were down 0.01 per cent at ₹ 1,12,937 per kg at that time. Overall, experts agree that gold and silver are safe haven bets that investors can make to safeguard their portfolios in these volatile markets and with increased risk aversion. Over the past 20 years, gold prices have skyrocketed by an impressive 1,200 per cent from ₹ 7,638 in 2005 to over ₹ 1,00,000 in 2025 (till June), and delivered positive returns in 16 of these years. Year-to-date (YTD), gold prices have risen 31 per cent, with consistent Record highs solidifying its position among 2025's top-performing asset classes and a reliable hedge. Further, silver has also proved resilient. Prices have held above the ₹ 1 lakh/kg mark for the past three week. Over the past 20 years (2005-2025), the metal has gained a solid 668.84 per cent. The MCX gold index was at ₹ 98,520/10 gm at 11 am on July 21, the official website showed. Meanwhile, MCX silver prices were at ₹ 1,13,255/kg, it showed. Further, 24-carat gold was priced at ₹ 98,950/10 gm, according to data on the Indian Bullion Association (IBA) at 11 am on July 21. Further, 22-carat gold was priced at ₹ 90,704/10 gms. Silver prices today are at ₹ 1,13,470/kg (Silver 999 Fine), as per the IBA website. So, check here gold and silver prices in your city today on July 21 — Delhi, Kolkata, Mumbai, Hyderabad, Bengaluru, and Chennai. Notably, for retail customers, jewellers may add making charges, taxes and GST to the bill, which could hike the final price for you. • Gold bullion rates in Mumbai— ₹ 98,770/10 gm. • MCX Gold ratein Mumbai — ₹ 98,520/10 gm. • Silver bullion rate in Mumbai— ₹ 1,13,260/kg. • MCX Silver 999 rate in Mumbai — ₹ 1,13,255/kg. • Gold bullion rates in New Delhi— ₹ 98,590/10 gm. • MCX Gold rate in New Delhi — ₹ 98,520/10 gm. • Silver bullion rate in New Delhi— ₹ 1,13,090/kg. • MCX Silver 999 rate in New Delhi — ₹ 1,13,255/kg. • Gold bullion rates in Kolkata— ₹ 98,630/10 gm. • MCX Gold rate in Kolkata — ₹ 98,520/10 gm. • Silver bullion rate in Kolkata— ₹ 1,13,130/kg. • MCX Silver 999 rate in Kolkata — ₹ 1,13,255/kg. • Gold bullion rates in Bengaluru— ₹ 98,840/10 gm. • MCX Gold rate in Bengaluru — ₹ 98,520/10 gm. • Silver bullion rate in Bengaluru— ₹ 1,13,370/kg. • MCX Silver 999 rate in Bengaluru — ₹ 1,13,255/kg. • Gold bullion rates in Hyderabad— ₹ 98,920/10 gm. • MCX Gold rate in Hyderabad — ₹ 98,520/10 gm. • Silver bullion rate in Hyderabad— ₹ 1,13,460/kg. • MCX Silver 999 rate in Hyderabad — ₹ 1,13,255/kg. • Gold bullion rates in Chennai— ₹ 99,050/10 gm. • MCX Gold rate in Chennai — ₹ 98,520/10 gm. • Silver bullion rate in Chennai— ₹ 1,13,610/kg. • MCX Silver 999 rate in Chennai — ₹ 1,13,255/kg. Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
