Latest news with #goldfutures
Yahoo
20 hours ago
- Business
- Yahoo
Comex Gold Futures Likely to Continue to Consolidate, Chart Shows
Comex gold futures were likely to continue to consolidate, based on the daily chart's triangle pattern, Phillip Nova said, adding that further consolidation within the $3,250-$3,450 range was expected.
Argaam
21 hours ago
- Business
- Argaam
Gold retreats on lower expectations for rate cuts in US
Gold futures prices declined after a strong US jobs report dampened expectations of interest rate cuts by the Federal Reserve. Today, gold futures for August delivery eased 0.35%, or $10.90, to $3,335.70 per ounce. Meanwhile, spot gold prices rose by 0.15%, or $4.78, to $3,315.20 per ounce as of 8:57 a.m. Mecca time. The US dollar index—which measures the performance of the greenback against a basket of six major currencies—fell by 0.2% to 99 points after earlier touching 98.95. While July silver futures rose by 0.25% to $36.24 per ounce, spot palladium prices fell by around 0.15% to $1,049.66. In contrast, spot platinum prices rose by 2.3% to $1,195.35. Investors have scaled back their bets on rate cuts this year to just one cut in October, down from two previously expected, after the US economy added more jobs than anticipated in May, according to Reuters.
Yahoo
31-05-2025
- Business
- Yahoo
Gold's Rally Broke Down in May. It's Still Doing Better Than Stocks.
Gold just wrapped up its worst month since December, but don't count the yellow metal out just yet. Gold futures fell 0.5% to $3,288.90 per troy ounce in May to snap a four-month winning streak, with the metal marking its biggest monthly decline in five months, according to Dow Jones Market Data. Gold is still up 25.1% this year, far outpacing the S&P 500's 0.5% 2025 gain.
Bloomberg
18-05-2025
- Business
- Bloomberg
Chinese Trader Who Made $1.5 Billion on Gold Builds a Giant Bet on Copper
A reclusive Chinese billionaire whose prescient gold trades turned into an eye-catching windfall has now become the country's biggest copper bull, amassing a bet worth nearly $1 billion in a market jolted by escalating competition between the US and China. Bian Ximing, who made an early fortune in plastic tubes before seeking a quiet life in Gibraltar, has made waves over the last two years with his investment in Chinese gold futures, betting on what he argued would be a global effort to reduce reliance on the dollar and counter inflation worries. His fund came in just as bullion was beginning a record-breaking ascent — and made roughly $1.5 billion in profit in the process, according to Bloomberg calculations.
Wall Street Journal
12-05-2025
- Business
- Wall Street Journal
Gold Futures Slump as U.S., China Agree to Substantial Tariff Cuts
Gold futures slid as the U.S. and China agreed to substantially lower tariffs, increasing risk-on sentiment in markets. Continuous gold futures on the New York Mercantile Exchange fell 3.6% to $3,223.80 a troy ounce in European morning trading, the lowest level since May 5. The precious metal remains up more than 20% in the year to date on safe-haven demand, reflecting U.S. tariff-driven market volatility and geopolitical conflicts.
