Latest news with #GoldSilverCentral
Jordan News
3 days ago
- Business
- Jordan News
Gold Retreats from 4-Week High as Dollar Gains Slightly - Jordan News
Gold Retreats from 4-Week High as Dollar Gains Slightly Gold prices declined on Tuesday, pulling back from their highest level in nearly four weeks, as a slight recovery in the U.S. dollar weighed on the yellow metal. However, ongoing uncertainty surrounding U.S.–China trade talks kept investor caution intact and limited the downside. اضافة اعلان Spot gold fell 0.5% to $3,362.57 per ounce as of 04:29 GMT, after earlier hitting its highest since May 8. U.S. gold futures dipped 0.3% to $3,386.60. Gold had previously jumped about 2.7% in the prior session, marking its strongest daily gain in over three weeks. 'The dollar recovered slightly, and gold fell—so they are moving inversely at this point,' said Brian Lan, Managing Director at GoldSilver Central in Singapore. Despite the dip, gold continues to track global trade developments closely. While there was a minor pullback in investor positions, it wasn't as steep as during previous moments of apparent de-escalation in trade tensions, Lan added. The U.S. Dollar Index also recovered slightly from a six-week low, maintaining its influence on gold pricing. Trade Tensions in Focus: A call between President Donald Trump and Chinese President Xi Jinping is expected this week, according to the White House. The U.S. plans to double tariffs on steel and aluminum imports to 50% on Wednesday, coinciding with the deadline set by the Trump administration for countries to improve their trade offers. The European Commission announced it will present strong arguments this week for the U.S. to reduce or eliminate these tariffs, despite Washington's intention to increase them. Other Precious Metals: Silver: down 1.9% to $34.12/oz Platinum: up 0.1% to $1,064.66/oz Palladium: down 0.1% to $986.10/oz Volatility remains elevated across precious metals markets amid currency shifts and geopolitical developments.
Shafaq News
3 days ago
- Business
- Shafaq News
Gold retreats from near four-week peak as dollar ticks up
Shafaq News/ Gold prices fell on Tuesday, retreating from near a four-week high, as a modest rise in the dollar weighed on the metal, although uncertainty over the U.S.-China trade agreement kept investors cautious and limited the bullion's decline. Spot gold fell 0.5% to $3,362.57 an ounce, as of 0429 GMT, after hitting its highest level since May 8 earlier in the session. U.S. gold futures were down 0.3% to $3,386.60. The metal gained about 2.7% in the previous session, marking its strongest daily performance in more than three weeks. "Dollar recovered slightly and gold came down so it has been inversely correlated at this point of time," said Brian Lan, managing director at GoldSilver Central, Singapore. However, gold is still closely tracking developments around global trade, and while investors have slightly reduced their positions in gold, it is not to the extent seen in previous instances when tensions appeared to ease, said Lan. The U.S. dollar index recovered slightly from a six-week low. Trade-related uncertainty remains a key focus. U.S. President Donald Trump and Chinese President Xi Jinping will likely speak this week, the White House said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions. U.S. tariffs on imported steel and aluminum are scheduled to double to 50% on Wednesday, coinciding with the Trump administration's deadline for countries to submit their best offers in trade negotiations. The European Commission said on Monday it would make a strong case this week for the U.S. to reduce or eliminate tariffs despite Trump's decision to double import duties on steel and aluminum. Elsewhere, spot silver fell 1.9% to $34.12 an ounce, platinum edged up 0.1% to $1,064.66 and palladium was down 0.1% at $986.10.
Business Recorder
3 days ago
- Business
- Business Recorder
Gold retreats from near four-week peak as dollar ticks up
Gold prices fell on Tuesday, retreating from near a four-week high, as a modest rise in the dollar weighed on the metal, although uncertainty over the U.S.-China trade agreement kept investors cautious and limited the bullion's decline. Spot gold fell 0.5% to $3,362.57 an ounce, as of 0429 GMT, after hitting its highest level since May 8 earlier in the session. U.S. gold futures were down 0.3% to $3,386.60. The metal gained about 2.7% in the previous session, marking its strongest daily performance in more than three weeks. 'Dollar recovered slightly and gold came down so it has been inversely correlated at this point of time,' said Brian Lan, managing director at GoldSilver Central, Singapore. However, gold is still closely tracking developments around global trade, and while investors have slightly reduced their positions in gold, it is not to the extent seen in previous instances when tensions appeared to ease, said Lan. Safe-haven rush lifts gold to one-week peak as trade, geopolitical risks intensify The U.S. dollar index recovered slightly from a six-week low. Trade-related uncertainty remains a key focus. U.S. President Donald Trump and Chinese President Xi Jinping will likely speak this week, the White House said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions. U.S. tariffs on imported steel and aluminum are scheduled to double to 50% on Wednesday, coinciding with the Trump administration's deadline for countries to submit their best offers in trade negotiations. The European Commission said on Monday it would make a strong case this week for the U.S. to reduce or eliminate tariffs despite Trump's decision to double import duties on steel and aluminum. Elsewhere, spot silver fell 1.9% to $34.12 an ounce, platinum edged up 0.1% to $1,064.66 and palladium was down 0.1% at $986.10.
Ammon
3 days ago
- Business
- Ammon
Gold retreats from near four-week peak as dollar ticks up
Ammon News - Gold prices fell on Tuesday, retreating from near a four-week high, as a modest rise in the dollar weighed on the metal, although uncertainty over the U.S.-China trade agreement kept investors cautious and limited the bullion's decline. Spot gold fell 0.5% to $3,362.57 an ounce, as of 0429 GMT, after hitting its highest level since May 8 earlier in the session. U.S. gold futures were down 0.3% to $3,386.60. The metal gained about 2.7% in the previous session, marking its strongest daily performance in more than three weeks. "Dollar recovered slightly and gold came down so it has been inversely correlated at this point of time," said Brian Lan, managing director at GoldSilver Central, Singapore. The U.S. dollar index recovered slightly from a six-week low.
Mint
3 days ago
- Business
- Mint
Gold retreats from near four-week peak as dollar ticks up
(Reuters) - Gold prices fell on Tuesday, retreating from near a four-week high, as a modest rise in the dollar weighed on the metal, although uncertainty over the U.S.-China trade agreement kept investors cautious and limited the bullion's decline. Spot gold fell 0.5% to $3,362.57 an ounce, as of 0429 GMT, after hitting its highest level since May 8 earlier in the session. U.S. gold futures were down 0.3% to $3,386.60. The metal gained about 2.7% in the previous session, marking its strongest daily performance in more than three weeks. "Dollar recovered slightly and gold came down so it has been inversely correlated at this point of time," said Brian Lan, managing director at GoldSilver Central, Singapore. However, gold is still closely tracking developments around global trade, and while investors have slightly reduced their positions in gold, it is not to the extent seen in previous instances when tensions appeared to ease, said Lan. The U.S. dollar index recovered slightly from a six-week low. Trade-related uncertainty remains a key focus. U.S. President Donald Trump and Chinese President Xi Jinping will likely speak this week, the White House said on Monday, days after Trump accused China of violating an agreement to roll back tariffs and trade restrictions. U.S. tariffs on imported steel and aluminum are scheduled to double to 50% on Wednesday, coinciding with the Trump administration's deadline for countries to submit their best offers in trade negotiations. The European Commission said on Monday it would make a strong case this week for the U.S. to reduce or eliminate tariffs despite Trump's decision to double import duties on steel and aluminum. Elsewhere, spot silver fell 1.9% to $34.12 an ounce, platinum edged up 0.1% to $1,064.66 and palladium was down 0.1% at $986.10. (Reporting by Anmol Choubey in Bengaluru; Editing by Rashmi Aich and Eileen Soreng)
