Gold prices have been falling for six consecutive months amid metal purchases by global central banks. At the end of September, gold fell by 0.9%. Since the beginning of the year, the cost of this precious metal has decreased by 8% and reached at auction on Wednesday 1 thousand 202 dollars 90 cents per troy ounce. According to the World Gold Council, the world central banks for the six months increased their gold reserves by 8% in annual terms, having bought 193 tons of 300 kilograms of gold. Senior Investment Strategist at U.S. Bank Rob Haworth believes that gold prices will continue to fall amid further US dollar growth, which is associated with the plans of the Federal Reserve System to further increase rates upon condition of stable US economic growth.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Financial markets saw record heights earlier on Friday, with the Euro continuing its 21-month gain streak and gold prices hitting its highest level amid a weakened Dollar. The Euro soared above the Dollar by 1.7%, trading at $1.1616 for the ...
Gold prices rose earlier on Tuesday morning in Asia on the back of renewed hope as the U.S. and the Europe pledged on additional stimulus packages. In the U.S., another round of stimulus measures is underway in Congress, as previous stimulus ...
Gold prices traded lower in Asia on Friday morning amid hopes for COVID-19 vaccines from the U.S. and U.K. bolstered investor appetite. Sentiment was further boosted with the European Central Bank (ECB) signaling that it may leave interest ...