Wholesale Gold Bar Prices 'Rangebound' at $1800 as Stocks Rise Despite Covid bullionvault.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bullionvault.com Daily Mail and Mail on Sunday newspapers.
Tuesday, 5/11/2021 14:42
GOLD and SILVER PRICES fell Tuesday alongside stock markets, bond prices and many commodities, falling back to $1820 and $27.20 per ounce ahead of tomorrow s much-hyped US inflation data. With falling bond prices driving longer-term interest rates higher across Western economies, both US and European crude oil prices fell 1.3% for the day despite East Coast gas stations the world s largest economy running dry amid the continued shutdown of a major pipeline. Germany s 10-year borrowing cost jumped to its least negative since March 2020 above -0.16%, and 10-year UK Gilt yields added 10 basis points for the week so far at 0.85% per annum. Copper rose to yet another all-time high, more than doubling from this time last year, while iron ore jumped another 5% to set its own new records.
Friday, 4/23/2021 15:41
GOLD PRICES fell almost $20 per ounce Friday afternoon in London, erasing all but $5 of the week s earlier gains as new data said the global economic re-opening continues to accelerate even as daily deaths and new infections from Covid-19 set a fresh record worldwide. With a Norwegian climber today giving the first positive test on Mount Everest, the world s 2nd most populous nation India – hit by a shortage of oxygen and a series of fatal hospital accidents – reported almost 1/3rd of a million new cases. Consumers are also not willing to step out of their homes due to the coronavirus outbreak, with softer retail demand cutting the premium for gold landed in India versus the global storage and trading hub of London in half from last week s level to $2 per ounce.
Wednesday, 3/17/2021 14:18
GOLD PRICES retreated from new 2-week highs at $1740 in London on Wednesday, dropping $10 per ounce as government bond prices fell around the world, edging long-term interest rates higher ahead of today s monetary policy statement and forecasts from the Federal Reserve. Commodities also fell, down 0.3% on Bloomberg s index, and global stock markets slipped after failing Tuesday to take out the record-high closing level on the MSCI World Index hit 1 month ago. They do want to suggest that [economically] things are better, reckons Bill English, a former Fed official now teaching at the Yale School of Management, looking at today s Fed announcement.
Thursday, 2/04/2021 14:21
GOLD PRICES fell to 2-month lows beneath $1800 against a rising US Dollar in Asian and London trade Thursday, dropping 2.8% for the week so far as claims for US unemployment benefits came in below analysts forecasts for the latest data. With yesterday s ADP Payrolls report pointing to stronger-than-forecast hiring in tomorrow s official Non-Farm jobs estimate, global interest rates meantime rose sharply with inflation expectations amid new forecasts for a strong economic rebound and reflation from the Covid Crisis thanks to mass vaccinations.
Gold price forecasts for 2021 now range from the top bear s $1650 to the most bullish $2300 per ounce in today s annual outlook competition from bullion market trade association the LBMA.