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Gold price drops to week low on hawkish Fed, US data

The decline comes days after the spot price hit aΒ record highΒ of $2,449.89 on optimism over the Federal Reserve’s monetary policy. Making bullion less attractive, US business activity accelerated to its highest level in over two years in May, suggesting an uptick in economic growth during...

Gold price hits $2,450 on rate cut optimism, geopolitical risks

US gold futures saw a similar rise of 0.5% at $2,429.60 per ounce, having hit $2,454.20 earlier in the day. The metal eased off its high on profit-taking but the outlook remains positive and β€œnew records could be on the way,” explained Fawad Razaqzada, market...

Spectacular copper price rally only gaining momentum

The spectacular upward move over the last couple of weeks comes as so-called managed money build long positions – bets on higher prices in future – to the equivalent of more than 2 million tonnes on the London Metal Exchange, a new record. Likewise,...

The Golden Surge: Goldman Sachs Predicts $2,700 Gold Price as Uncertainty Reigns

Volatility in Precious Metal Market Gold ended the day with little change, reacting to Fed chair Powell's cautious stance on rate cuts, causing both Treasury yields and the dollar to surge. The metal, traditionally tied to monetary policy shifts, remains on an upward trajectory...

The Rise of Copper: A Bullish Forecast Sparks $10,000 Predictions

Concentrating minds on the copper market A decade low in spot treatment charges and refining costs has jolted the copper market into a frenzy, with evidence of heightened competition between Chinese and Indian refiners for raw materials. The remarkable plunge from 2023's high treatment...

The Golden Surge: Gold Price Surpasses $2,200 Mark for the First Time

Gold's Unprecedented Rally Gold, the age-old harbinger of uncertainty, has once again set tongues wagging in the financial world. The precious metal, which embarked on its latest rally mid-February, has shattered records with a seemingly unstoppable climb. Fuelled by enduring tailwinds such as heightened...