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Gold Prices – XtremeCuztoms

Category: Gold Prices

Gold Prices Near Record Highs as US Banking Crisis Continues

Gold prices are near record highs amid global geopolitical tensions and an ongoing crisis in the U.S. banking sector. Gold futures on the New York Mercantile Exchange hit a record high of $2,072 per ounce on May 4. Spot gold price on the day was also within a few cents of its all-time high of…


Gold Exceeds $2,000 to Hit Record Annual Level Amid Weak Economic Data

The price of gold peaked above $2,000 on April 5, boosted by weak U.S. economic data as well as fears from the banking crisis shaking up the financial sector. Spot gold prices hit $2,028 an ounce in early trading on Wednesday, hitting the highest level since March 2022. U.S. gold futures hit a high of…


Gold Plunges to a 30-Month Low on a Strong US Dollar

The price of gold fell to a 30-month low on Sept. 26, due to the growing strength of the U.S. dollar and rising Treasury yields against foreign currencies. This comes amid further prospects of aggressive interest rate hikes by the Federal Reserve and other major central banks in their fight to defeat inflation, causing gold prices…


Where Will Gold Prices Go? It Depends on the Economy

Commentary Gold, traditionally an inflation hedge and a haven investment during times of market duress, has not been an effective investment this year. Inflation has been elevated. The Consumer Price Index was up 8.5 percent in July versus a year ago, slightly lower than the 9.1 percent year-over-year reading in June. And despite a recent…


Gold Prices Hits Lowest Level in Nine Months

Gold prices weakened in Tuesday trade to its lowest level in nine months, while the dollar strengthened ahead of the crucial U.S. inflation data release. Spot gold prices fell to $1,722.36 per ounce during early trade on July 12, the lowest since Sept. 30. It later recovered and was trading at around $1,734 by 5:16…


What Does the G7 Russian Gold Ban Mean for Gold Stocks?

The G7 plans to announce a ban on Russian gold imports. But does that really matter for investors? While there hadn’t been an official Russian gold ban until now, this news isn’t exactly a surprise to the industry. And we’re seeing a lack of reaction in gold prices on June 28. Typically, a ban on imports…


Gold Set to Fall For 4th Week as Dollar Spikes

Gold prices were trading lower on Friday, all set to register the fourth consecutive week of decline amidst a rise in the U.S. dollar and the Federal Reserve raising key interest rates. Gold futures were trading in the red at $1,813 per ounce as of May 13, 14:11 UTC, at which time the U.S. dollar…


Dollar Rally Accelerates Slide in Metals

Gold and other precious metals dropped on Thursday, with palladium shedding more than 8 percent, as investors flocked to the dollar-driven by bets the U.S. Federal Reserve will stick to aggressive rate hikes. Spot gold fell 1.6 percent to $1,823.14 per ounce by 01:51 p.m. EDT (1751 GMT). U.S. gold futures settled down 1.6 percent at $1,824.60….


Gold Falls and Dollar Climbs Following Fed’s Official Remarks

Gold prices declined on April 22 trade as the U.S. dollar and Treasury yields climbed following comments from a Federal Reserve official that a sizable interest rate hike might be incoming. Gold futures were trading at $1,944 an ounce as of 13:57 UTC (9:57 a.m. Eastern time) on April 22, down 0.4 percent from opening….


Gold Prices Surge Following Geopolitical Uncertainties, Global Inflation

Gold prices registered their highest levels since March 11 as uncertainties regarding the ongoing war in Ukraine increased demand for safe-haven bids while global economies face high rates of inflation and zero-tolerance COVID lockdowns have caused chaos in China, dampening its growth. The metal has gone up over 2.71 percent since the start of the…