Gold prices steady despite stronger dollar
Gold prices held broadly steady on Monday as a stronger dollar offset support from reduced expectations for a Fed rate hike in October.
Gold prices were little changed during Monday’s trading despite a stronger dollar, amid continued uncertainty over the outlook for US interest rates and prospects for a deal to end the conflict in the Middle East.
The US Dollar Index, which measures the greenback against a basket of six major currencies, rose 0.45% to 102.38.
Tim Waterer, chief market analyst at KCM Trade, said weak labor market data had reduced expectations for a Federal Reserve rate hike in October, providing some support for gold, Reuters reported.
Traders currently see an 18% probability of a rate hike in October, while the probability of a December hike remains at 88%, according to the FedWatch tool.
|
Precious Metals Prices |
|||
|
Metal |
Price ($/oz) |
Change ($) |
Change (%) |
|
Gold (December futures) |
4,164.20 |
+1.90 |
— |
|
Gold (spot) |
4,140.13 |
(1.06) |
— |
|
Silver (December futures) |
61.335 |
+0.92 |
+1.50% |
|
Silver (spot) |
61.0408 |
+0.68 |
+1.10% |
|
Platinum (spot) |
1,715.10 |
+13.57 |
+0.80% |
|
Palladium (spot) |
1,171.54 |
+0.40 |
— |
Market Indices
Commodity Price
About Us
Join Us
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}