Gold and Silver Tighten Ratio to 66.9 as Both Metals Roar Higher
10 Articles
10 Articles
Gold, silver trade volatile amid elevated dollar, easing US Fed rate hike bets; what should investors do?
Gold and silver prices witnessed some volatility in early trade on the MCX on Monday, 6 July, torn between easing concerns over US Fed rate hikes after softer-than-expected jobs data, and elevated dollar.
The price of gold rose 2.5 percent last week to $4,175 per ounce, bringing a smile to investors' faces for the first time in five weeks, after weaker-than-expected US non-farm payroll data reduced the likelihood of the Federal Reserve (Fed) raising interest rates anytime soon.
The weaker-than-expected non-farm payrolls report for June in the US lowered expectations for a Fed interest rate hike and weakened the dollar index. This development led to a rise in precious metals, while base metals and energy stocks saw mixed performance.
The markets did not wait long to react. Faced with weaker US economic indicators, investors immediately strengthened their positions on gold, reinvigorating the rise in precious metal. Behind this movement is a major change of perspective: expectations around the next decisions of the Federal Reserve are changing, weakening the dollar and beating cards for all financial assets. From precious metals to cryptos, this new reading of the American en…
Gold and Silver Tighten Ratio to 66.9 as Both Metals Roar Higher - Invest In Crypto News
Key Takeaways Gold climbed to $4,175 on July 3 after U.S. payrolls rose just 57,000 in June. On Saturday, July 4, gold was $4,187 per ounce at 11:30 a.m. Eastern time.Silver surged 7% to over $62, narrowing the gold to silver ratio to 66.9.Traders cut September Fed rate hike odds from 66% to 53% following the report. Gold prices climbed from lows near $4,012 per ounce on June 30 to close around $4,175 by July 3, a gain of roughly 2.1%. It marked…
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Gold and Silver Tighten Ratio to 66.9 as Both Metals Roar Higher
Gold and silver posted their strongest weekly performance in more than a month after a disappointing U.S. jobs report forced traders to rethink Federal Reserve policy. Gold prices climbed from lows near $4,012 per ounce on June 30 to close around $4,175 by July 3, a gain of roughly 2.1%. It marked t...
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