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Gold prices rose for a third consecutive session on Tuesday, hitting the highest level since July 3, as the dollar came under fresh pressure after Republican lawmakers abandoned their effort to replace Obama’s Affordable Care Act.
Gold prices ended Monday’s session up 0.4% at $1233.76 an ounce on growing perception that the U.S. central bank may be less willing to lift borrowing costs for a third time this year.
Gold prices settled at $1228.82 an ounce on Friday, gaining 1.35% on the week, as the dollar fell after weaker-than-expected U.S. inflation data reduced the market’s expectations for a Federal Reserve interest rate hike by September.
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Gold prices ended Thursday’s session down $2.32 after Federal Reserve Chair Janet Yellen said she believed a recent slowdown in inflation won’t last.
Gold prices ended Wednesday’s session up $3.80 an ounce, extending their gains to a third-straight session, after Federal Reserve Chair Janet Yellen signaled a cautious approach to further monetary tightening.
Gold prices rose yesterday, edging further away from a 4-month low struck earlier this week, as the dollar weakened ahead of an appearance by Federal Reserve chair Janet Yellen in front of a congressional committee.
Gold started the week on the back foot, testing the $1208-$1205 area, but managed to recover its earlier losses and ended the day up $1.55 at $1214.09 an ounce.
Gold prices settled at $1212.20 an ounce on Friday, suffering a loss of 2.36% on the week, as the dollar edged higher after the Labor Department reported that the economy added 222000 jobs in June, surpassing consensus estimates of 175000.
Gold edged higher on Tuesday as investors awaited Federal Reserve minutes of its June meeting.
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Gold prices dropped nearly 1.8% on Monday to settle at their lowest level since May 10 as the dollar firmed after stronger-than-expected manufacturing data bolstered confidence in the US economy.
Gold prices settled at $1241.43 an ounce on Friday, suffering a loss of 1.25% on the week and 2.17% over the month.
Gold prices ended Thursday’s session down $4.32 an ounce but remained within the trading range of the past two weeks.
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Sign up to get the latest market updates and free signals directly to your inbox.Gold inched higher on Wednesday as the dollar’s weakness persisted but a strong session for equities did limit buying interest.
Gold prices rose $2.65 an ounce on Tuesday, moving away from a six-week low struck earlier this week, as a weaker dollar and losses in equity markets boosted the appeal of the precious metal as an alternative investment.
Gold prices fell $12.75 an ounce on Monday, surrendering the majority of the gains made over the past three sessions, as the dollar firmed ahead of a speech by Federal Reserve Chair Janet Yellen.