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44 stories mentioning GCM6

Every FINWIRES story that references GCM6, newest first.

Update: Gold Steadies Early Along With the Dollar and Yields

(Updates prices.)Gold prices were lower midafternoon on Thursday, remaining rangebound amid concerns high oil prices will push up inflation and force hikes to interest rates.Gold for June delivery was last seen down US$34.00 to US$4,719.00 per ounce.Gold has traded within a US$200 range since the start of the month despite the geopolitical turmoil that followed the Feb.28 start to the war on Iran. While the metal has a reputation as a store of value in turbulent times, traders have instead turned to bonds and the dollar to fend off the threat of higher interest rates as surging oil prices push inflation higher, keeping the metal rangebound."After a deep decline in March, April has been about stabilization for gold. While we get the sense that investors remain tactical, the tone of our conversations has been one of optimism. The all-time highs looked to many in the institutional space as overstretched, speculative, and perhaps overleveraged. After the decline and weakness last month, the view is that gold is closer to its fundamentals (i.e., macro-drivers plus uncertainty) than previously," Christopher Louney, a gold and natural gas strategist at RBC Capital Markets, wrote.The dollar rose, with the ICE dollar index last seen up 0.32 points to 98.91. Treasury yields also rose, with the yield on the U.S. two-year note last seen at 3.848%, up 4.2 basis points, while the 10-year note was paying 4.344%, up 3.7 points.

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Sectors53d ago

Gold Steadies Early Along With the Dollar and Yields

Gold prices steadied early on Thursday, remaining rangebound amid concerns high oil prices will push up inflation and force hikes to interest rates.Gold for June delivery was last seen down US$6.20 to US$4,746.80 per ounce.Gold has traded within a US$200 range since the start of the month despite the geopolitical turmoil that followed the Feb.28 start to the war on Iran. While the metal has a reputation as a store of value in turbulent times, traders have instead turned to bonds and the dollar to fend off the threat of higher interest rates as surging oil prices push inflation higher, keeping the metal rangebound."After a deep decline in March, April has been about stabilization for gold. While we get the sense that investors remain tactical, the tone of our conversations has been one of optimism. The all-time highs looked to many in the institutional space as overstretched, speculative, and perhaps overleveraged. After the decline and weakness last month, the view is that gold is closer to its fundamentals (i.e., macro-drivers plus uncertainty) than previously," Christopher Louney, a gold and natural gas strategist at RBC Capital Markets, wrote.The dollar edged higher early, with the ICE dollar index last seen up 0.09 points to 98.68. Treasury yields were little changed, with the yield on the U.S. two-year note last seen at 3.813%, up 0.7 basis points, while the 10-year note was unchanged at 4.307%.

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Sectors54d ago

Update: Gold Trading Higher as the U.S. Extends as Ceasefire for Its War on Iran

(Updates prices.)Gold traded higher midafternoon Wednesday following two losing sessions after the United States extended a ceasefire related to its war on Iran.Gold for June delivery was last seen up US$35.70 to US$4,755.30 per ounce.The rise comes as U.S. President Trump on Tuesday extended a ceasefire due to expire today. The move comes as Iran refused to resume talks to end the war until the U.S. Navy ends a blockade of its ports. While the standoff continues, oil prices remain under US$100 per barrel, lowering fears high oil prices while result in surging inflation and rising interest rates."Gold trades firmer after a two-day decline, as Trump's extension of the ceasefire reduces the immediate risk of military escalation -- and with it the threat of a further inflationary oil price spike -- while also weighing on the dollar," Saxo Bank noted.The dollar edged higher, with the ICE dollar index last seen up 0.15 points to 98.55. Treasury yields were mixed, with the U.S. two-year note last seen paying 3.802%, up 2.3 basis points, while the yield on the 10-year note was down 0.1 points to 4.298%.

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Sectors54d ago

Gold Trading Higher as the U.S. Extends as Ceasefire for Its War on Iran

Gold rose early Wednesday following two losing sessions after the United States extended a ceasefire related to its war on Iran.Gold for June delivery was last seen up $48.50 to US$4,768.10 per ounce.The rise comes as U.S. President Trump on Tuesday extended a ceasefire due to expire today. The move comes as Iran refused to resume talks to end the war until the U.S. Navy ends a blockade of its ports. While the standoff continues, oil prices remain under US$100 per barrel, lowering fears high oil prices while result in surging inflation and rising interest rates."Gold trades firmer after a two-day decline, as Trump's extension of the ceasefire reduces the immediate risk of military escalation -- and with it the threat of a further inflationary oil price spike -- while also weighing on the dollar," Saxo Bank noted.Still, the dollar edged higher early, with the ICE dollar index last seen up 0.1 points to 98.50. Treasury yields were mixed, with the U.S. two-year note last seen paying 3.79%, up 1.1 basis points, while the yield on the 10-year note was down 0.9 points to 4.29%.

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