Gold prices drifted higher on Friday
helped by a drop in U.S. Treasury yields and setting the metal
on path for a fourth straight week of gains, as investors took
stock of the recent inflation data ...
Slowing economic growth is weighing on industrial metals prices but zinc and aluminium are likely to outperform if sky-high energy prices force European smelters to cut output further, leading to larger shortages.
* Singapore premiums slightly widen to $1.50-$2.30/oz. * High premiums for gold, silver likely in 2022 - Singapore dealer. * Gold sold at par with benchmark in Japan. By Rajendra Jadhav and Bharat Gautam.
Gold prices inched lower on Friday but
were still on track for a weekly rise, as an overall weakness in
the dollar offset pressure from an uptick in bond yields and
expectations of further rate hikes ...
Most London base metal prices eased on Friday, taking a breather from strong rallies in the previous session on easing worries over demand. Three-month copper on the London Metal Exchange eased 0.2% to $8,160 a tonne as of 0206 GMT, hovering around a six-week high.
Speculators in the copper market, viewed as an indicator of the health of the economy, are betting a global downturn means the metal used in power and construction has further to fall, despite its recent rebound. The latest data shows more funds with bearish positions than bullish copper positions on the London Metal Exchange and COMEX.
Gold prices edged lower on Thursday,
weighed down by prospects of more rate hikes by the U.S. Federal
Reserve even as data pointed to signs of inflation peaking.
analyst
* Fed officials hint at big rate hikes
(Recasts, adds comments, and updates prices)
By Arundhati Sarkar
Aug 11 (Reuters) - Gold prices edged lower on Thursday from
last ...
technicals
(Recasts and updates prices)
By Brijesh Patel
Aug 11 (Reuters) - Gold prices retreated on Thursday from
their highest levels in more than one month, as comments by U.S.
Copper prices climbed on Thursday to their highest in nearly six weeks, as lower-than-expected U.S. inflation eased worries of aggressive rate hikes that could hurt growth and metals demand. Three-month copper on the London Metal Exchange rose 0.1% to $8,090 a tonne at 0300 GMT, while the most-traded August copper contract on the Shanghai Futures Exchange rose 1.3% to 62,130 yuan a tonne.
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