Gold at 5-week high as India demand supports
ecPulse
2014-10-21 10:00AM UTC
Gold prices rose to the highest level in five weeks on Tuesday amid the seasonal physical demand from India and the lack of pressure by the U.S. dollar. Renewed physical buying is related to the improved levels of demand for gold in India - the world`s second-largest consumer. The wedding season is about to start, in addition to Diwali Hindu festival, which usually boosts prices at this time of the year. This season, which starts November and extends to December, is a peak consumption period for gold jewelry. Meanwhile, investors turned their focus to the U.S. data due to be released today, which could give further indications on the strength of the U.S. economy and the future of the Federal Reserve`s monitory policy. Thus, gold is expected to maintain its strength amid doubts of weak global economic growth, as traders seek the metal as a safe haven in the face of market volatility.
Commodities News
Commodities
Gold driven lower by dollar's strength
2024-05-07 19:25PM UTC
Gold prices fell on Tuesday as the dollar rose against most major rivals, amid ongoing uncertainty ...
Commodities
Brent climbs 1.25% after Saudi crude price hike
2024-05-06 14:34PM UTC
International benchmark Brent rose 1.25% in the early American trade on track for the first profit ...
Commodities
Gold recovers as dollar loses ground
2024-05-06 09:32AM UTC
Gold prices rose in European trade on Monday for the first session in three days away from ...
Commodities Technical Analysis
Commodities
End of day crude oil price forecast update - 07-05-2024
2024-05-07 18:09PM UTC
Crude oil price traded with clear negativity to reach few pips away from our waited target at ...
Commodities
Coffee price collapses – Forecast today – 7-5-2024
2024-05-07 05:38AM UTC
Expected Scenarios and Trading Range Scenario 1: Strong Negative Pressure Coffee price fails ...
Commodities
Natural gas price needs to confirm the breach – Forecast today – 7-5-2024
2024-05-07 05:37AM UTC
Expected Scenarios and Trading Range Scenario 1: Attempted Breakout Natural gas price ...