Gold prices breach $1800

Economies.com
2022-07-01 05:50AM UTC

Gold prices fell on Friday as the dollar index rose against major rivals, piercing the psychological level of $1800.

 

Later today we'll see important data from the US manufacturing PMI.

 

Some Fed officials mentioned this week the central bank could be heading for a 0.75% rate hike at its next meeting.

 

FOMC member John Williams believes the US economy could avoid getting into recession.

 

The final report of the GDP growth rate measured a contraction of 1.6% in the first quarter.

 

The Atlanta Federal Reserve expected a US contraction in the second quarter by 1%.

 

The dollar index rose 0.2% to 104.8 as of 5:38 GMT, with a session-high at 104.9.

 

Spot gold prices fell 0.5% to $1,797.5 an ounce, while marking a monthly loss of 2.2%, and a quarterly loss of 7.7%. 

Commodities News

Gold News

Commodities

Gold climbs as dollar stabilizes ahead of important data
2024-03-27 21:29PM UTC
Gold prices rose on Wednesday as markets await important US data this week while the dollar trades ...
Oil News

Commodities

US crude stocks rise unexpectedly
2024-03-27 15:39PM UTC
The Energy Information Administration reported a buildup of 3.2 million barrels in US crude stocks ...
Oil News

Commodities

Oil prices extend losses after a spike in US inventories
2024-03-27 13:21PM UTC
Oil prices declined in European trade on Wednesday, extending losses for the second session, with ...

Commodities Technical Analysis

Natural gas Analysis

Commodities

Natural gas price faces solid support – Forecast today – 28-3-2024
2024-03-28 05:37AM UTC
Natural Gas Price Analysis and Forecast Expected Scenarios Faced solid historical support at ...
Platinum Analysis

Commodities

Platinum price repeats the positive closings – Forecast today – 28-3-2024
2024-03-28 05:34AM UTC
Platinum Price Analysis and Forecast Expected Scenarios Platinum price still holding above ...
Copper Analysis

Commodities

Copper price tends towards the positivity – Forecast today – 28-3-2024
2024-03-28 05:33AM UTC
Copper Price Analysis and Forecast Expected Scenarios Copper price ended the temporary negative ...