Silver closes over 1% higher
Silver futures closed higher on Thursday, as the US dollar fell against most majors after the release of weak US data and Fed Chairman Jerome Powell's statements.
Powell said today that the Fed wants to make sure there are strong signs on the US economic recovery before changing its current monetary policy, which includes near zero interest rates and asset purchases.
Data showed that the US unemployment claims rose to 744K during the past week, worse than forecasts of 684K.
The International Monetary Fund raised its projections for the US economy to grow by 6.4% in 2021 based on the Federal Reserve's forecasts.
The 10-year US Treasury bond yield fell to 1.641% today.
The dollar index fell against a basket of currencies by 0.4% to 92.07 points as of 21:26 GMT, after it hit a high of 92.4 points and a low of 92.0 points.
Silver May futures rose 1.3%, and closed at $25.59 an ounce.
US stocks turn higher, S&P 500 closes at fresh record
The major US stock indices closed higher on Thursday, as S&P 500 hit a new record close for the second straight session amid optimism about the US economy.
Data showed that the US unemployment claims rose to 744K during the past week, worse than forecasts of 684K.
The International Monetary Fund raised its projections for the US economy to grow by 6.4% in 2021 based on the Federal Reserve's forecasts.
The 10-year US Treasury bond yield fell to 1.641% today.
Fed Chairman Jerome Powell said today that the Fed wants to make sure there are strong signs on the US economic recovery before changing its current monetary policy, which includes near zero interest rates and asset purchases.
To the oil market, WTI crude April futures fell 0.3% or 17 cents, and closed at $59.60 a barrel, after hitting a high of $59.8 and a low of $58.8.
Brent May futures rose 0.1% or 4 cents, to $63.20 a barrel, after hitting a high of $63.4 and a low of $62.3.
As for stocks, Dow Jones rose 0.2% or 57 points, and closed at 33,503, with a day high of 33,506, and a low of 33,342.
S&P 500 rose 0.4% or 17 points to 4,097, after hitting a high of 4,098 and a low of 4,082.
Nasdaq rose 1% or 140 points to 13,829, with a high of 13,830 and a low of 13,758 points.
Dollar deepens losses as US bond yields fall
The US dollar fell against most majors on Thursday, after the release of weak US data, in addition to a drop in the US Treasury bonds.
Data showed that the US unemployment claims rose to 744K during the past week, worse than forecasts of 684K.
The International Monetary Fund raised its projections for the global GDP to grow by 6% in 2021.
The IMF also estimated the US economy to grow to 6.4% in 2021 based on the Federal Reserve's forecasts.
The 10-year US Treasury bond yield fell to 1.641% today.
The dollar index fell against a basket of currencies by 0.4% to 92.07 points as of 18:06 GMT, after it hit a high of 92.4 points and a low of 92.0 points.
Gold closes at 4-week high after Fed Chief's remarks
Gold prices rose on Thursday, as the US dollar fell against most majors after the release of weak US data, and gold hit a 1-month high following Federal Reserve Chairman Jerome Powell's statements.
Powell said today that the Fed wants to make sure there are strong signs on the US economic recovery before changing its current monetary policy, which includes near zero interest rates and asset purchases.
Data showed that the US unemployment claims rose to 744K during the past week, worse than forecasts of 684K.
The International Monetary Fund raised its projections for the US economy to grow by 6.4% in 2021 based on the Federal Reserve's forecasts.
The 10-year US Treasury bond yield fell to 1.641% today.
The dollar index fell against a basket of currencies by 0.4% to 92.07 points as of 18:17 GMT, after it hit a high of 92.4 points and a low of 92.0 points.
Gold June futures rose 1%% or $16.6, and closed at the highest level since February 25 at $1,758.2.