Home Commodities Gold on Pace for its Best Week in 6 Months

Gold on Pace for its Best Week in 6 Months

by Paul Ebeling

#gold #USD #Treasuries


“The weaker USD and US Treasury yields dropping below 1.6% has helped gold prices to break above 1,800”— Paul Ebeling

Gold prices rose to a 2.5-month high in Asia Friday and were on pace for their best wk in 6 months, boosted by a weaker USD and a pullback in Treasury yields as investors await US NFPs report due later Friday.

Spot gold was up 0.2% at 1,818.73oz by 0652 GMT, after hitting its highest since 16 February earlier in the session. Bullion gained nearly 3% so far this wk.

US gold futures rose 0.2% at 1,818.80.

The US jobs data is a important point. If data comes out really good, we can see people being more positive on the economy and it may lead to Fed increasing the interest rates earlier than expected, which will impact gold.

.DXY slipped to a 1-wk low Vs its peers, while benchmark 10-yr Treasury yields hang close to 2-wk lows.

Have a healthy weekend, Keep the Faith!

You may also like


Your Trusted Source for Capital Markets & Related News

© 2024 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.