You are currently viewing our desktop site, do you want to download our app instead?
Moneyweb Android App Moneyweb iOS App Moneyweb Mobile Web App

NEW SENS search and JSE share prices

More about the app

Gold breaks $1 800 again as traders await steer from Fed minutes

Silver and platinum were flat, while palladium fell 0.4%.
Image: David Gray/Bloomberg

Gold climbed above $1 800 an ounce again as investors took a risk-off turn before the release of Federal Reserve meeting notes that should bring fresh insight on US monetary policy.

Minutes from the Fed’s June gathering will be combed for more clues on the bank’s thinking around rates, bond-purchasing and the economic outlook. Gold is eyeing its highest close in three weeks as softer inflation-adjusted Treasury yields boost the metal’s appeal following its worst month since 2016 in June.

“The risk off tone saw investor demand for the safe-haven asset rise,” Australia and New Zealand Banking Group Ltd. said in an emailed note. Stocks fell in Asia, tracking US declines, amid renewed concerns about the economic recovery.

Gold has had a volatile year, with June’s steep decline driven by rising Treasury yields, a stronger dollar, and bets that governments will begin reining in pandemic stimulus. But lingering economic risks were highlighted in weaker-than-expected figures on the US services sector.

Bullion rose 0.3% to $1 802.60 by 10:01 a.m. Shanghai time, for a 1.8% gain so far this month. Silver and platinum were flat, while palladium fell 0.4%

© 2021 Bloomberg

COMMENTS   1

You must be signed in to comment.

SIGN IN SIGN UP

When will Gold shares move up?
They are mostly 30% – 40% down, yet loaded with serious cash and still making good profit today.

Look at ANG, HAR, GFI and SSW – all seriously cheap.

Another to look at is KIO, EXX, RBP and AGL.

End of comments.

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR
BTC / USD

SEARCH COMPANIES
Enter company name or share code:

ECONOMIC DATA  

  CPIThe Consumer Price Index (CPI) measures monthly changes in prices for a range of consumer products Aug 2021 4.60%
  CPI ex OERThe Consumer Price Index excluding Owners’ Equivalent Rent (CPI ex OER) measures monthly changes in prices for a range of consumer products excluding Owners’ equivalent rent that measures changes in the cost of owner-occupied housing Aug 2021 5.20%
  RepoThe rate at which the Reserve Bank lends money to the country’s commercial banks and set by the Reserve Bank’s Monetary Policy Committee. Sep 2021 3.50%
  Prime lendingThe Prime Lending Rate is the rate of interest that commercial banks will charge their clients when issuing a loan (home loan or vehicle finance) Sep 2021 7.00%
INSIDER SUBSCRIPTIONS APP VIDEOS RADIO / LISTEN LIVE SHOP OFFERS WEBINARS NEWSLETTERS TRENDING PORTFOLIO TOOL CPD HUB

Follow us:

Search Articles:
Click a Company: