Gold Silver Reports (GSR) —Spot gold fell 0.25 percent to $1,288.45 per ounce by 2:10 p.m. EST. U.S. gold futures settled $2.90 lower to $1,288.40.
Commodity Markets
US Crude Settling at $48.52, Zoomed by OPEC cuts and stock market Up
U.S. West Texas Intermediate crude oil futures ended Tuesday’s session 56 cents, or 1.2 percent, higher at $48.52 a barrel. Brent crude futures rose 27 cents, or about half a percent, to $57.33 a barrel, up from December’s slide below $50, which was its lowest level since July 2017.
Gold Kiss Multi-Month High as Weak Data Concerns Growth Fears
“Gold prices hit a 6-month high and the trend is up on a near-term basis which is inviting technical-based buying interest. Probably some new speculative fund money coming into the market combined to push gold prices higher despite the stronger dollar.”
Gold Prices Up Amid Weaker Dollar, Equities Sell-off
Spot gold rose 0.9 percent to $1,254.06 per ounce at 8:02 a.m. ET, after declining the most since Nov. 27 in the previous session.
Gold Steadies Near One Week High; All eyes on Fed
Gold Silver Reports (GSR) Spot gold was up 0.26 percent at $1,249.11 per ounce at 1:50 p.m., having earlier touched its highest level since Dec. 10 at $1,250.27, just short of a five-month peak of $1,250.55 hit last week.
Gold Prices Supported by expectations of Fewer Rate Hikes by the U.S. Federal Reserve — GSR
Gold Silver Reports (GSR ) – Spot gold inched up 0.1 percent to $1,244.40 per ounce, as of 0115 GMT. U.S. gold futures rose 0.2 percent to $1,249.9 per ounce. Spot palladium was up 0.2 percent at $1,246.30 per ounce. Prices climbed over 2 percent in the previous session.
Crude Oil Extends Gains After OPEC-led Group Seals Deal to Cut Supply
Crude Oil Prices surged on Friday after the Organisation of the Petroleum Exporting Countries (OPEC) and some non-OPEC producers including heavyweight Russia announced they would cut oil supply by 1.2 million bpd, with an 800,000 bpd reduction planned by OPEC-members and 400,000 bpd by countries not affiliated with the group.
Gold Prices Zoom to Near Five-Month High – Gold Silver Update
The dollar fell about 0.5% as U.S. Treasury yields tumbled and traders scaled back expectations on the number of hikes the Fed would implement amid weakening economic data and market volatility.
Spot Gold was up 0.1 Percent at $1,248.96 Per Ounce
Spot gold was up 0.1 percent at $1,248.96 per ounce, as of 0432 GMT, after hitting its highest since July 11 at $1,250.55 earlier in the session.
Crude Oil Prices Surge more than 4% as OPEC nears Deal to Cut Output
Brent crude, the international benchmark for oil prices, rose $2.78, or 2.6 percent, to $62.84 a barrel by 8:47 a.m. ET (1347 GMT). U.S. West Texas Intermediate crude futures were up $2.17, or 4.2 percent, at $53.66 per barrel.