Gold Silver Reports ~ Gold climbed to its highest in almost nine months on Thursday as the dollar, U.S. Treasury yields and equity markets dipped on bets that the Federal Reserve could find it hard to raise U.S. interest rates this year.
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Gold Rocket on U.S. Rate Hike Report
Gold Silver Reports ~ Gold climbed more than 1 percent to its highest in 8 months on Thursday after Federal Reserve Chair Janet-Yellen stressed that U.S. interest rates would rise gradually.
The Fed is unlikely to reverse its plan to raise interest rates further this year, but tighter credit markets, volatile financial markets, and uncertainty over Chinese economic growth have raised risks to the U.S. economy, Yellen told U.S. lawmakers on Wednesday.
*A slowing of rate hikes could help bullion, keeping down the opportunity cost to hold it.
*Spot gold Zoom to $1,213 an ounce, its highest since May 22, before paring gains to trade up 0.9 percent at $1,208.27 by 0059 GMT.
After Yellen Reports, Gold Near 8 Month High
Gold Silver Reports ~ After Yellen Reports, Gold Near 8 Month High on Wednesday after U.S. Federal Reserve Chair Janet Yellen said that only “gradual” adjustments to monetary policy were likely and stressed that global headwinds could hurt U.S. growth.
Crude Oil Trade Positive, 1850-2000 Day Range
Gold Silver Reports ~ Crude oil may trade with positive bias as EIA inventory data to give further direction to the prices. Overall it can move in range of 1850- 2000.
Crude Oil Dumps; Major Indexes Seesaw
Gold Silver Reports ~ Today was repeat of yesterday’s session in that markets sold off most of the day but managed a better recovery during the last hour by closing only slightly below the unchanged line. Apparently the bulls are still alive and putting up a fight during these tug-of-war sessions.
Crude Oil Slip 8 Percent, Global Demand Reports
Gold Silver Reports ~ Crude Oil prices slid for a fourth straight session on Tuesday and teetered close to 12-1/2-year lows hit last month, after weak demand forecasts from the U.S. government and the western world’s energy watchdog, while weak equities also pressured prices.
Gold Near Eight Month High on Safe Haven Demand
Gold Silver Reports ~ Gold was holding near 8~month high on Wednesday as risk aversion sent investors to the safe-haven asset amid a tumble in global stock markets and concerns over the global economy.