Gold fell alongside equity markets on Monday partly in response to gains in the dollar which is benefiting from a run of strong U.S. economic data reinforcing expectations of further interest rate rises.
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Talks continue on U.S. steel and aluminum tariffs, Trudeau says
Talks continue on U.S. steel and aluminum tariffs, Trudeau says
Commodity Corner: Oil Prices Ease, Gold Rates Little Changed – Gold Silver Reports
Crude Oil:
Crude Oil prices fell from four-year highs reached the previous session, pressured by rising US inventories and after sources said Russia and Saudi Arabia struck a private deal in September to raise crude output. Brent crude oil futures were trading at $85.85 per barrel, down 44 cents, or 0.5%, from their last close. Brent on Wednesday hit a four-year high of $86.74 a barrel. US WTI crude futures were down 30 cents, or 0.4%, at $76.11 a barrel.
Saudi Arabia, Russia Agreed in September to Lift Oil Output, Told US – GSR
US President Donald Trump has blamed the Organization of the Petroleum Exporting Countries (OPEC) for high crude prices and called on it to boost output to bring down fuel costs before the US Congressional elections on 6 November.
Gold Prices Hit over 1 Week High on Soft Dollar – Gold Silver Reports
Global gold prices hit highest in more than a week on Wednesday as the dollar softened and demand for the safe-haven metal got a boost on concerns surrounding Italy’s plans to tackle budgetary deficit. Risk appetite was hit after European Union (EU) officials expressed concerns about Italy’s budget plan, which would widen the deficit significantly.
Metals Prices Finding Support – GSR (Gold Silver Reports)
Three-month base metals prices on the London Metal Exchange were for the most part firmer during morning trading on Wednesday October 3.
The exceptions were tin where prices were down by 0.5% and nickel where prices were little changed. The rest were up between 0.2% for copper at $6,267 per tonne and 0.6% for zinc at $2,674 per tonne.
Gold Trapped in Tight Range – Gold Silver Reports
Spot gold edged 0.3 percent higher to $1,191.41 per ounce, having fallen to a more than six-week low of $1,180.34 on Sept. 28. U.S. gold futures rose 0.2 percent to $1,194.10.