Gold price steadies as Europe’s energy woes see dollar strengthen. markets gold europe
There are growing expectations for the European Central Bank to hike by 75 basis points as soon as Thursday, but the decision remains a challenging one as chief Christine Lagarde and her colleagues manage the twin problems of high price pressures and an impending recession.
“The general outlook for gold remains weak with market players positioning for the ECB meeting this week,” said Ravindra Rao, head of commodity research at Kotak Securities Ltd. While a firm dollar and weak investor interest weigh on gold, Europe’s power crisis, China’s virus outbreak and renewed US-China tensions could lend some support to the precious metal, he said.
Spot gold edged lower to $1,710.60 an ounce as of 4:30 p.m. in London, after rising 0.9% on Friday. The Bloomberg Dollar Spot Index advanced 0.2%. Platinum gained, while silver and palladium were little changed.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
An economic perfect storm is battering emerging markets. Debt crises loomThe strength of the U.S. dollar — at a 20-year high — is spelling trouble for indebted smaller nations that now must pay more on their loans. In Sri Lanka, a default made it nearly impossible for the country to buy food and fuel on international markets.
Les mer »
Gold Price Forecast: XAU/USD pressured as US dollar catches eyes on test of 110 DXYThe gold price is attempting to correct higher but has come up against a strong US dollar for the start of the week that follows Friday's mixed US lab
Les mer »
Southland Gas Prices On the Way Up AgainGas prices across Southern California seem to be rising again after weeks of steady decrease.
Les mer »
Ether Eyes Price Rally After 'Wedge' Breakout, But Europe's Energy Crisis Zaps Risk AppetiteRussia's Gazprom announced an indefinite suspension of gas supply to Europe, bolstering inflation fears. The renewed risk aversion capped upside in ether.
Les mer »
Forex Today: US Dollar Index Reaches New High on Euro EnergyForex Today: US Dollar Index Reaches New High on Euro Energy USD Forextrading news Finance Markets
Les mer »
Energy war as West caps Russian oil price, Moscow keeps gas pipe shut By Reuters*ENERGY WAR WORSENS AS WEST CAPS RUSSIAN OIL PRICE, MOSCOW KEEPS GAS PIPE SHUT - 🇺🇸 🇪🇺 🇷🇺
Les mer »