Latest news with #goldprices
Bloomberg
13 hours ago
- Business
- Bloomberg
Ghana, Tanzania, Uganda FX Reserves Most at Risk if Gold Slumps, BMI Says
Ghana, Tanzania and Uganda face the highest risk in Africa of a plunge in their foreign-exchange holdings if gold prices fall suddenly, potentially putting renewed pressure on their currencies. The three countries already rely on bullion for a significant share of their export receipts, as much as 45% in Ghana's case, 42% in Tanzania's and 35% in Uganda's, according to Fitch Solutions ' BMI unit.
Bloomberg
16-07-2025
- Business
- Bloomberg
Thailand Seeks Ways to Curb Gold Price Impact on Currency
Thailand's central bank and the finance ministry are discussing ways to address currency moves that are not aligned with fundamental factors, including the impact of gold prices, according to a deputy governor. Gold prices are among the non-fundamental factors affecting the baht's movement and authorities are looking at ways to reduce the correlation between the two, Bank of Thailand Deputy Governor Roong Mallikamas said in an interview. She declined to say what steps were being planned or how soon they will be announced.
Bloomberg
10-07-2025
- Business
- Bloomberg
FTSE 100 Live: UK Stocks Hit Record High on Boost From Miners
Miners are rallying across the board, which always has an outsized influence on the FTSE 100. Rio Tinto, Glencore and Anglo American are all up by more than 3% apiece, and gold miners Endeavour and Fresnillo are gaining too. Iron ore, copper and gold prices are all up.
Zawya
09-07-2025
- Business
- Zawya
Gold at over one-week low as higher US dollar, yields dent appeal
Gold prices extended their fall to a more-than-one-week low on Wednesday, as investors favoured the dollar after U.S. President Donald Trump's latest tariff threats reignited fears of a global trade war. Spot gold was down 0.4% at $3,286.29 per ounce as of 1140 GMT, after falling to its lowest level since June 30 earlier in the session. U.S. gold futures fell 0.7% to $3,294.20. "The dollar has stabilised a little bit, and bond yields have risen as well, which kind of reduces the appeal of low-yielding assets like the Japanese yen, gold," said Fawad Razaqzada, market analyst at City Index and The U.S. dollar index was up 0.1% after hitting a two-week high in the previous session, while the yield on benchmark 10-year U.S. Treasury notes hovered near a three-week high, denting non-yielding bullion's appeal. Trump said he would impose a 50% tariff on imported copper and introduce long-threatened levies on semiconductors and pharmaceuticals. He reiterated his threat of 10% tariffs on BRICS nations on Tuesday, a day after notifying 14 countries, including Japan and South Korea, of tariff increases set to take effect on August 1. Trade talks with European Union and China were going well, the U.S. president has said, although he has kept open the threat of elevated duties. Razaqzada expected gold to continue moving sideways in the near term, pegging support at $3,250 on the downside, with resistance at around $3,300 on the upside. Investors awaited minutes from the U.S. Federal Reserve's latest meeting which are due later on Wednesday for guidance on future interest rate cuts. Trump has repeatedly criticised Fed Chair Jerome Powell for not cutting interest rates and has floated the idea of naming a successor soon. Spot silver fell 0.7% to $36.52 per ounce, platinum shed 0.6% to $1,350.49, and palladium retreated 2.4% to $1,084.23. (Reporting by Brijesh Patel in Bengaluru; Additional reporting by Ishaan Arora; Editing by Sharon Singleton, Barbara Lewis and Rachna Uppal)
Economy ME
09-07-2025
- Business
- Economy ME
Dubai 24-carat gold price today hits one-week low at AED396 amid U.S. dollar strength, rising yields
Gold prices lingered on Wednesday close to their lowest level in over one week, facing pressure from a strengthening U.S. dollar and increasing Treasury yields, as new tariff threats from U.S. President Donald Trump unsettled the markets. In Dubai, gold rates experienced a decline, with 24-carat gold decreasing by AED5 to AED396, while 22-carat gold fell AED4.75 to AED366.75. Additionally, 21-carat gold dropped AED4.75 to AED351.50, and 18-carat gold was down AED4 to AED301.25. Spot gold remained stable at $3,301.50 per ounce as of 02:34 GMT (currently trading above $3,295). U.S. gold futures dropped 0.2 percent to $3,310.10 (currently trading above $3,303). Trump stated he would impose a 50 percent tariff on imported copper and implement long-anticipated levies on semiconductors and pharmaceuticals. Trump reiterated his threat of 10 percent tariffs on BRICS nations on Tuesday, a day after notifying 14 countries, including Japan and South Korea, of tariff increases set to take effect on August 1. The U.S. dollar index stabilized after approaching a two-week high late on Tuesday, while the yield on benchmark 10-year U.S. Treasury notes hovered near a three-week peak. Read more: Dubai 24-carat gold price today drops to AED399 , global rates fluctuate as trade deals loom Investors eye Fed meeting minutes 'Gold prices are holding up impressively well this month against a backdrop of rising yields and a strengthening U.S. dollar … its ability to resist the pressure suggests underlying strength and a bullish bias,' Reuters reported, citing Ilya Spivak, head of global macro at Tastylive. Higher yields increase the opportunity cost of holding non-yielding bullion, while a weaker dollar makes gold more affordable for holders of other currencies. Investors will closely analyze the U.S. Federal Reserve's latest meeting minutes, scheduled for release later today, for insights into potential interest rate cuts amid the central bank's cautious approach. 'It's a light week for economic data, but how prices react to minutes from June's FOMC meeting may help establish where we are in the Fed vs. markets policy debate,' Spivak noted. Meanwhile, Americans' inflation outlook remained stable, with the New York Fed's latest survey showing one-year inflation estimates at 3 percent, down from 3.2 percent in May, while the three- and five-year expectations remained at 3 percent and 2.6 percent, respectively. Spot silver fell 0.5 percent to $36.58 per ounce, platinum was down 0.8 percent to $1,348.78, and palladium lost 0.4 percent to $1,106.29.
