Gold hits highest weekly price in 2022 as dollar, yields fall

Gold hits highest weekly price in 2022 as dollar, yields fall

2022-01-14 08:25:00 AM

Gold hits highest weekly price in 2022 as dollar, yields fall

Spot gold is flat as traders await more data on Federal Reserve’s tapering policy

Asha SistlaPicture: GETTY IMAGES/DONAT SOROKINVIABengaluru — Gold was flat on Friday but the metal was set for its best weekly gain since November, buoyed by a weaker US dollar and Treasury yields, as traders awaited more economic data for clarity about the Federal Reserve’s tapering policy.

Spot gold was flat at $1,824.25/oz by 2.48am GMT, after snapping a four-session rally on Thursday. US gold futures edged up 0.2% to $1,824.30/oz.The metal has climbed about 1.6% this week, recouping most of the losses of the first week of 2022.“Gold had been buoyant this week on expectations the Fed will not have to hike interest rates too aggressively,” Phillip Futures analyst Avtar Sandu said in a note.

Read more: Business Day »

ITWeb Brainstorm CISO Banquet 2022 | ITWeb

Read more >>

Big changes planned for Joburg in 2022 – including greater security and improved infrastructureJohannesburg mayor Dr Mpho Phalatse has promised a ‘golden start’ to her tenure in 2022, including improved service delivery and infrastructure upgrades.

Nedbank’s forecasts for the rand in 2022The rand has stabilised somewhat in early 2022 after two months of relatively sharp depreciation, but is set to face more turbulence in 2022, says Nedbank.

REVIEW | 2022 Kia Sonet 1.5 LX offers great value for moneyThere is no mystery why B-segment crossovers and sport-utility vehicles are supplanting their hatchback counterparts in popularity

Joburg North City Marathon 2022For all those who are new to this working from home Bitcoin trading options Here's a little tip: Get a trusted Bitcoin expert and stick to him Arnoldnike93 Invest and play at similar times each day. Because : In times of chaos, your investment is your anchor to success⚖️ It would have been appreciated and respectful if residents affected by the joburgnorthcitymarathon were forewarned. We have had ChillieRunners camped outside our home since before 7am with loud music, noise etc. We didn't know what was happening and have to find out ourselves!

Cheetahs keen to make big statement in 2022 Currie CupWith no set plans in place yet for them to join a big competition, the Currie Cup is their biggest stage.

The richest people in South Africa at the start of 2022Data from Forbes’ real-time ranking of billionaires shows that some of South Africa’s richest people continued to grow their wealth in 2021, led by Johann Rupert, whose luxury goods group Richemont surged on the Johannesburg Stock Exchange, particularly in the second half of the year.

14 January 2022 - 07:22 Asha Sistla Picture: GETTY IMAGES/DONAT SOROKINVIA Bengaluru — Gold was flat on Friday but the metal was set for its best weekly gain since November, buoyed by a weaker US dollar and Treasury yields, as traders awaited more economic data for clarity about the Federal Reserve’s tapering policy. Spot gold was flat at $1,824.25/oz by 2.48am GMT, after snapping a four-session rally on Thursday. US gold futures edged up 0.2% to $1,824.30/oz. The metal has climbed about 1.6% this week, recouping most of the losses of the first week of 2022. “Gold had been buoyant this week on expectations the Fed will not have to hike interest rates too aggressively,” Phillip Futures analyst Avtar Sandu said in a note. “However, the yellow metal’s failure to break above $1,830 and hawkish comments from two Fed bankers caused the contract to retreat to close lower on Thursday.” The dollar was headed for its largest weekly fall in eight months on Friday, making the greenback-priced gold cheaper for buyers holding foreign currencies. US 10-year Treasury yields eased off two-year highs hit earlier this week. Fed governor Lael Brainard on Thursday became the latest and most senior US central banker to signal that the Fed is likely to start raising interest rates in March. Gold is considered an inflationary hedge, but the metal is highly sensitive to rising US interest rates, which increase the opportunity cost of holding non-yielding bullion. Investors await US economic data including retail sales and industrial production due later in the day, after December inflation print came in line with expectations. Sandu said gold was moving back and forth in consolidation and a break above the $1,830/oz resistance would take prices to the next resistance at $1,860/oz. Spot silver was flat at $23.08/oz, platinum was up 0.2% at $971.61/oz, and palladium fell 0.9% to $1,869.91/oz. Reuters