Gold price weaker amid firmer greenback gold silver
- Gold and silver prices are lower in early U.S. trading Tuesday and feeling the pressure of a firmer U.S. dollar index on this day. Recently rising U.S. Treasury yields and a still-hawkish U.S. Federal Reserve are also negatives for the two precious metals markets. August gold was last down $8.40 at $1,962.80 and July silver was down $0.251 at $23.875.
In overnight news, China again slightly eased its monetary policy by lowering two key lending rates by 10 basis points. The rate reductions were deemed by China watchers as less than expected. Fed Chair Jerome Powell will provide his semi-annual monetary policy report to Congress on Wednesday and Thursday. Powell is widely expected to repeat comments from his post-Fed meeting press conference, which had a hint of caution but still opened the door to higher rates down the road. The marketplace will be closely watching the testimony for any fresh clues on the timing of the rate increases. Should Powell strike a hawkish note, this could boost the U.S. dollar and U.S. Treasury yields.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Monday’s analyst upgrades and downgradesInside the Market’s roundup of some of today’s key analyst actions
Read more »
Gold price is stuck in neutral, but that is its strength nowKitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals prices
Read more »
Gold market analysis for June 20 - key intra-day price entry levels for active traders
Read more »
Alphonso Davies, Jonathan David among big names missing from Canada’s Gold Cup rosterCanada coach John Herdman had said there would be changes in the Gold Cup roster, with some players needing a break or time to recover from injuries
Read more »
The 3 best historical comparisons for goldKitco News' contributed commentary features articles and opinions from some of the top experts in the gold industry.
Read more »
South Korea is selling gold bars in vending machines and sales are surging
Read more »