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Gold Prices See Weekly Losses as Fed Rate Risks Rise

By Ambar Warrick AiVIF.com-- Gold prices fell slightly on Friday, and were set to end the week lower as hawkish signals from the U.S. Federal Reserve on the path of U.S....
Gold Prices See Weekly Losses as Fed Rate Risks Rise © Reuters.

By Ambar Warrick

AiVIF.com-- Gold prices fell slightly on Friday, and were set to end the week lower as hawkish signals from the U.S. Federal Reserve on the path of U.S. interest rates drove up the dollar.

Spot gold fell 0.1% to $1,756.59 an ounce by 23:03 ET (03:03 GMT), while gold futures dipped by a similar amount to $1,769.70. Both instruments were set to lose about 2.6% this week, having fallen for all five sessions.

The dollar index was boosted by comments from Federal Reserve officials that the bank would stick to a sharp pace of rate hikes this year to bring down runaway inflation. St. Louis Fed President James Bullard on Thursday said he currently supports a third consecutive 75 basis point (bps) rate hike in September.

San Francisco Fed President Mary Daly also flagged a potential 50 to 75 bps hike during the Fed’s next meeting, with a target of keeping rates above 3% by the year-end.

Their comments came after the minutes of the Fed’s July meeting showed on Wednesday that most members of the central bank supported raising rates substantially to combat inflation. 

This put the dollar on course to gain for the week, pressuring most metal prices. Rising interest rates this year have seen the dollar largely overtake gold as a preferred safe haven, sapping the yellow metal of its gains made during the onset of the Russia-Ukraine crisis.

Platinum futures fell 0.1% on Friday, while silver shed 0.8%. 

Among industrial metals, copper futures fell slightly on Friday, and were set to lose over 1% this week after weak industrial production data from China. 

China is the world’s largest importer of the red metal, and is currently struggling to shore up factory activity after a series of COVID-19 lockdowns.

Trouble in the country’s massive real estate market also spells more headwinds for the economy, which is likely to weigh on the prices of copper and other industrial metals in the medium term.

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29-03-2024 20:36:47 (UTC+7)

EUR/USD

1.0796

+0.0009 (+0.08%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (8)

EUR/USD

1.0796

+0.0009 (+0.08%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (8)

GBP/USD

1.2639

+0.0017 (+0.13%)

Summary

Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (4)

Sell (4)

USD/JPY

151.22

-0.15 (-0.10%)

Summary

Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (5)

AUD/USD

0.6525

+0.0010 (+0.15%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (2)

USD/CAD

1.3546

+0.0008 (+0.06%)

Summary

Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (2)

Sell (1)

EUR/JPY

163.22

-0.03 (-0.02%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

EUR/CHF

0.9735

+0.0008 (+0.08%)

Summary

Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (3)

Sell (3)

Gold Futures

2,254.80

42.10 (1.90%)

Summary

Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (0)

Silver Futures

25.100

+0.002 (+0.01%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Copper Futures

4.0115

-0.0003 (-0.01%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (0)

Crude Oil WTI Futures

83.11

+1.76 (+2.16%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Brent Oil Futures

86.99

+0.04 (+0.05%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (3)

Natural Gas Futures

1.752

+0.034 (+1.98%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (0)

Sell (6)

US Coffee C Futures

188.53

-2.12 (-1.11%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Euro Stoxx 50

5,082.85

+1.11 (+0.02%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

S&P 500

5,254.35

+5.86 (+0.11%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (3)

Sell (8)

DAX

18,504.51

+27.42 (+0.15%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

FTSE 100

7,952.62

+20.64 (+0.26%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Hang Seng

16,541.42

0.00 (0.00%)

Summary

Neutral

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (1)

US Small Cap 2000

2,120.15

+5.80 (+0.27%)

Summary

Neutral

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (5)

Sell (4)

IBEX 35

11,074.60

-36.70 (-0.33%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (5)

BASF SE NA O.N.

52.930

-0.320 (-0.60%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (6)

Sell (1)

Bayer AG NA

28.43

+0.01 (+0.04%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (1)

Allianz SE VNA O.N.

277.80

+0.35 (+0.13%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Adidas AG

207.00

+2.30 (+1.12%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (0)

Deutsche Lufthansa AG

7.281

+0.104 (+1.45%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (6)

Siemens AG Class N

176.96

+0.04 (+0.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Deutsche Bank AG

14.582

-0.030 (-0.21%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

 EUR/USD1.0796↑ Sell
 GBP/USD1.2639Buy
 USD/JPY151.22Sell
 AUD/USD0.6525↑ Buy
 USD/CAD1.3546Buy
 EUR/JPY163.22↑ Sell
 EUR/CHF0.9735Buy
 Gold2,254.80Buy
 Silver25.100↑ Buy
 Copper4.0115↑ Buy
 Crude Oil WTI83.11↑ Buy
 Brent Oil86.99Neutral
 Natural Gas1.752↑ Sell
 US Coffee C188.53↑ Sell
 Euro Stoxx 505,082.85↑ Sell
 S&P 5005,254.35↑ Sell
 DAX18,504.51↑ Buy
 FTSE 1007,952.62↑ Sell
 Hang Seng16,541.42Neutral
 Small Cap 20002,120.15Neutral
 IBEX 3511,074.60↑ Sell
 BASF52.930↑ Buy
 Bayer28.43Buy
 Allianz277.80↑ Buy
 Adidas207.00↑ Buy
 Lufthansa7.281↑ Sell
 Siemens AG176.96↑ Buy
 Deutsche Bank AG14.582↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank7,910/ 8,080
(30/ 30) # 1,364
SJC HCM7,900/ 8,100
(0/ 0) # 1,384
SJC Hanoi7,900/ 8,102
(0/ 0) # 1,386
SJC Danang7,900/ 8,102
(0/ 0) # 1,386
SJC Nhatrang7,900/ 8,102
(0/ 0) # 1,386
SJC Cantho7,900/ 8,102
(0/ 0) # 1,386
Cập nhật 29-03-2024 20:31:43
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$2,232.75-1.61-0.07%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V24.69025.180
RON 95-III24.28024.760
E5 RON 92-II23.21023.670
DO 0.05S21.01021.430
DO 0,001S-V21.64022.070
Dầu hỏa 2-K21.26021.680
ↂ Giá dầu thô thế giới
WTI$82.82+5.390.07%
Brent$86.82+5.180.06%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD24.600,0024.970,00
EUR26.020,0327.447,78
GBP30.490,4131.787,64
JPY158,93168,22
KRW15,9119,28
Cập nhật lúc 18:53:13 29/03/2024
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