empty
 
 

2021.05.2710:01:00UTC+00Gold Prices Mixed As Dollar Firms

Gold prices traded mixed on Thursday, as the dollar rose against major currencies for the first time this week and U.S. yields held steady ahead of key U.S. labor market and inflation readings.

Spot gold was marginally higher at $1,897.13 per ounce, after hitting its highest since Jan.8 at $1,912.50 on Wednesday. U.S. gold futures were down 0.2 percent at $1,897.30 per ounce.

The dollar found support amid signs the Federal Reserve is slowly but surely edging towards a discussion about tightening monetary policy.

Federal Reserve Vice Chairman for Supervision Randal Quarles said Wednesday that he was prepared to open talks on reducing the emergency support measures if the economy continues to power out of the health crisis.

Fed officials have recently downplayed rising price pressures, but a subtle shift in tone suggested that the time to talk about policy changes might be approaching.

Elsewhere, Bank of Korea Governor Lee Ju-yeol said the bank is preparing for an "orderly exit" from its record-low interest rate at some point in the face of accelerating inflation and a build-up of dangerous imbalances.

On Wednesday, the Reserve Bank of New Zealand (RBNZ) surprised many by projecting that it might hike interest rates as early as September next year.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback