Gold rises off one-month low on softer dollar; hawkish Fed caps gains
CNBC
Gold climbed on Thursday, supported by a softer dollar, but gains were capped by a hawkish Federal Reserve, which has limited hopes for near-term rate cuts.
Gold prices rose on Thursday after briefly touching a more than one-month low, as a softer dollar offered support, but gains were capped by a hawkish Federal Reserve, which has limited hopes for near-term rate cuts.
Spot gold added 0.8% to $4,856.82 per ounce as of 0115 GMT, after falling to its lowest since February 6 earlier in the day. Prices fell 3.7% on Wednesday.
U.S. gold futures for April delivery shed 0.8% to $4,858.60.
European stocks are set to rebound as traders continue to watch developments in the Middle East.
European stocks are expected to start the new trading week heavily lower as traders track developments in the Middle East and a surge in oil prices.
Brent futures spiked 16.1% to last trade at $107.61, while U.S. West Texas Intermediate crude futures rose almost 17.7% to $107.02
Gold prices rose on Friday as investors sought safe-haven bullion on heightened uncertainty over a widening Middle East conflict.
Overnight, oil prices broke through the $80 per barrel mark, with Brent futures up 3.54% and last trading at $84.31.
European stocks are expected to open in mixed territory again on Thursday as markets following unsettling geopolitical developments in the Middle East.
European stocks are expected to open in mixed territory on Wednesday as markets continue to track developments in the Middle East.
European stocks are expected to open firmly in negative territory Tuesday as the geopolitical crisis in the Middle East continues to weigh on market sentiment.
Gold prices rose for a fifth consecutive session on Tuesday, as investors sought safe-haven assets amid an escalating U.S. and Israeli air war against Iran.
The yen and euro were lower on Tuesday as the widening Middle East conflict focused attention on countries dependent on energy imports.
Oil prices continue to rise Iran's Revolutionary Guard says it has closed the Strait of Hormuz,
European stocks are expected to start the new trading week firmly in negative territory.
Oil prices jumped to their highest levels in months on Monday as Iran and Israel escalated attacks in the Middle East, disrupting shipments from the region.