Gold hits four-week high as Feds Powell eases stimulus concerns
THURSDAY, JULY 15, 2021
Gold climbed to a four-week high as inflation concerns boosted demand for the metal as a store of value while Federal Reserve Chair Jerome Powell reassured investors on the outlook for stimulus. Copper and most other base metals fell.
Stocks traded in a tight range Wednesday as investors assessed prospects for an economic recovery and continued Federal Reserve support amid the threat of inflation. Treasurys fell.
The price of gold in Thailand rose by THB50 per baht weight in morning trade on Wednesday.
The price has risen for three consecutive days after falling sharply by THB1,250 per baht weight last week.
Stocks notched their biggest rally in five weeks as speculation the Federal Reserve will tighten policy at a gradual pace outweighed concern about the central banks hawkish pivot.
The price of gold in Thailand rose by THB100 per baht weight in morning trade on Monday despite the strong dollar, due to the US Federal Reserve signalling interest rate hike earlier than expected.
The price of gold in Thailand slumped by THB350 per baht weight in morning trade on Friday due to the strengthening dollar after the US Federal Reserve announced it had begun discussions on asset tapering and expected two interest rate hikes by the end of 2023.
Gold dives as Fed signal on rates leads to mass sell-offs
THURSDAY, JUNE 17, 2021
The price of gold slumped by THB350 per baht weight in morning trade on Thursday due to mass sell-offs of the precious metal after the US Federal Reserve began discussions on asset tapering and announced that two interest rate hikes are expected by the end of 2023.
Markets wrap: Yields jump, stocks fall after Fed boosts outlook
THURSDAY, JUNE 17, 2021
Bond yields jumped and stocks fell for a second day after Federal Reserve officials signaled theyll begin dialing back the stimulus that has fueled the recovery from the pandemic.
The price of gold dropped by THB100 per baht weight in morning trade on Wednesday due to a rising US bond yield. Meanwhile, investors delayed immediate stock and gold purchases as they awaited results of a US Federal Reserve meeting on Tuesday and Wednesday.