The Oceania Times

Top Menu

  • About us
  • Contact Us
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions

Main Menu

  • Australian Economy
  • Brokers
  • Commodities
  • Currencies
  • Financial Market
  • Gold and Precious Metals
  • Investment
  • Stock Shares
  • About us
  • Contact Us
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions

logo

The Oceania Times

  • Australian Economy
  • Brokers
  • Commodities
  • Currencies
  • Financial Market
  • Gold and Precious Metals
  • Investment
  • Stock Shares
  • Centerra Gold: Oversold Gold Miner With Strong Balance Sheet (TSX:CG:CA)

  • FBI warns Coloradans of cryptocurrency scams

  • Biden Cracks Down on Chinese Tech Investment

  • Why General Motors Shares Climbed in January

  • UW Complements State’s Investment With Controlled Environment Agriculture Center | News

Gold and Precious Metals
Home›Gold and Precious Metals›Gold trades higher after breaking string of 4 straight weekly declines

Gold trades higher after breaking string of 4 straight weekly declines

By Megan
May 23, 2022
59
0
Share:

Gold futures gained ground Monday, finding support after snapping a string of four straight weekly declines.

Gold for June delivery
GC00,
+0.97%

GCM22,
+0.97%

rose $20.50, or 1.1%, to $1,862.60 an ounce on Comex, after rising 1.7% last week as it bounced back from a three-month low. July silver
SIN22,
+2.13%

was up 2.4% at $22.185 an ounce.

Gold found support last week as Treasury yields, which move opposite to price, continued a retreat after the 10-year rate hit a 3 1/2-year high earlier this month. Rising yields can be a negative for gold because they raise the opportunity cost of holding nonyielding assets. A weaker dollar also helped gold, making commodities priced in the unit less expensive to users of other currencies.

Gold last week “benefitted from the combination of falling interest rates (nominal and real) and a pullback in the recently relentless dollar rally,” wrote analysts at Sevens Report Research in a Monday note. “Looking ahead, gold remains in a countertrend pullback in an otherwise upward-trending market, but we will continue to watch real rates and the dollar as key influences. If they make new highs, it will be very difficult for gold to hold above $1,800” an ounce.

In other metals trade, July copper
HGN22,
+1.43%

rose 1.5% to $4.341 a pound.

July platinum
PLN22,
+3.05%

jumped 3.2% to $971.30 an ounce, while June palladium
PAM22,
+3.24%

rose 3.7% to $2,010.50 an ounce.

Source link

Tagsarticle_normalC&E Exclusion FiltercommodityCommodity MarketsCommodity/Financial Market NewsContent TypesEnergyFactiva Filtersfinancial market newsGC00GCM22Gold Continuous ContractGold Jun 2022Gold MarketsHeadline-Only ContentMetals MarketsPrecious Metals MarketsSilver Jul 2022SIN22
Previous Article

Louisiana Legislature makes historic investment towards early ...

Next Article

HP Stock Is Down as Another Analyst ...

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

Megan

Related articles More from author

  • Australian Economy

    Australia Interest-Rate Expectations Shift as Economy Sheds Jobs

    January 19, 2023
    By Megan
  • Investment

    SEC Penalizes Investment Firm Over Revenue Sharing, 12b-1 Fee Disclosures

    June 2, 2022
    By Megan
  • Commodities

    Futures File: Ian storms commodity markets | Business

    October 1, 2022
    By Megan
  • Currencies

    Aston Martin boosts sales but losses widen after currency hit

    July 29, 2022
    By Megan
  • Stock Shares

    Silvergate shares post big losses for second straight day as Wall Street reacts to steep drop in deposits

    January 6, 2023
    By Megan
  • Financial Market

    Australian Consumer Sentiment Keeps Plumbing Historic Lows in October

    October 11, 2022
    By Megan

Leave a reply Cancel reply

You may interested

  • Investment

    Is MELX (MEL) a Good Investment Saturday?

  • Stock Shares

    3 Tech Stocks to Buy Right Now

  • Investment

    MSFT Stock: How Big Artificial Intelligence Investment Could Threaten GOOGL Stock

  • LATEST REVIEWS

  • TOP REVIEWS

Timeline

  • February 2, 2023

    Centerra Gold: Oversold Gold Miner With Strong Balance Sheet (TSX:CG:CA)

  • February 2, 2023

    FBI warns Coloradans of cryptocurrency scams

  • February 2, 2023

    Biden Cracks Down on Chinese Tech Investment

  • February 2, 2023

    Why General Motors Shares Climbed in January

  • February 2, 2023

    UW Complements State’s Investment With Controlled Environment Agriculture Center | News

Best Reviews

Latest News

Gold and Precious Metals

Centerra Gold: Oversold Gold Miner With Strong Balance Sheet (TSX:CG:CA)

Adil Abdrakhmanov/iStock via Getty Images Introduction If Covid has proven anything, it is the failure of the Keynesian approach to economic policy. Debt accumulation appears the only constant over the ...
  • FBI warns Coloradans of cryptocurrency scams

    By Megan
    February 2, 2023
  • Biden Cracks Down on Chinese Tech Investment

    By Megan
    February 2, 2023
  • Why General Motors Shares Climbed in January

    By Megan
    February 2, 2023
  • UW Complements State’s Investment With Controlled Environment Agriculture Center | News

    By Megan
    February 2, 2023
  • Recent

  • Popular

  • Comments

  • Centerra Gold: Oversold Gold Miner With Strong Balance Sheet (TSX:CG:CA)

    By Megan
    February 2, 2023
  • FBI warns Coloradans of cryptocurrency scams

    By Megan
    February 2, 2023
  • Biden Cracks Down on Chinese Tech Investment

    By Megan
    February 2, 2023
  • Why General Motors Shares Climbed in January

    By Megan
    February 2, 2023
  • Centerra Gold: Oversold Gold Miner With Strong Balance Sheet (TSX:CG:CA)

    By Megan
    February 2, 2023
  • Australia’s economy: boom or bust?

    By Megan
    September 9, 2019
  • Australian economy suffers virus symptoms

    By Megan
    February 10, 2020
  • Australian economy likely already slowing in Q2 before Delta downturn

    By Megan
    August 30, 2021

Trending News

  • Gold and Precious Metals

    Centerra Gold: Oversold Gold Miner With Strong Balance Sheet (TSX:CG:CA)

    Adil Abdrakhmanov/iStock via Getty Images Introduction If Covid has proven anything, it is the failure of the Keynesian approach to economic policy. Debt accumulation appears the only constant over the ...
  • Investment

    FBI warns Coloradans of cryptocurrency scams

    Coloradans have been scammed out of millions of dollars, the FBI said. DENVER — The FBI’s Denver office is warning the public of a rise in people falling victim to ...
  • Investment

    Biden Cracks Down on Chinese Tech Investment

    The United States and China have spent several years and tens of billions of dollars investing in each other’s technology sectors. Now, after months of escalating moves targeting semiconductors, social ...
  • Stock Shares

    Why General Motors Shares Climbed in January

    What happened Auto stocks were under pressure for much of 2022 on fears that a slowing economy and rising interest rates would eat into demand for autos. A combination of ...
  • Investment

    UW Complements State’s Investment With Controlled Environment Agriculture Center | News

    February 2, 2023 In this photo taken in February 2012, Nate Storey examines lettuce growing in his startup company’s patented vertical towers inside a UW greenhouse. Today, he is the ...
  • About us
  • Contact Us
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© Copyright The Oceania Times. All rights reserved.

SUBSCRIBE TO OUR NEWSLETTER

Get our latest downloads and information first. Complete the form below to subscribe to our weekly newsletter.