{"id":19507,"date":"2023-06-07T13:47:23","date_gmt":"2023-06-07T17:47:23","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/gold-prices-score-back-to-back-gains\/"},"modified":"2023-06-07T13:47:25","modified_gmt":"2023-06-07T17:47:25","slug":"gold-prices-score-back-to-back-gains","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=19507","title":{"rendered":"Gold prices score back-to-back gains"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002142598\" role=\"document\">\n<p>Gold futures finished higher Tuesday for a second straight session as investors assessed the outlook for interest rates ahead of next week\u2019s meeting of Federal Reserve policy makers.<\/p>\n<h2>Price action<\/h2>\n<ul class=\"articleList\">\n<li>\n      Gold for August delivery<br \/>\n        GC00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210034565\/delayed\" class=\"negative\">-1.05%<\/bg-quote><\/p>\n<p>        GCQ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/229917075\/delayed\" class=\"negative\">-1.05%<\/bg-quote><br \/>\n       rose $7.20, or 0.4%, to settle at $1,981.50 an ounce on Comex, after trading between a low of $1,970.30 and high of $1,982.90, FactSet data show. <\/p>\n<\/li>\n<li>\n      July silver<br \/>\n        SIN23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210317649\/delayed\" class=\"negative\">-0.49%<\/bg-quote><br \/>\n       added 4 cents, or nearly 0.2%, to settle at $23.67 an ounce.<\/p>\n<\/li>\n<li>\n      July platinum<br \/>\n        PLN23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/234960229\/delayed\" class=\"negative\">-1.32%<\/bg-quote><br \/>\n       rose 0.2% to $1,038.70 an ounce, while September palladium<br \/>\n        PAU23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/236560919\/delayed\" class=\"negative\">-1.72%<\/bg-quote><br \/>\n       added 0.1% to $1,411.80 an ounce.<\/p>\n<\/li>\n<li>\n      July copper<br \/>\n        HGN23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210057830\/delayed\" class=\"negative\">-0.44%<\/bg-quote><br \/>\n       ended little changed at $3.77 a pound.<\/p>\n<\/li>\n<\/ul>\n<h2>Market drivers<\/h2>\n<p>Investors await to see \u201cwhat will happen with the recent stock market rally and if the disinflation process will allow the Fed to skip a rate hike next week,\u201d said Edward Moya, senior market analyst at OANDA, in a market update. <\/p>\n<div class=\"paywall\">\n<p>\u201cDemand for safe-havens have somewhat eased up and traders are waiting to see if the next market risk triggers a de-risking moment,\u201d he said.<\/p>\n<p>Gold gained ground on Monday, lifted by a weaker-than-expected U.S. services index reading from the Institute for Supply Management, which saw traders further ratchet down expectations for an interest rate hike when the Federal Reserve meets next week.<\/p>\n<p>Fed-funds futures traders have priced in a probability of less than 20% for a quarter percentage point rate hike in June, down from nearly 67% a week ago, but they still see a better than 60% chance that rates will rise by the end of the Fed\u2019s July meeting.<\/p>\n<p>More clear direction from the Fed following the June 13-14 meeting could set the tone for the precious metal, said Thu Lan Nguyen, analyst at Commerzbank, in a note.<\/p>\n<p>\u201cThe prospect of rising rates will presumably weigh on the gold price until the meeting, in other words. However, a more pronounced and lasting correction is then on the cards after the Fed\u2019s interest rate decision \u2014 assuming our experts are right \u2014 because the market\u2019s positioning would then turn out to have been too hawkish,\u201d Nguyen said.<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/gold-edges-higher-on-track-for-back-to-back-gains-2d5a2186?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold futures finished higher Tuesday for a second straight session as investors assessed the outlook for interest rates ahead of next week\u2019s meeting of Federal Reserve policy makers. Price action Gold for August delivery GC00, -1.05% GCQ23, -1.05% rose $7.20, or 0.4%, to settle at $1,981.50 an ounce on Comex, after trading between a low [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":19508,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-19507","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gold prices score back-to-back gains | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Gold futures finished higher Tuesday for a second straight session as investors assessed the outlook for interest rates ahead of next week\u2019s meeting of\" \/>\n<meta name=\"robots\" content=\"index, follow, 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