{"id":46665,"date":"2023-08-10T05:18:05","date_gmt":"2023-08-10T09:18:05","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/gold-prices-slip-for-2nd-day-as-disappointing-china-trade-data-moodys-downgrades-boost-u-s-dollar\/"},"modified":"2023-08-10T05:18:06","modified_gmt":"2023-08-10T09:18:06","slug":"gold-prices-slip-for-2nd-day-as-disappointing-china-trade-data-moodys-downgrades-boost-u-s-dollar","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=46665","title":{"rendered":"Gold prices slip for 2nd day as disappointing China trade data, Moody\u2019s downgrades boost U.S. dollar"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002374231\" role=\"document\">\n<p>Gold futures settled lower for a second straight session on Tuesday as disappointing trade data from China, a credit rating warning for U.S. banks, and some weak corporate earnings resulted in some flight to the safety of the U.S. dollar and Treasuries. <\/p>\n<h2>Price action<\/h2>\n<ul class=\"articleList\">\n<li>\n      Gold for December delivery<br \/>\n        GC00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210034565\/delayed\" class=\"positive\">+0.09%<\/bg-quote><\/p>\n<p>        GCZ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210039381\/delayed\" class=\"positive\">+0.09%<\/bg-quote><br \/>\n       fell by $10.10, or 0.5%, to settle at $1,959.90 per ounce on Comex. <\/p>\n<\/li>\n<li>\n      Silver futures for September delivery<br \/>\n        SI00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210315219\/delayed\" class=\"positive\">+0.48%<\/bg-quote><\/p>\n<p>        SIU23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/230611017\/delayed\" class=\"positive\">+0.48%<\/bg-quote><br \/>\n       fell by 42 cents, or 1.8%, to end at $22.81 per ounce. <\/p>\n<\/li>\n<li>\n      Palladium futures for September<br \/>\n        PA00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210237962\/delayed\" class=\"positive\">+1.62%<\/bg-quote><\/p>\n<p>        PAU23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/236560919\/delayed\" class=\"positive\">+1.62%<\/bg-quote><br \/>\n       declined by $18.10, or 1.5%, to finish at $1,218.10 per ounce, while platinum futures for October<br \/>\n        PL00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210261555\/delayed\" class=\"positive\">+0.93%<\/bg-quote><\/p>\n<p>        PLV23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/237284959\/delayed\" class=\"positive\">+0.93%<\/bg-quote><br \/>\n       fell by $22.70, or 2.5%, ending at $904.20 per ounce. <\/p>\n<\/li>\n<li>\n      Copper futures for September<br \/>\n        HG00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210054311\/delayed\" class=\"positive\">+0.53%<\/bg-quote><\/p>\n<p>        HGU23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210058691\/delayed\" class=\"positive\">+0.53%<\/bg-quote><br \/>\n       declined by 7 cents, or 1.8%, to settle at $3.77 per pound. <\/p>\n<\/li>\n<\/ul>\n<h2>Market drivers<\/h2>\n<p>Risk appetite receded on Tuesday following the news that China\u2019s exports and imports contracted more than expected in July, government data showed. The country\u2019s exports plunged 14.5% for the year to July, the biggest decline since the outbreak of the COVID-19 pandemic in February 2020, while imports slid 12.4%, worse than forecast.<\/p>\n<div class=\"paywall\">\n<p>Meanwhile, Moody\u2019s decisions to put a handful of major U.S. banks on review for a possible downgrade and lower debt ratings on several small and midsize banks, as well as United Parcel Service Inc.<br \/>\n        UPS,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/201245396\/composite\" class=\"negative\">-0.65%<\/bg-quote><br \/>\n      \u2018s\u00a0cut to its full-year outlook also added to the risk-off mood. <\/p>\n<p><strong>See:\u00a0<\/strong>10 regional banks expected to buck a weak industry trend<\/p>\n<p>Amid the risk-off sentiment, investors appeared to favor the U.S. dollar and bonds over gold as yields declined, while the yellow metal traded modestly lower. <\/p>\n<p>The ICE U.S. Dollar Index<br \/>\n        DXY<span>,<\/span><br \/>\n       a gauge of the greenback\u2019s strength against major currencies, rose 0.5% to 102.53. The yield on the 10-year Treasury note<br \/>\n        BX:TMUBMUSD10Y<br \/>\n       was off by 5 basis points at 4.035%, according to FactSet data.<\/p>\n<p>\u201cDespite broad dollar strength,\u00a0gold\u00a0is holding nicely considering all the selling that is hitting the other commodities.\u00a0 If the global economic outlook deteriorates further,\u00a0gold\u00a0should catch a bid here,\u201d said Edward Moya, senior market analyst at OANDA, in emailed commentary. <\/p>\n<p>U.S. stocks remained under pressure on Tuesday despite a brief respite from last week\u2019s selloff in the previous session. The S&amp;P 500<br \/>\n        SPX<br \/>\n       and the Dow Jones Industrial Average<br \/>\n        DJIA<br \/>\n       each shed 0.7%, while the Nasdaq Composite<br \/>\n        COMP<br \/>\n       dropped 1%. <\/p>\n<p>The CBOE Market Volatility index, Wall Street\u2019s fear gauge, surged to a two-month high at 16.94, according to FactSet data. <\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/gold-prices-slip-for-2nd-day-as-disappointing-economic-news-boosts-u-s-dollar-8425e32a?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold futures settled lower for a second straight session on Tuesday as disappointing trade data from China, a credit rating warning for U.S. banks, and some weak corporate earnings resulted in some flight to the safety of the U.S. dollar and Treasuries. Price action Gold for December delivery GC00, +0.09% GCZ23, +0.09% fell by $10.10, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-46665","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 slip for 2nd day as disappointing China trade data, Moody\u2019s downgrades boost U.S. dollar | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Gold futures settled lower for a second straight session on Tuesday as disappointing trade data from China, a credit rating warning for U.S. banks, and\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=46665\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold prices slip for 2nd day as disappointing China trade data, Moody\u2019s downgrades boost U.S. dollar | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Gold futures settled lower for a second straight session on Tuesday as disappointing trade data from China, a credit rating warning for U.S. banks, and\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=46665\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-10T09:18:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-10T09:18:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/1682729303_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=46665#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=46665\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Gold prices slip for 2nd day as disappointing China trade data, Moody\u2019s downgrades boost U.S. dollar\",\"datePublished\":\"2023-08-10T09:18:05+00:00\",\"dateModified\":\"2023-08-10T09:18:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=46665\"},\"wordCount\":425,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=46665#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=46665\",\"url\":\"https:\/\/ifintechworld.com\/?p=46665\",\"name\":\"Gold prices slip for 2nd day as disappointing China trade data, Moody\u2019s downgrades boost U.S. dollar | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-08-10T09:18:05+00:00\",\"dateModified\":\"2023-08-10T09:18:06+00:00\",\"description\":\"Gold futures settled lower for a second straight session on Tuesday as disappointing trade data from China, a credit rating warning for U.S. banks, and\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=46665#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=46665\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=46665#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Gold prices slip for 2nd day as disappointing China trade data, Moody\u2019s downgrades boost U.S. dollar\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Gold prices slip for 2nd day as disappointing China trade data, Moody\u2019s downgrades boost U.S. dollar | iFintechWorld","description":"Gold futures settled lower for a second straight session on Tuesday as disappointing trade data from China, a credit rating warning for U.S. banks, and","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=46665","og_locale":"en_US","og_type":"article","og_title":"Gold prices slip for 2nd day as disappointing China trade data, Moody\u2019s downgrades boost U.S. dollar | iFintechWorld","og_description":"Gold futures settled lower for a second straight session on Tuesday as disappointing trade data from China, a credit rating warning for U.S. banks, and","og_url":"https:\/\/ifintechworld.com\/?p=46665","og_site_name":"iFintechWorld","article_published_time":"2023-08-10T09:18:05+00:00","article_modified_time":"2023-08-10T09:18:06+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/1682729303_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=46665#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=46665"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Gold prices slip for 2nd day as disappointing China trade data, Moody\u2019s downgrades boost U.S. dollar","datePublished":"2023-08-10T09:18:05+00:00","dateModified":"2023-08-10T09:18:06+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=46665"},"wordCount":425,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=46665#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=46665","url":"https:\/\/ifintechworld.com\/?p=46665","name":"Gold prices slip for 2nd day as disappointing China trade data, Moody\u2019s downgrades boost U.S. dollar | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-08-10T09:18:05+00:00","dateModified":"2023-08-10T09:18:06+00:00","description":"Gold futures settled lower for a second straight session on Tuesday as disappointing trade data from China, a credit rating warning for U.S. banks, and","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=46665#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=46665"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=46665#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Gold prices slip for 2nd day as disappointing China trade data, Moody\u2019s downgrades boost U.S. dollar"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/46665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=46665"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/46665\/revisions"}],"predecessor-version":[{"id":46666,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/46665\/revisions\/46666"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/1606"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=46665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=46665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=46665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}