{"id":51192,"date":"2023-08-21T13:27:04","date_gmt":"2023-08-21T17:27:04","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/gold-prices-on-track-for-back-to-back-gains-following-four-week-losing-streak\/"},"modified":"2023-08-21T13:27:06","modified_gmt":"2023-08-21T17:27:06","slug":"gold-prices-on-track-for-back-to-back-gains-following-four-week-losing-streak","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=51192","title":{"rendered":"Gold prices on track for back-to-back gains following four-week losing streak"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002421420\" role=\"document\">\n<p>Gold prices traded modestly higher on Monday, with the yellow metal aiming for back-to-back gains after a lengthy losing streak. <\/p>\n<h2>Price action<\/h2>\n<ul class=\"articleList\">\n<li>\n      Gold futures for December delivery<br \/>\n        GC00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210034565\/delayed\" class=\"positive\">+0.29%<\/bg-quote><\/p>\n<p>        GCZ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210039381\/delayed\" class=\"positive\">+0.29%<\/bg-quote><br \/>\n       gained $1.80, or 0.1%, to $1,918.30 per ounce on Comex. <\/p>\n<\/li>\n<li>\n      Silver futures for September<br \/>\n        SI00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210315219\/delayed\" class=\"positive\">+2.65%<\/bg-quote><\/p>\n<p>        SIU23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/230611017\/delayed\" class=\"positive\">+2.65%<\/bg-quote><br \/>\n       gained 33.2 cents, or 1.5%, to $23.065 per ounce. <\/p>\n<\/li>\n<li>\n      October platinum<br \/>\n        PL00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210261555\/delayed\" class=\"negative\">-0.10%<\/bg-quote><\/p>\n<p>        PLV23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/237284959\/delayed\" class=\"negative\">-0.10%<\/bg-quote><br \/>\n       fell by $2.50, or 0.3%, to $912.50 per ounce, while palladium for September<br \/>\n        PA00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210237962\/delayed\" class=\"negative\">-1.71%<\/bg-quote><\/p>\n<p>        PAU23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/236560919\/delayed\" class=\"negative\">-1.71%<\/bg-quote><br \/>\n       delivery lost $18, or 1.4%, to $1,242 per ounce. <\/p>\n<\/li>\n<li>\n      September copper<br \/>\n        HGU23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210058691\/delayed\" class=\"positive\">+0.35%<\/bg-quote><br \/>\n       gained nearly 1 cent, or 0.2%, to $3.7135 per pound.<\/p>\n<\/li>\n<\/ul>\n<h2>Market drivers<\/h2>\n<p>Gold has been \u201csuffering the pressures caused by a strong U.S. dollar, as inflation remains sticky and the economy demonstrates a resilience that few had predicted,\u201d Ricardo Evangelista, senior analyst at ActivTrades, wrote in a commentary emailed Monday.  <\/p>\n<div class=\"paywall\">\n<p>Against this background, U.S. interest rates could remain elevated for a prolonged period, he said, and this scenario \u201cwould create scope for the continuation of the dominance of the U.S. dollar in global markets, with gold prices likely to suffer further losses.\u201d <\/p>\n<p>This is one of the reasons traders will be paying close attention to what happens at the Jackson Hole symposium later this week, bringing together economic policymakers worldwide,\u201d said Evangelista. The event may \u201chelp clarify the likely path for the leading central banks\u2019 monetary policy, providing more direction to the foreign exchange market and helping to define gold\u2019s price action in the short-to-medium term.\u201d<\/p>\n<p>For now, investors absorbed a flurry of news to start the week, including a smaller-than-expected interest-rate cut by China\u2019s central bank.<\/p>\n<p>The People\u2019s Bank of China lowered its one-year loan prime rate by 10 basis points to 3.45%, while the five-year LPR was held at 4.2%. The U.S. dollar steadied following the announcement, while Treasury yields continued to march higher. <\/p>\n<p>However, gold strengthened in spite of the rise in yields, a sign that the yellow metal is recouping some of its losses following a punishing four-week losing streak.<\/p>\n<p>The ICE U.S. Dollar Index<br \/>\n        DXY<span>,<\/span><br \/>\n       a gauge of the buck\u2019s strength against a basket of rivals, was up by nearly 0.1% at 103.43, while the yield on the 10-year Treasury note<br \/>\n        BX:TMUBMUSD10Y<br \/>\n       increased by 7.8 basis points to 4.326%. <\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/gold-rises-on-track-for-back-to-back-gains-following-four-week-losing-streak-c8fd1b5?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices traded modestly higher on Monday, with the yellow metal aiming for back-to-back gains after a lengthy losing streak. Price action Gold futures for December delivery GC00, +0.29% GCZ23, +0.29% gained $1.80, or 0.1%, to $1,918.30 per ounce on Comex. Silver futures for September SI00, +2.65% SIU23, +2.65% gained 33.2 cents, or 1.5%, to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-51192","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gold prices on track for back-to-back gains following four-week losing streak | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Gold prices traded modestly higher on Monday, with the yellow metal aiming for back-to-back gains after a lengthy losing streak. Price action Gold futures\" \/>\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=51192\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold prices on track for back-to-back gains following four-week losing streak | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Gold prices traded modestly higher on Monday, with the yellow metal aiming for back-to-back gains after a lengthy losing streak. Price action Gold futures\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=51192\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-21T17:27:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-08-21T17:27:06+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=51192#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=51192\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Gold prices on track for back-to-back gains following four-week losing streak\",\"datePublished\":\"2023-08-21T17:27:04+00:00\",\"dateModified\":\"2023-08-21T17:27:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=51192\"},\"wordCount\":378,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=51192#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=51192\",\"url\":\"https:\/\/ifintechworld.com\/?p=51192\",\"name\":\"Gold prices on track for back-to-back gains following four-week losing streak | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-08-21T17:27:04+00:00\",\"dateModified\":\"2023-08-21T17:27:06+00:00\",\"description\":\"Gold prices traded modestly higher on Monday, with the yellow metal aiming for back-to-back gains after a lengthy losing streak. Price action Gold futures\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=51192#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=51192\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=51192#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Gold prices on track for back-to-back gains following four-week losing streak\"}]},{\"@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 on track for back-to-back gains following four-week losing streak | iFintechWorld","description":"Gold prices traded modestly higher on Monday, with the yellow metal aiming for back-to-back gains after a lengthy losing streak. Price action Gold futures","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=51192","og_locale":"en_US","og_type":"article","og_title":"Gold prices on track for back-to-back gains following four-week losing streak | iFintechWorld","og_description":"Gold prices traded modestly higher on Monday, with the yellow metal aiming for back-to-back gains after a lengthy losing streak. Price action Gold futures","og_url":"https:\/\/ifintechworld.com\/?p=51192","og_site_name":"iFintechWorld","article_published_time":"2023-08-21T17:27:04+00:00","article_modified_time":"2023-08-21T17:27:06+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=51192#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=51192"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Gold prices on track for back-to-back gains following four-week losing streak","datePublished":"2023-08-21T17:27:04+00:00","dateModified":"2023-08-21T17:27:06+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=51192"},"wordCount":378,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=51192#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=51192","url":"https:\/\/ifintechworld.com\/?p=51192","name":"Gold prices on track for back-to-back gains following four-week losing streak | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-08-21T17:27:04+00:00","dateModified":"2023-08-21T17:27:06+00:00","description":"Gold prices traded modestly higher on Monday, with the yellow metal aiming for back-to-back gains after a lengthy losing streak. Price action Gold futures","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=51192#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=51192"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=51192#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Gold prices on track for back-to-back gains following four-week losing streak"}]},{"@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\/51192","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=51192"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/51192\/revisions"}],"predecessor-version":[{"id":51193,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/51192\/revisions\/51193"}],"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=51192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}