• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Gold Price Tops $2,400 Again On Signs Of Cooling Inflation

1 year ago
in Business, Economy, Features, highlights, Home, home-news, latest News, Markets
1 min read
0 0
0
67
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

Gold Price Tops $2,400 Again On Signs Of Cooling Inflation

Gold has once again crossed the $2,400-an-ounce mark to close in on another record after an unexpected drop in US consumer prices bolstered hopes of a Federal Reserve interest rate cut in September.

Spot gold jumped 2.0% to $2,418.78 an ounce by 9:10 a.m. ET Thursday, for its highest in almost two months. US gold futures were up 1.6% at $2,419 an ounce in New York.

The rally comes on the back of new US data showing a 0.1% monthly decline in consumer prices, marking the first negative reading in over four years. Another key core price gauge that excludes food and energy advanced only 0.1% in June, further supporting the case for a Fed rate cut.

The figures indicate that inflation has resumed its downward trend after a flare up at the start of the year, while broader economic activity appears to be slowing. Earlier, Federal Reserve Chair Jerome Powell said the central bank doesn’t need inflation below 2% before cutting rates.

High rates have been a headwind for gold as a non-interest-bearing asset, but prices have still hit record highs this year on a wave of buying by investors and central banks. Thursday’s rally brought the precious metal into striking distance of the all-time high of $2,450.07 set in May.

“Below-expected inflation data is compounding the precious metals rally,” Ryan Mckay, a senior commodity strategist at TD Securities, said in an emailed note. “A key macro cohort that has been on the sidelines thus far is increasingly likely to regain interest in gold.”

Continue Reading
Source: mining.com
Via: norvanreports
Tags: 400 Again On Signs Of Cooling InflationGold priceGold price tops $2inflation

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.