- Analytics
- News and Tools
- Market News
- Gold at 15-week low as strong greenback weighs
Gold at 15-week low as strong greenback weighs
Gold continued to decline and is trading at 15-week lows as a stronger U.S. dollar weighs. Better-than-expected U.S. jobs data reported last Friday added to expectations that the FED will hike interest rates rather sooner than later sending the precious metal down. A U.S. rate hike is now expected to happen possibly as soon as June.
A stronger U.S. dollar and the prospect for higher U.S. rates recently weighed on the precious metal as the precious metal is dollar-denominated and not yield-bearing.
Continuing uncertainty over Greece could not support the price of gold. The country remains in the focus as the proposed list of measures is far from complete, the head of Eurogroup Jeroen Dijsselbloem said on Sunday. On Monday ECB president Mario Draghi urged Greek officials to let return Eurozone-representatives to Greece in order to examine the government's books as a precondition for further financial aid. Greece agreed on allowing experts from the ECB and IMF to start their work on Wednesday.
Gold is currently quoted at USD1,161.50, +0,46% a troy ounce. On Thursday the 22nd of January gold reached a five-month high at USD1,307.40.
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
