* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, August 26, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    ‘The Roses’ review: Olivia Colman, Benedict Cumberbatch sparkle in dark comedy – Yakima Herald-Republic

    The Roses’ Review: Olivia Colman and Benedict Cumberbatch Shine in Dark Comedy Delight

    ‘When Calls the Heart’ Fans All Want the Same Thing After Seeing the Show’s Latest Update – yahoo.com

    When Calls the Heart’ Fans Rally Together in Excitement Over Exciting New Update!

    Quotes of the Week: Peacemaker, Project Runway, Countdown and More – yahoo.com

    This Week’s Most Memorable Quotes from Peacemaker, Project Runway, Countdown, and More!

    Drake Appears in Teaser for Bobbi Althoff’s New Podcast ‘Not This Again’ – yahoo.com

    Drake Drops a Surprise Cameo in Bobbi Althoff’s Thrilling New Podcast Teaser ‘Not This Again

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    How to watch ‘F1: The Movie’ on Prime Video – About Amazon

    Experience the Thrill: How to Stream ‘F1: The Movie’ on Prime Video

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    The Role of AI and Technology in Shaping the Future of Interactive Entertainment – Technology Org

    How AI and Technology Are Transforming the Future of Interactive Entertainment

    Ten upcoming sports stadiums where technology takes to the field – Dezeen

    10 Futuristic Sports Stadiums Revolutionizing the Game with Cutting-Edge Technology

    Figure Technology Solutions, Inc. Files Registration Statement for Proposed Initial Public Offering – Business Wire

    Figure Technology Solutions, Inc. Unveils Exciting Plans for Its Upcoming Initial Public Offering

    UNLV Responds to Workforce Need with Microcredential in Nuclear Technology – University of Nevada, Las Vegas | UNLV

    UNLV Unveils Cutting-Edge Microcredential Program to Fuel Growth in Nuclear Technology

    Why Technology Will Never Take Over Completely – Patheos

    Why Technology Will Never Completely Control Our Lives

    Alcorn State awarded grant to boost STEM with VR technology – WJTV

    Alcorn State Secures Grant to Transform STEM Education Through Cutting-Edge VR Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    ‘The Roses’ review: Olivia Colman, Benedict Cumberbatch sparkle in dark comedy – Yakima Herald-Republic

    The Roses’ Review: Olivia Colman and Benedict Cumberbatch Shine in Dark Comedy Delight

    ‘When Calls the Heart’ Fans All Want the Same Thing After Seeing the Show’s Latest Update – yahoo.com

    When Calls the Heart’ Fans Rally Together in Excitement Over Exciting New Update!

    Quotes of the Week: Peacemaker, Project Runway, Countdown and More – yahoo.com

    This Week’s Most Memorable Quotes from Peacemaker, Project Runway, Countdown, and More!

    Drake Appears in Teaser for Bobbi Althoff’s New Podcast ‘Not This Again’ – yahoo.com

    Drake Drops a Surprise Cameo in Bobbi Althoff’s Thrilling New Podcast Teaser ‘Not This Again

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    From polka to Poison, Corn Palace adjusts entertainment offerings with the times – Mitchell Republic

    How to watch ‘F1: The Movie’ on Prime Video – About Amazon

    Experience the Thrill: How to Stream ‘F1: The Movie’ on Prime Video

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    The Role of AI and Technology in Shaping the Future of Interactive Entertainment – Technology Org

    How AI and Technology Are Transforming the Future of Interactive Entertainment

    Ten upcoming sports stadiums where technology takes to the field – Dezeen

    10 Futuristic Sports Stadiums Revolutionizing the Game with Cutting-Edge Technology

    Figure Technology Solutions, Inc. Files Registration Statement for Proposed Initial Public Offering – Business Wire

    Figure Technology Solutions, Inc. Unveils Exciting Plans for Its Upcoming Initial Public Offering

    UNLV Responds to Workforce Need with Microcredential in Nuclear Technology – University of Nevada, Las Vegas | UNLV

    UNLV Unveils Cutting-Edge Microcredential Program to Fuel Growth in Nuclear Technology

    Why Technology Will Never Take Over Completely – Patheos

    Why Technology Will Never Completely Control Our Lives

    Alcorn State awarded grant to boost STEM with VR technology – WJTV

    Alcorn State Secures Grant to Transform STEM Education Through Cutting-Edge VR Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Gold surges to all-time highs on Federal Reserve speculation, global uncertainties

March 6, 2024
in Business
Gold surges to all-time highs on Federal Reserve speculation, global uncertainties
Share on FacebookShare on Twitter

In a rapid ascent, gold reached unprecedented heights, touching an all-time high of $2,141.79 per ounce, fueled by fund buying and speculation surrounding a potential Federal Reserve pivot. The rally, boosted by macro funds and commodity trading advisors, saw gold rise over 4% since Thursday, driven by expectations of monetary easing and rising geopolitical tensions. The unexpected surge, coupled with uncertainties in equity markets, led some investors to shift from stocks to gold. Despite outflows from gold-backed ETFs, persistent central bank demand and global uncertainties continue to support gold’s safe-haven status.

Sign up for your early morning brew of the BizNews Insider to keep you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here.

By Yvonne Yue Li and Jack Ryan

Gold touched an all-time high as fund buying combined with speculation over a Federal Reserve pivot and geopolitical and financial risks underpinned a rally in the precious metal.

Bullion rose as much as 1.3% to $2,141.79 an ounce before paring gains, with Tuesday’s high topping the previous record of $2,135.39 set three months ago.

Gold has risen more than 4% since Thursday, fueled by expectations for monetary easing, geopolitical tensions and the risk of an equity markets pullback. Macro funds and momentum buying by commodity trading advisors contributed to the gain, according to TD Securities commodity strategist Ryan McKay.

The scale of the move surprised some market watchers, particularly since there hasn’t been a significant change in expectations for the Fed’s easing pivot or other macroeconomic drivers during that time.

“The velocity and the speed was very sudden, very fast,” said James Steel, an analyst at HSBC Holdings Plc. “It didn’t seem to have a smoking gun.”

The rising risk of a stock market correction — flagged by weak US manufacturing data on Friday — may have persuaded some investors to move out of equities and into gold, said Ole Hansen, commodity strategist at Saxo Bank A/S.

While the timing of the Fed’s pivot remains uncertain, signs that it is getting closer have supported gold since mid-February. Swaps markets show a 64% chance of a rate cut in June, a higher probability than early last month. Lower borrowing costs are typically positive for the precious metal, which doesn’t offer any interest.

Macro funds, which haven’t been active in the gold market until recently, were a new force of buying in gold’s rally. The latest CFTC data showed hedge fund and money managers boosted their net bullish gold bets as of Feb. 27 — although it’s worth noting that this group of investors added short positions roughly in line with new long wagers, pointing to uncertainty in the market, according to TD’s McKay.

Options-related buying above $2,100 strike price also helped fuel the rally, according to HSBC’s Steel. 

Gold ETFs

Gold’s recent gains has also highlighted an increasing disconnect between spot prices and outflows from bullion-backed exchange traded funds. Holdings in SPDR Gold Shares, the world’s largest such ETF, fell by 0.3% on Monday, taking the total to the lowest level since July 2019, according to data compiled by Bloomberg.

Those outflows have partly been offset by persistent central bank demand for the precious metal, which helped keep prices elevated even as real interest rates spiked last year. Physical demand from gold bars and coins also absorbed the gold that left ETFs. Bullion was also supported over the Lunar New Year, as Chinese consumers sought a hedge against turmoil the country’s stock market and property sector. 

In the first months of this year, gold’s role as a haven asset is being underlined by elevated geopolitical risks, with attacks on shipping in the Red Sea showing escalating Middle East tensions. China’s economic woes and the US presidential election at the end of the year make it a potentially volatile mix.

“Speculation over a Fed rates pivot and continued geopolitical tensions keep gold shining,” said Ewa Manthey, commodities strategist at ING Groep. “We expect gold prices to trade higher this year as safe-haven demand continues to be supportive amid geopolitical uncertainty with ongoing wars and the upcoming US election.”

Bitcoin Record

Still, bullion has further to go to reach its inflation-adjusted peaks set more than a decade ago. Gold has risen more than 600% since the turn of the millennium, though adjusted for inflation it remains below the high of $850 touched in January 1980, which would be equivalent to more than $3,000 in today’s dollars.

Gold’s drive to a new all-time high occurred when bitcoin also surged to a record. While there are arguments that some investors seek safety in both assets, “it’s too soon to tell whether bitcoin’s a safe haven or not,” said Ryan McIntyre, senior portfolio manager at Sprott Asset Management.

Spot gold was trading 0.7% higher at $2,130.03 an ounce as of 3:23 p.m. in New York. The Bloomberg Dollar Spot Index was lower. Silver, platinum and palladium fell.

Read also:

🔒 Crypto’s Wrestlemania: Bitcoin ETF hype is more a memestock than Gold 2.0 – Lionel Laurent
🔒 From the FT: Bitcoin leaves the rest of the crypto market behind
Tax Justice South Africa calls for “Gold Mafia” arrests as SARS sues SASFIN for R4.9bn

© 2024 Bloomberg L.P.

Visited 58 times, 58 visit(s) today

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : BizNews – https://www.biznews.com/gold/2024/03/06/gold-surges-all-time-highs

Tags: All-TimebusinessSurges
Previous Post

Govt inaction on Treasury’s Eskom report risks Stage 10 load-shedding – IRR’s Endres

Next Post

Chuck Stephens: Sleeping with a loaded gun…

WA Ecology official testifies against repeal of ‘endangerment finding’ that allows for climate regulation – The Spokesman-Review

WA Ecology official testifies against repeal of ‘endangerment finding’ that allows for climate regulation – The Spokesman-Review

August 26, 2025
Bishop Kearney girls’ hockey team partners with UR Medicine for science-based training – 13wham.com

Bishop Kearney Girls’ Hockey Team Teams Up with UR Medicine for Cutting-Edge Science-Based Training

August 26, 2025
STEM camps offered at National Museum of Nuclear Science and History – KRQE

Discover Thrilling STEM Camps Now Open at the National Museum of Nuclear Science and History!

August 26, 2025
7 things people do when they care too much about what others think – VegOut

7 Signs You’re Caring Too Much About What Others Think

August 26, 2025
The Role of AI and Technology in Shaping the Future of Interactive Entertainment – Technology Org

How AI and Technology Are Transforming the Future of Interactive Entertainment

August 26, 2025
First look: ‘Whistle Blowers’ doc focuses on the crisis facing youth sports officials – NBC 5 Dallas-Fort Worth

Inside the Crisis Facing Youth Sports Officials: An Eye-Opening Look at ‘Whistle Blowers

August 26, 2025
South Carolina city selected to host 2027 Diamond Youth Baseball World Series – WRDW

South Carolina City Selected to Host the Exciting 2027 Diamond Youth Baseball World Series

August 25, 2025

Brazil’s low-voltage consumers could save 16% on power bills – Valor International

August 25, 2025
‘The Roses’ review: Olivia Colman, Benedict Cumberbatch sparkle in dark comedy – Yakima Herald-Republic

The Roses’ Review: Olivia Colman and Benedict Cumberbatch Shine in Dark Comedy Delight

August 25, 2025
Georgia lawmakers plan for federal cuts to already ‘underfunded’ public health services – Grice Connect

Georgia Lawmakers Prepare to Fight Federal Cuts Threatening Public Health Services

August 25, 2025

Categories

Archives

August 2025
MTWTFSS
 123
45678910
11121314151617
18192021222324
25262728293031
« Jul    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (790)
  • Economy (809)
  • Entertainment (21,689)
  • General (16,673)
  • Health (9,850)
  • Lifestyle (823)
  • News (22,149)
  • People (811)
  • Politics (818)
  • Science (16,020)
  • Sports (21,309)
  • Technology (15,791)
  • World (791)

Recent News

WA Ecology official testifies against repeal of ‘endangerment finding’ that allows for climate regulation – The Spokesman-Review

WA Ecology official testifies against repeal of ‘endangerment finding’ that allows for climate regulation – The Spokesman-Review

August 26, 2025
Bishop Kearney girls’ hockey team partners with UR Medicine for science-based training – 13wham.com

Bishop Kearney Girls’ Hockey Team Teams Up with UR Medicine for Cutting-Edge Science-Based Training

August 26, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version