The prices of gold extended gains on Wednesday (May 11) after another higher-than-expected inflation reading in the US signaled the economy continues to face upward price pressures.
Gold prices edged higher on Thursday (March 10) with the yellow metal bouncing above the $2,000 an ounce level after reports suggested that negotiations between Russia and Ukraine in Turkey yielded no tangible results.
Gold jumped over 2% on Thursday (Sept. 30) to reach the highest level in a week as weaker U.S. labor data and a softer dollar supported the yellow metal.
Precious metals prices rose on Wednesday (August 4) after a report issued by U.S. payroll processor ADP showed a gain of 330,000 jobs for July, falling below analyst expectations.
Gold investment demand fell in the first quarter of this year (Q1) driven by hefty outflows in gold-backed exchange-traded funds (ETFs) as growing expectations of higher interest rates impacted sentiment, according to the latest Gold Demand Trends report by the World Gold
Global gold demand dropped by 19% y-o-y to 892t in Q3, as consumers continued to feel the impact of the COVID-19 pandemic. This was the lowest quarterly total since Q3 2009.
Global demand for gold increased 1% annually to reach 1,083.8 tonnes in the first three tumultuous months of 2020, as worries over a world economic slowdown caused by the coronavirus pandemic drove investors to the safe-haven metal.
Demand for gold declined by 1% in 2019, with China and India contributing most to the decline in demand, the World Gold Council (WGC) announced on Thursday (Jan.30), saying global demand stood at 4.4 trillion tonnes.
Gold inched up on Monday (Oct. 28), after a near 1% jump in the previous session, ahead of the US Federal Reserve's rate decision on Wednesday amid ongoing developments in the China-US trade negotiations.
Multiple drone attacks on key Saudi Arabian oil facilities over the weekend, have shaken up world markets.