{"id":1204683,"date":"2020-08-31T11:58:23","date_gmt":"2020-08-31T16:58:23","guid":{"rendered":"https:\/\/www.mining.com\/?p=1034275"},"modified":"2020-08-31T11:58:23","modified_gmt":"2020-08-31T16:58:23","slug":"gold-price-set-for-first-monthly-decline-since-march","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1204683","title":{"rendered":"Gold price set for first monthly decline since March"},"content":{"rendered":"

Gold prices edged higher on Monday as the US dollar weakened, although record-high equities capped bullion’s gains and set it for its first monthly decline since March.<\/p>\n

Spot gold advanced 0.4% to $1,971.90 per ounce by 12:10 p.m. EDT after touching a two-week high of $1,976.05 earlier in the session. US gold futures inched up 0.2% to $1,980.20 per ounce on the Comex in New York.<\/p>\n

For the month of August, the precious metal was down 0.2% despite rallying to an all-time high<\/a> of $2,072.90 during the period.<\/p>\n

\n
\n

Gold has gained about 29% so far this year, supported by rising economic uncertainty stemming from the covid-19 pandemic<\/p>\n<\/blockquote>\n<\/figure>\n

“The weaker dollar and the anticipation that we are going to get a further dollar weakness has led to some small increases (in gold),” Jeffrey Sica, founder of Circle Squared Alternative Investments, told Reuters<\/a><\/em>. The US dollar fell to its lowest since May 2018 against other major currencies.<\/p>\n

Meanwhile, world stocks hovered near record highs as investors bet on continued central bank monetary support to reinvigorate the global economy.<\/p>\n

However, “there is a significant concern that the (equities) market might have gotten extended and there might be some profit taking coming, which may lead to a rotation back to gold,” Sica said. <\/p>\n

Gold has gained about 29% so far this year, supported by rising economic uncertainty stemming from the covid-19 pandemic as well as the upcoming US elections.<\/p>\n

Last week<\/a>, the US Federal Reserve said it would adopt an average inflation target, meaning rates are likely to stay low even if inflation rises a bit in the future, which could serve as further impetus for bullion.<\/p>\n

(With files from Reuters)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

For the month of August, gold was down 0.2% despite rallying to an all-time high during the period.<\/p>\n","protected":false},"author":92,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[949,369],"tags":[],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1204683"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/92"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1204683"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1204683\/revisions"}],"predecessor-version":[{"id":1204693,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1204683\/revisions\/1204693"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1204683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1204683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1204683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}