{"id":1205934,"date":"2020-09-07T12:58:57","date_gmt":"2020-09-07T17:58:57","guid":{"rendered":"https:\/\/www.mining.com\/?p=1034823"},"modified":"2020-09-07T12:58:57","modified_gmt":"2020-09-07T17:58:57","slug":"gold-price-dips-on-dollar-gains","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1205934","title":{"rendered":"Gold price dips on dollar gains"},"content":{"rendered":"

Gold prices eased on Monday as the dollar made gains, although economic uncertainties kept it from falling further as investors await developments from central banks.<\/p>\n

Spot gold was down 0.3% to $1,926.49 per ounce by 1 p.m. EDT, while US gold futures steadied at $1,935.80 per ounce, with North American markets shut for the Labor Day holiday.<\/p>\n

Meanwhile, the dollar index rose 0.3%, making gold more expensive for those holding other currencies.<\/p>\n

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Gold is likely to trade sideways as recessionary fears have already been priced in<\/p>\n<\/blockquote>\n<\/figure>\n

\u201cA higher dollar is weighing on gold, while longer-term uncertainties still persisting in the market is putting a floor under prices,\u201d Carsten Menke, analyst at Julius Baer, told Reuters<\/a><\/em>.<\/p>\n

\u201cGold is likely to trade sideways as recessionary fears have already been priced in and investors are now waiting to see what happens next in term of central bank policies,\u201d Menke added.<\/p>\n

Central banks around the globe have cut interest rates to tackle the coronavirus crisis, with gold gaining over 27% this year as lower interest rates decrease the opportunity cost of holding non-yielding bullion.<\/p>\n

Investors are now focused on the European Central Bank\u2019s policy decision on Thursday. Most analysts do not anticipate a change in policy stance<\/a>, but are more interested in the message ECB will deliver on its inflation forecasts.<\/p>\n

\u201cWe wouldn\u2019t be surprised to see gold bouncing off the lower end of this corridor and going higher over the next weeks, but a fall below $1,900 cannot be ruled out if there\u2019s a chance of expectation of stronger economic data from US,\u201d Commerzbank analyst Eugen Weinberg stated<\/a>.<\/p>\n

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

Spot gold was down 0.3%, while US gold futures remained steady.<\/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\/1205934"}],"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=1205934"}],"version-history":[{"count":2,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1205934\/revisions"}],"predecessor-version":[{"id":1205942,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1205934\/revisions\/1205942"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1205934"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1205934"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1205934"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}