- November 19, 2021
- By: Admin2_blog
- Indices
U.S. and European equity futures rose Friday along with most Asian stocks amid optimism that the pandemic recovery can weather elevated inflation and tightening monetary policy.
Gold
U.S. and European equity futures rose Friday along with most Asian stocks amid optimism that the pandemic recovery can weather elevated inflation and tightening monetary policy.
Gold prices edged up on Wednesday but hovered close to recent lows, with a strong U.S. dollar taking some of the precious metal’s shine away.
Most Asian stocks fell Wednesday as the dollar held around a one-year high, bolstered by robust U.S. economic data that highlighted the case for tighter monetary policy and pushed up Treasury yields.
U.S. equity futures drifted after a report showed the biggest jump in U.S. retail sales since March. Meanwhile, traders awaited decision from the White House on who the next Federal Reserve head will be.
Gold prices rose on Tuesday, with persistent inflation worries keeping bullion’s appeal as a hedge against higher price levels intact despite a stronger U.S. dollar and elevated bond yields.
U.S. futures rose amid optimism that companies can weather the supply-side crisis and central banks will keep fueling stock rallies. Treasuries were steady.
Stocks were mixed Monday amid data showing steadying economic growth in China as well as ongoing challenges in the nation’s troubled property sector. Treasuries were steady and the dollar slipped.
Gold prices eased on Friday due to a firmer dollar but were on track for their biggest weekly gain in six months as concerns over soaring U.S. consumer prices boosted the metal’s appeal as an inflation hedge.
Spot gold fell 0.2% to $1,857.84 per ounce by 0625 GMT, after hitting a five-month peak on Wednesday. U.S. gold futures eased 0.1% to $1,861.30.
Gold prices edged up on Thursday, recovering from a three-week low in the last session as investors took solace in the U.S. Federal Reserve saying it would not rush into hiking interest rates even as it begins tapering its stimulus. Spot gold rose 0.3% to $1,775.00 per ounce by 0419 GMT, after touching its lowest since Oct. 13 on Wednesday. U.S. gold futures gained 0.7% to $1,775.40.