NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

PRECIOUS-Gold gains on weaker dollar; retail sales, jobless data eyed

Published 15/04/2021, 11:55 am
© Reuters.
XAU/USD
-
XAG/USD
-
JNJ
-
GC
-
SI
-
PA
-
PL
-

April 15 (Reuters) - Gold prices rose on Thursday as a weaker dollar boosted the safe-haven metal's appeal, while investors awaited the release of weekly jobless claims and March retail sales data in the United States later in the day.

FUNDAMENTALS

* Spot gold XAU= rose 0.2% to $1,738.96 per ounce by 0121 GMT. U.S. gold futures GCv1 were up 0.1% to $1,737.90 per ounce.

* The dollar held near a three-week low against a basket of currencies on Thursday, as U.S. bond yields levelled off following a surge last month. USD/ US/

* A weaker dollar makes gold cheaper for buyers outside the United States.

* Further supporting bullion, major global stock indexes also slipped. MKTS/GLOB .N

* The U.S. economy accelerated into the spring on the basis of rising consumer sentiment, according to the Federal Reserve, and Fed Chair Jerome Powell said the country is on track for faster growth and hiring in the coming months. The eurozone economy, however, is now relying on the "two crutches" of monetary and fiscal stimulus, which cannot be removed until the economy recovers completely, according to European Central Bank President Christine Lagarde. U.S. import prices rose more than anticipated in March, boosted by higher fuel rates and tight supply chains. A U.S. health panel called for more data before making a decision on whether to resume Johnson & Johnson (NYSE:JNJ)'s JNJ.N vaccine. Silver XAG= rose 0.5% to $25.53 and palladium XPD= was up 0.3% at $2,683.51. Platinum XPT= gained 0.5% to $1,176.05.

DATA/EVENTS (GMT) 0130 Australia Employment

March 0130 Australia Unemployment Rate

March 0600 Germany

HICP Final YY

March 0645 France

CPI (EU Norm) Final MM, YY March 1000 EU

Reserve Assets Total

March 1230 US

Initial Jobless Clm

Weekly 1230 US

Philly Fed Business Indx

April 1230 US

Retail Sales MM

March 1315 US

Industrial Production MM

March

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.