Gold Headlines

Fed’s inflation shift is another blow to ‘safe’ assets (ft)

Budget deficit to hit record $3.3 trillion

Barrick takes Porgera dispute to PNG Supreme Court

Private payrolls grow by 428,000 but miss expectations, ADP report says

Gold eases as recovery hopes gain traction

“However, besides other strong fundamentals like weak economy and lower interest rates, Australian and U.S. mints reporting very high demand for gold coins will take gold above $2,000 in the long run.” The dollar index <.DXY > rebounded from a two-year low after data revealed that manufacturing activity in the U.S. increased more than expected in August, which followed similar positive indicators this week from China and Europe. A stronger greenback makes gold expensive for…

Nigeria says can tap mineral wealth despite COVID, unrest

Federal Reserve: We got it ‘wrong’ on post-crisis rate hikes

Current and former Federal Reserve officials say the timing of its interest rate hikes between 2015 and 2018 may have been a mistake, a rare moment of humility spurred by the Fed’s adoption of a new framework for approaching inflation. Lael Brainard and Richard Clarida, both serving on the Fed’s Board of Governors, said this week that the Fed may have curbed a quicker post-2008 recovery in the job market by lifting off of zero interest rates too soon. “There would have been a different…

Currencies retreat as dollar bounces from two-year lows

Gold dips as solid U.S. manufacturing data lifts dollar

"A stronger greenback is weighing on the precious metal," said Margaret Yang, a strategist with DailyFx, which covers currency, commodity and index trading community. "The broader picture is still in favour of gold, as the U.S. Federal Reserve and other central banks are likely to stay accommodative for an extended period of time." The dollar index bounced off two-year lows after U.S. data showed manufacturing activity accelerated to a near two-year high in August. A stronger greenback…

Spain's unemployment rises amid new COVID outbreaks, tourist restrictions