gold price surged Tuesday morning climbed back to $1,900 per ounce!

The gold price surged Tuesday morning climbed back to $1,900 per ounce after last week the Labor Department reported that zero nonfarm payrolls were created in August versus expectations of 68,000, according to a Bloomberg survey of economists. This was the weakest jobs data since September 2010. Furthermore, July’s payroll figures were revised downward. The unemployment rate was unchanged at 9.1% in August.

Comments

Post a Comment

Popular posts from this blog

Gold Investment Update – April 17, 2025: Navigating Record Highs Amid Tariff Turmoil

Image
  As of April 17, 2025, gold prices have surged to a new record high of $3,357.40 per troy ounce, driven by escalating trade tensions and investor concerns over potential economic slowdowns. Federal Reserve Chair Jerome Powell highlighted that President Trump's tariffs are "significantly larger" than anticipated, raising fears of slower economic growth and heightened inflation. citeturn0news0 Top Gold Investment Avenues Gold ETFs : Exchange-Traded Funds like SPDR Gold Shares (GLD) offer investors exposure to gold prices without the need to hold physical gold. Physical Gold Bullion : Investing in gold bars and coins remains a traditional method for those seeking tangible assets. Gold IRAs : Individual Retirement Accounts that include gold can provide tax advantages and portfolio diversification. Gold Coin Investment : Collectible coins, such as the American Gold Eagle, combine aesthetic appeal with investment value. Best Gold Stocks : Companies like Newm...
Read more

Gold edges up on weaker dollar, dovish U.S. Fed policy bets

Image
 Gold edged higher on Monday, helped by a weaker dollar and expectations that the U.S. Federal Reserve will reiterate its dovish monetary policy stance this week. Spot gold was up by 0.1% at $1,943.58 per ounce. U.S. gold futures rose 0.1% to $1,950.10 per ounce. “Gold is firm on the basis that the Fed could adopt a further dovish message with respect to average inflation targeting,” said Michael Hewson, chief market analyst at CMC Markets UK. “If you want to have a policy of average inflation targeting, you’re going to have to go into detail as to how you are going to arrive at that particular outcome.” The dollar retreated on Mond ay, bolstering gold’s appeal for investors holding other currencies, ahead of the Fed’s policy decision due on Wednesday. “If inflation forecasts remain at 2% or below, this could offer gold a tailwind as the zero-yielding metal thrives in a low-interest rate environment,” said FXTM analyst Lukman Otunuga. Market participants are also wai...
Read more

Trump’s 24% Tariff on Malaysia Roils Markets and Fuels Gold Price Surge

Image
Trump’s Reciprocal Tariff Policy – What Happened? In early April 2025, the United States shocked global markets by imposing a 24% “reciprocal” tariff on Malaysian imports as part of President Donald Trump’s sweeping trade measures ( US imposes 24% reciprocal tariff on Malaysia | The Star ). Effective April 9, this hefty levy was aimed at countries with which the U.S. runs large trade deficits ( Malaysia hit with 24% US reciprocal tariff effective April 9 ). Malaysia – which enjoys a trade surplus with the U.S., mainly via exports of electronics, palm oil and machinery – found itself 11th on Trump’s tariff list ( Malaysia hit with 24% US reciprocal tariff effective April 9 ) ( US imposes 24% reciprocal tariff on Malaysia | The Star ). Notably, the policy isn’t blanket: not all Malaysian goods are hit , as critical products like medical gloves and semiconductors were exempted from the 24% duty ( Malaysia hit with 24% US reciprocal tariff effective April 9 ). These tariffs come on top...
Read more