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Gold Rises 2% on Week; First Weekly Win in Five

By Barani Krishnan AiVIF.com -- Gold prices rose 2% on the week to give longs in the game their first weekly win in five. While they may have secured a break from their gloom...
Gold Rises 2% on Week; First Weekly Win in Five © Reuters.

By Barani Krishnan

AiVIF.com -- Gold prices rose 2% on the week to give longs in the game their first weekly win in five.

While they may have secured a break from their gloom which began in mid-April, bulls in bullion still appeared to be on a knife's edge given the dollar’s potential to reprise 20-year highs, analysts cautioned.

Typical with its contrasting fashion to gold, the Dollar Index, which pits the greenback against six other major currencies, posted its first weekly decline in six. At Friday’s level of 103.23, the index wasn’t too far from the week-ago peak of 105.06, which marked a high since 2000.

Another bugbear for gold: bond yields.

The yield on the benchmark 10-year U.S. Treasury note has moved down to 2.79% from May peaks of 3.2% on expectations that forthcoming U.S. rates by the Federal Reserve in June and July will be capped at a half-percentage point each round, instead of the initially-speculated three-quarter point. Yet, with rate expectations often moving on a dime, yields could jump too.

“The second half of the week has been kind to gold as the trepidation in financial markets has shifted slightly from the pace of monetary tightening to recession risks,” said Craig Erlam, analyst at online trading platform OANDA. “So rather than higher yields and a stronger dollar weighing on the yellow metal, we've seen investors pouring into safe havens which have lowered yields slightly and lifted gold.”

Front-month gold futures for June on Comex settled at $1,842.10 per ounce, up just 90 cents, or less than 0.1%, on the day. Week-to-date though, June gold was up almost $34 or 1.9%.

It was a tumultuous week for futures of the yellow metal which plunged on Monday to $1,875, its lowest level since the Jan. 28 bottom of $1,779.70.

Erlam said it was tough to make a call on whether gold could extend its current rebound based on expectations that upcoming Fed hikes had been baked into the cake.

“Whether that will be sustained in this hiking environment will be interesting and ultimately depend on just how real and significant the economic fears are,” he said. “At the end of the day, rate hikes should lower demand but so should a recession. If the latter continues to be viewed as a likely outcome of the former, gold could see its fortunes improve further.”

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29-03-2024 13:38:44 (UTC+7)

EUR/USD

1.0775

-0.0012 (-0.11%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (3)

EUR/USD

1.0775

-0.0012 (-0.11%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (3)

GBP/USD

1.2622

0.0000 (0.00%)

Summary

Buy

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (3)

Sell (1)

USD/JPY

151.40

+0.04 (+0.02%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (5)

AUD/USD

0.6507

-0.0008 (-0.13%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (1)

Sell (9)

USD/CAD

1.3559

+0.0021 (+0.16%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (8)

Sell (1)

EUR/JPY

163.12

-0.13 (-0.08%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (1)

EUR/CHF

0.9722

-0.0005 (-0.05%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (4)

Gold Futures

2,254.80

-0.10 (0.00%)

Summary

Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (5)

Sell (0)

Silver Futures

25.100

+0.002 (+0.01%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Copper Futures

4.0115

-0.0003 (-0.01%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (7)

Sell (0)

Crude Oil WTI Futures

83.11

+1.76 (+2.16%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

Brent Oil Futures

86.99

+0.04 (+0.05%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (3)

Natural Gas Futures

1.752

+0.034 (+1.98%)

Summary

↑ Sell

Moving Avg:

Buy (5)

Sell (7)

Indicators:

Buy (0)

Sell (6)

US Coffee C Futures

188.53

-2.12 (-1.11%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Euro Stoxx 50

5,082.85

+1.11 (+0.02%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (6)

S&P 500

5,254.35

+5.86 (+0.11%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (3)

Sell (8)

DAX

18,504.51

+27.42 (+0.15%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

FTSE 100

7,952.62

+20.64 (+0.26%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (10)

Hang Seng

16,541.42

+148.58 (+0.91%)

Summary

Neutral

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (1)

US Small Cap 2000

2,120.15

+5.80 (+0.27%)

Summary

Neutral

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (5)

Sell (4)

IBEX 35

11,074.60

-36.70 (-0.33%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (2)

Sell (5)

BASF SE NA O.N.

52.930

-0.320 (-0.60%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (6)

Sell (1)

Bayer AG NA

28.43

+0.01 (+0.04%)

Summary

Buy

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (7)

Sell (1)

Allianz SE VNA O.N.

277.80

+0.35 (+0.13%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Adidas AG

207.00

+2.30 (+1.12%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (0)

Deutsche Lufthansa AG

7.281

+0.104 (+1.45%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (6)

Siemens AG Class N

176.96

+0.04 (+0.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (10)

Sell (0)

Deutsche Bank AG

14.582

-0.030 (-0.21%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (7)

Sell (1)

 EUR/USD1.0775↑ Sell
 GBP/USD1.2622Buy
 USD/JPY151.40Neutral
 AUD/USD0.6507↑ Sell
 USD/CAD1.3559↑ Buy
 EUR/JPY163.12↑ Buy
 EUR/CHF0.9722↑ Sell
 Gold2,254.80Buy
 Silver25.100↑ Buy
 Copper4.0115↑ Buy
 Crude Oil WTI83.11↑ Buy
 Brent Oil86.99Neutral
 Natural Gas1.752↑ Sell
 US Coffee C188.53↑ Sell
 Euro Stoxx 505,082.85↑ Sell
 S&P 5005,254.35↑ Sell
 DAX18,504.51↑ Buy
 FTSE 1007,952.62↑ Sell
 Hang Seng16,541.42Neutral
 Small Cap 20002,120.15Neutral
 IBEX 3511,074.60↑ Sell
 BASF52.930↑ Buy
 Bayer28.43Buy
 Allianz277.80↑ Buy
 Adidas207.00↑ Buy
 Lufthansa7.281↑ Sell
 Siemens AG176.96↑ Buy
 Deutsche Bank AG14.582↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank7,910/ 8,080
(30/ 30) # 1,361
SJC HCM7,900/ 8,100
(0/ 0) # 1,381
SJC Hanoi7,900/ 8,102
(0/ 0) # 1,383
SJC Danang7,900/ 8,102
(0/ 0) # 1,383
SJC Nhatrang7,900/ 8,102
(0/ 0) # 1,383
SJC Cantho7,900/ 8,102
(0/ 0) # 1,383
Cập nhật 29-03-2024 13:38:46
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$2,232.75-1.61-0.07%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V24.69025.180
RON 95-III24.28024.760
E5 RON 92-II23.21023.670
DO 0.05S21.01021.430
DO 0,001S-V21.64022.070
Dầu hỏa 2-K21.26021.680
ↂ Giá dầu thô thế giới
WTI$82.82+5.390.07%
Brent$86.82+5.180.06%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD24.610,0024.980,00
EUR26.047,4527.476,69
GBP30.507,5531.805,49
JPY159,05168,34
KRW15,9119,28
Cập nhật lúc 13:30:26 29/03/2024
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