{"id":116611,"date":"2024-03-25T09:08:24","date_gmt":"2024-03-25T09:08:24","guid":{"rendered":"https:\/\/kinesis.money\/?p=116611"},"modified":"2024-03-25T09:08:25","modified_gmt":"2024-03-25T09:08:25","slug":"gold-lower-us-dollar-strengthen","status":"publish","type":"post","link":"https:\/\/kinesis.money\/de\/market-analysis\/gold-news\/gold-lower-us-dollar-strengthen\/","title":{"rendered":"Gold Price News: Gold Drifts Lower As US Dollar Strengthens"},"content":{"rendered":"\n

Gold prices drifted a few dollars lower on Friday to cap a volatile week in which prices hit fresh all-time highs, only to fall back to pare the gains.<\/p>\n\n\n\n

Prices eased to around $2,160 an ounce by Friday afternoon, down from around $2,182 an ounce in late deals on Thursday, and marked a second straight day of losses.<\/p>\n\n\n

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Kinesis gold KAU ($\/g) – from Kinesis Exchange<\/figcaption><\/figure>\n<\/div>\n\n\n

The US dollar strengthened on Thursday and Friday, reaching a three-week high against the euro, putting downward pressure on dollar-denominated gold prices.<\/p>\n\n\n\n

In general, a more cautious mood prevailed at the end of the week, following gold\u2019s surge to a new all-time high of $2,223 an ounce on Wednesday. The probability and timing of potential interest rate cuts continues to be a major driver for the gold market, with economic data pushing prices in either direction as the markets mulled the chances of a first cut to US interest rates in June.<\/p>\n\n\n\n

The Swiss National Bank\u2019s unexpected decision this week to cut rates was a contributor to the US dollar\u2019s strength, as it raised bets that other central banks could start to loosen monetary policy ahead of the US.<\/p>\n\n\n\n

Looking ahead, Monday will see speeches by ECB President Christine Lagarde as well as from US Fed officials, potentially offering further clues on the outlook for interest rates going forward.<\/p>\n\n\n\n

Then on Tuesday, the markets will get an update on monthly US Durable Goods Orders for February for the latest snapshot on the health of the US economy.<\/p>\n\n\n\t\t\t

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Frank\u2019s experience covering the commodities markets spans 22 years, with a particular specialism in metals, carbon and energy markets.\u00a0<\/em>He has worked as a senior editor for S&P Global Commodity Insights<\/a>\u00a0(formerly Platts) and before this, at ICIS-LOR, a part of Reed Business Information (Reed Elsevier), where he covered the petrochemicals markets from 2003 to 2005.<\/em><\/p>\n

This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.<\/i>
\n<\/i><\/p>\n

Read our Editorial Guidelines\u00a0<\/i>here.<\/a><\/i><\/p>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t","protected":false},"excerpt":{"rendered":"

Gold prices drifted a few dollars lower on Friday to cap a volatile week in which prices hit fresh all-time highs, only to fall back to pare the gains.<\/p>\n","protected":false},"author":50,"featured_media":116652,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[215,91],"tags":[],"class_list":["post-116611","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-news","category-market-analysis"],"acf":[],"yoast_head":"\nGold Price News: Gold Drifts Lower As US Dollar Strengthens<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' gold news analysis for today, Monday 25th of March 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta 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