{"id":128853,"date":"2024-08-07T09:55:34","date_gmt":"2024-08-07T09:55:34","guid":{"rendered":"https:\/\/kinesis.money\/?p=128853"},"modified":"2024-08-07T12:35:16","modified_gmt":"2024-08-07T12:35:16","slug":"gold-drifts-lower-subdued-trading","status":"publish","type":"post","link":"https:\/\/kinesis.money\/es\/market-analysis\/gold-news\/gold-drifts-lower-subdued-trading\/","title":{"rendered":"Gold Price News: Gold Drifts Lower In Subdued Trading"},"content":{"rendered":"\n

Gold prices edged lower on Tuesday, adding to Monday\u2019s losses, which came after a volatile day in the wider global stock markets.<\/p>\n\n\n\n

Gold prices fell as low as $2,382 an ounce<\/a> on Tuesday, compared with around $2,410 an ounce in late trades on Monday.<\/p>\n\n\n\n

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KAU\/USD 1-hourly Kinesis Exchange <\/figcaption><\/figure>\n\n\n\n

There were few apparent drivers to significantly affect gold markets on Tuesday, leaving prices to drift slightly lower in largely lacklustre trading. The subdued trading activity contrasted sharply with Friday last week when prices hit a fresh all-time high of $2,486 an ounce.<\/p>\n\n\n\n

Tuesday\u2019s market seemed like the \u2018calm after the storm,\u2019 which followed Monday\u2019s stock market panic, which may have prompted some precious metals traders to liquidate gold positions amid margin calls on equity positions, according to some observers.<\/p>\n\n\n\n

On the monetary policy side, the interest rate markets are now fully bracing for a start to interest rate cuts by the US Fed at its next meeting on 18th September, and data from traders indicates a more than 65% probability of a 50-basis point cut, and a 34% chance of a smaller cut of 25 basis points.<\/p>\n\n\n\n

And looking further out, the markets appear to expect several cuts by the end of the year amounting to a full 100-basis point cut from the current 5.25%, according to data from the CME FedWatch tool: CME FedWatch – CME Group<\/a>.<\/p>\n\n\n\n

The outlook for looser monetary policy provides a supportive element for gold as a non-yield-bearing asset, and this factor has combined with strong central bank buying to deliver a positive performance for the yellow metal in 2024 so far, with a gain of just over 16%.<\/p>\n\n\n\t\t\t

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Frank\u2019s experience<\/a> 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\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 edged lower on Tuesday, adding to Monday\u2019s losses, which came after a volatile day in the wider global stock markets.<\/p>\n","protected":false},"author":50,"featured_media":128891,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[215,194],"tags":[],"class_list":["post-128853","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-news","category-market-analysis"],"acf":[],"yoast_head":"\nGold Drifts Lower In Subdued Trading | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' gold news analysis for today, Wednesday 7th of August 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=\"es_ES\" \/>\n<meta property=\"og:type\" 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