{"id":122903,"date":"2024-05-03T07:54:40","date_gmt":"2024-05-03T07:54:40","guid":{"rendered":"https:\/\/kinesis.money\/?p=122903"},"modified":"2024-05-03T08:04:31","modified_gmt":"2024-05-03T08:04:31","slug":"gold-eases-lower-support-below-2290","status":"publish","type":"post","link":"https:\/\/kinesis.money\/pt-br\/market-analysis\/gold-news\/gold-eases-lower-support-below-2290\/","title":{"rendered":"Gold Price News: Gold Eases Lower, Finds Support Below $2,290"},"content":{"rendered":"\n

Gold prices eased lower on Thursday, giving up the previous day\u2019s gains, although prices came back up off the lows to finish down around 0.7% day-on-day.<\/p>\n\n\n\n

Prices fell as low as $2,286 an ounce before climbing back to around $2,304 an ounce later in the day. That compared with around $2,322 an ounce in late deals on Wednesday.<\/p>\n\n\n\n

Gold prices underwent successive moves lower this week as prices pulled back from highs of over $2,400 an ounce seen in mid-April.<\/p>\n\n\n\n

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

US initial jobless claims figures released Thursday came in at 208,000 in the week to April 27, showing only a slight reduction against forecasts of 212,000. Meanwhile, US factory orders for March rose by 1.6% from February levels, in line with market expectations. <\/p>\n\n\n\n

The figures provided little convincing momentum in either direction, leaving gold to find tentative support at around the $2,290 an ounce level.<\/p>\n\n\n\n

The US dollar fell against other major currencies through the afternoon after an earlier push higher, and this may have helped gold to climb back up off the lows on Thursday afternoon. Yields on US 10-year treasuries also fell later in the day, providing a supportive element for gold.<\/p>\n\n\n\n

That said, gold continues to fight a headwind now that markets are broadly expecting US interest rates to stay on hold at least until the autumn, reducing the appeal of assets that don\u2019t earn a yield.<\/p>\n\n\n\n

Looking ahead, the markets will be watching out for Friday\u2019s US non-farm payrolls, unemployment rate and ISM Services PMI figures, all of which relate to April, for the latest health check on 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 eased lower on Thursday, giving up the previous day\u2019s gains, although prices came back up off the lows to finish down around 0.7% day-on-day.<\/p>\n","protected":false},"author":50,"featured_media":122904,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[215,91],"tags":[],"class_list":["post-122903","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-news","category-market-analysis"],"acf":[],"yoast_head":"\nGold Eases Lower, Finds Support Below $2,290 | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' gold news analysis for today, Friday 3rd of May 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=\"pt_BR\" \/>\n<meta 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