{"id":143256,"date":"2024-12-11T10:18:49","date_gmt":"2024-12-11T10:18:49","guid":{"rendered":"https:\/\/kinesis.money\/?p=143256"},"modified":"2024-12-16T09:48:01","modified_gmt":"2024-12-16T09:48:01","slug":"gold-climbs-two-week-high","status":"publish","type":"post","link":"https:\/\/kinesis.money\/pt-br\/market-analysis\/gold-news\/gold-climbs-two-week-high\/","title":{"rendered":"Gold Price News: Gold Climbs to Two-Week High"},"content":{"rendered":"\n

Gold prices made solid gains on Tuesday, rising for a second day, after China announced a looser approach to monetary policy that could involve lowering interest rates.<\/p>\n\n\n\n

Prices rose as high as $2,696 an ounce on Tuesday – their highest since November 25th<\/sup>. That compared with around $2,660 an ounce in late deals on Monday.<\/p>\n\n\n

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\"gold
Gold KAU\/USD \u2013 1hr view \u2013 Kinesis Exchange<\/figcaption><\/figure>\n<\/div>\n\n\n

Gold took support from news on Monday that China plans to loosen its stance on monetary policy for the first time in 14 years. The prospect of lower borrowing costs in China follows a monetary stimulus in September and fiscal measures in November which sought to boost economic conditions in the country.<\/p>\n\n\n\n

Chinese central bank buying gold again<\/h2>\n\n\n\n

Boosting gold even further, the People\u2019s Bank of China has resumed gold purchases after a six-month pause, according to news reports this week. A return to buying by China\u2019s central bank is undoubtedly bullish for the precious metal, which has made extraordinary gains in recent years that were partly driven by central bank demand.<\/p>\n\n\n\n

Geopolitical tensions continue to be a wildcard factor for gold, with eyes on Syria after the recent collapse of the government headed by former President Bashar al-Assad. This has increased uncertainty over the future stability of the country, supporting interest in gold due to its safe-haven appeal.<\/p>\n\n\n\n

Upcoming events<\/h2>\n\n\n\n

Looking ahead, the markets will be watching out for the US inflation data for November due out on Wednesday, as traders look ahead to an expected interest rate cut by the US Fed on December 18th<\/sup>. The Bank of Canada is set to make an interest rate decision on Wednesday, with the markets expecting a 50 basis-point cut to 3.25%. Then it will be the European Central Bank\u2019s turn on Thursday, with the markets expecting a 25 basis-point cut to 3.15%. Thursday will also bring the latest updates on monthly US producer price inflation and weekly initial jobless claims figures.<\/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 made solid gains on Tuesday, rising for a second day, after China announced a looser approach to monetary policy that could involve lowering interest rates. Prices rose as high as $2,696 an ounce on Tuesday – their highest since November 25th. That compared with around $2,660 an ounce in late deals on Monday. […]<\/p>\n","protected":false},"author":50,"featured_media":143288,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[215],"tags":[],"class_list":["post-143256","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-news"],"acf":[],"yoast_head":"\nGold Price News: Gold Climbs to Two-Week High - Kinesis<\/title>\n<meta name=\"description\" content=\"Discover how China's latest monetary policy shift is driving up gold prices. 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