{"id":113201,"date":"2024-02-09T09:47:57","date_gmt":"2024-02-09T09:47:57","guid":{"rendered":"https:\/\/kinesis.money\/?p=113201"},"modified":"2024-02-09T09:47:59","modified_gmt":"2024-02-09T09:47:59","slug":"gold-price-finds-support-2020-dollars","status":"publish","type":"post","link":"https:\/\/kinesis.money\/zh-hans\/market-analysis\/gold-news\/gold-price-finds-support-2020-dollars\/","title":{"rendered":"Gold Price News: Gold Edges Lower, Finds Support at $2,020 An Ounce"},"content":{"rendered":"\n

Gold prices edged slightly lower overall on Thursday in largely lacklustre trading, with prices recovering later in the session from earlier lows.<\/p>\n\n\n\n

Prices dipped as low as $2,020 an ounce in the early afternoon session but picked up again to trade at around $2,032 an ounce later in the afternoon. That compares with a high of $2,043 on Wednesday.<\/p>\n\n\n

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

US Initial Jobless Claims figures came out on Thursday showing that the number of people claiming unemployment benefits in the US fell by 9,000 to 218,000 in the most recent week, a slightly lower number than the market\u2019s expected 220,000.<\/p>\n\n\n\n

Overall, gold has shown a slight downward bias through the week as a whole, albeit with prices finding solid support below the $2,020 an ounce mark.<\/p>\n\n\n\n

The jobless figures were not enough to provide any convincing price momentum in either direction, with eyes on further upcoming data to gauge the chances of any changes in interest rate policy by the US Fed.<\/p>\n\n\n\n

Lower interest rates eventually are likely to provide a tailwind for gold prices, although recent economic data has been too strong to allow the US Fed to cut rates in the short-term, according to a report released Wednesday by the World Gold Council: Gold Market Commentary: Inflation risks seep back in | World Gold Council<\/a>.<\/p>\n\n\n\n

Moreover, Red Sea tensions have started to impact freight costs, which could lead to more general supply chain pressures that have contributed to higher inflation in the past, it said. Persistent high inflation maintains pressure on central banks to keep interest rates higher, in turn putting downward pressure on precious metals prices.<\/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>
\nRead 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 slightly lower overall on Thursday in largely lacklustre trading, with prices recovering later in the session from earlier lows.<\/p>\n","protected":false},"author":50,"featured_media":113231,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[215],"tags":[],"class_list":["post-113201","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-news"],"acf":[],"yoast_head":"\nGold Price News: Gold Edges Lower - Support at $2,020 An Ounce<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' gold news analysis for today, Friday 9th of February 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=\"zh_CN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold Price News: Gold Edges Lower, Finds Support at $2,020 An Ounce\" \/>\n<meta property=\"og:description\" content=\"Discover Kinesis' gold news analysis for today, Friday 9th of February 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/kinesis.money\/market-analysis\/gold-news\/gold-price-finds-support-2020-dollars\/\" \/>\n<meta property=\"og:site_name\" content=\"Kinesis\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-09T09:47:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-09T09:47:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/kinesis.money\/wp-content\/uploads\/2024\/02\/gold-news-feature-image-Gold-Edges-Lower-Finds-Support-At-2020-An-Ounce.png\" \/>\n\t<meta property=\"og:image:width\" content=\"960\" \/>\n\t<meta property=\"og:image:height\" content=\"529\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Frank Watson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:description\" content=\"Discover Kinesis' gold news analysis for today, Friday 9th of February 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"twitter:label1\" content=\"\u4f5c\u8005\" \/>\n\t<meta name=\"twitter:data1\" content=\"Frank Watson\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u9884\u8ba1\u9605\u8bfb\u65f6\u95f4\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 \u5206\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/gold-news\\\/gold-price-finds-support-2020-dollars\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/gold-news\\\/gold-price-finds-support-2020-dollars\\\/\"},\"author\":{\"name\":\"Frank Watson\",\"@id\":\"https:\\\/\\\/kinesis.money\\\/#\\\/schema\\\/person\\\/11c4884f9d074d6831f53e287228bf52\"},\"headline\":\"Gold Price News: Gold Edges Lower, Finds Support at $2,020 An Ounce\",\"datePublished\":\"2024-02-09T09:47:57+00:00\",\"dateModified\":\"2024-02-09T09:47:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/gold-news\\\/gold-price-finds-support-2020-dollars\\\/\"},\"wordCount\":282,\"image\":{\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/gold-news\\\/gold-price-finds-support-2020-dollars\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/kinesis.money\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/gold-news-feature-image-Gold-Edges-Lower-Finds-Support-At-2020-An-Ounce.png\",\"articleSection\":[\"Gold News\"],\"inLanguage\":\"zh-Hans\",\"copyrightYear\":\"2024\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/kinesis.money\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/gold-news\\\/gold-price-finds-support-2020-dollars\\\/\",\"url\":\"https:\\\/\\\/kinesis.money\\\/market-analysis\\\/gold-news\\\/gold-price-finds-support-2020-dollars\\\/\",\"name\":\"Gold Price News: Gold Edges Lower - 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