Gold price holding solid gains as U.S. GDP drops 0.9% in Q2 kitconews gold silver investing economics mining metals finance
Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!
“The decrease in real GDP reflected decreases in private inventory investment, residential fixed investment, federal government spending, state and local government spending, and nonresidential fixed investment that were partly offset by increases in exports and personal consumption expenditures,” the report said.The gold market, is holding solid gains following the latest economic report. August gold futures last traded at $1,741.50 an ounce, up 1.32% on the day.
However, not all economists expect the Federal Reserve to ease up on its aggressive rate hike stance. According to market analysts, the report showed that inflation is having a significant impact on economic growth. The report said that the quarter GDP Price Index rose 8.7%, up from the first quarter reading of 8.2. Economists were expecting an increase of 7.9%.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
World Gold Council sees flat gold demand in 2022 as market loses momentum in Q2(Kitco News) - The gold market saw robust physical demand in the first half of the year, but slowing growth in the second quarter has prompted the World Gold Council (WGC) to lower its outlook for the rest of the year.
Read more »
Indian gold demand remained firm in Q2 2022(Kitco News) - Gold demand was 43% higher in Q2 with wedding and festive buying cited as the main reason for the increase. In numbers, gold imports jumped 34% to 170 tonnes, while recycling increased 18% to 23 tonnes. Gold demand in the June-ended quarter was up 43% to 171 tonnes against 120 tonnes reported in the same period last year on the back of buying for wedding and festival season.
Read more »
Africa-focused gold miner Perseus ups gold production 50% to 494,014 ounces in FY2022A roundup of all the mining news in the precious metals sector with a variety of company news, mining sector analysis, newsletter writer insights and executive interviews.
Read more »
Fed's upcoming rate decision is the moment gold price is waiting for – analysts
Read more »
Gold price holding steady as U.S. durable goods orders rise 1.9% in June(Kitco News) - The gold market remains stuck in neutral, holding solid support above $1,700 an ounce even as the U.S. manufacturing sector sees strong-than-expected activity in June.
Read more »
Perth Mint sees solid global demand for gold, silver bullionKitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals prices
Read more »