Connect with us

International

PRECIOUS-Gold pares gains on firmer returns, bullish US earnings

 


(Redesign, add comments and update prices)

* Money hits a month high

* US dollar plunges as bonds stabilize

* Palladium jumps 4%

October 19 (Reuters) – Gold prices slashed gains on Tuesday, after rising more than 1% earlier, as their safe-haven appeal was hit by rising US Treasury yields and earnings optimistic American business.

Spot gold was up 0.3% at $ 1,769.94 an ounce at 1:31 p.m. ET (5:31 p.m. GMT). It rose up to 1.2% earlier in the session on a weaker dollar which makes precious metals cheaper for holders of other currencies.

US gold futures for December were up 0.3% to $ 1,770.5.

There isn’t much conviction in bullion at the moment, said Edward Moya, senior market analyst at brokerage OANDA.

We’re not sure if we’re going to see any major shifts on the part of the Federal Reserve. You see the rewards, for the most part, impressing, and this is the main driver in maintaining a strong appetite for risk.

Wall Street rose on Tuesday, helped by optimistic results from Johnson & Johnson and insurer Travelers.

Diminishing the appeal of gold, which is unproductive, benchmark 10-year US Treasury yields hit their highest level since early June at 1.6302%.

Market participants increasingly expect the Fed to start cutting back on asset purchases soon, as the earnings season has been encouraging so far and recent data has shown strong price increases at consumption in the United States.

The reduction in stimulus and interest rate hikes tend to drive up government bond yields, raising the opportunity cost of bullion.

Among other precious metals, platinum rose 0.6% to $ 1,041.50 an ounce and palladium jumped 4.2% to $ 2,100.15 an ounce.

Spot silver jumped 2.7% to $ 23.80 an ounce and hit a more than a month high.

With platinum and palladium likely aided by short hedging, the chip shortage is expected to potentially peak, UBS analyst Giovanni Staunovo said. If the data shows this to be the case, we should get some improvement on the auto production side. (Reporting by Amy Caren Daniel and Bharat Govind Gautam; Editing by Mark Potter and Ramakrishnan M.)

Sources

1/ https://Google.com/

2/ https://www.reuters.com/article/global-precious-idUSL4N2RF3F6

The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

ExBUlletin

to request, modification Contact us at Here or [email protected]