Stock futures slide while gold and silver jump
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Gold prices rise after the latest U.S. data showed the pace of inflation held steady in December. Futures in New York rise 0.4% to $4,633.30 a troy ounce, while spot gold climbs 1.9% to $4,597.65 an ounce.
Gold and silver face sharp declines as commodity index rebalancing triggers billions in futures sales. Citigroup estimates $6.8B in silver liquidation alone Jan 9-15.
Gold futures soared above $4,600/oz for the first time Monday, driven by investor concerns over threats to the independence of the U.S. Federal Reserve following Chairman Powell's revelation of a criminal indictment by U.S. prosecutors.
Gold and silver futures settled at new records in reaction to the DOJ criminal investigation into Jerome Powell — which sparked a retort from the Fed Chair that set the stage for a prolonged battle over the future of the board and interest rates.
Gold prices witnessed sharp intraday swings in the domestic futures market on January 13, as traders booked profits following a strong rally that pushed preciou
Silver and gold futures are falling sharply after the Chicago Mercantile Exchange, one of the world’s largest trading floors for commodities, required traders to put up more cash to invest in precious
Prices climbed to a record as a criminal probe into Jerome Powell revived concerns over the central bank’s independence, and protests in Iran boosted safe-haven demand.
Gold edged higher on Tuesday for another record as markets firmed up bets on US interest rate cuts after the release of new inflation data.
Gold gained 1.6% to $4,387.57 an ounce at 12:42 p.m. in London. The Bloomberg Dollar Spot Index was up 0.1%. Silver advanced 3.1% to $73.88, while palladium and platinum also rose. Trading was expected to be thin given that several major markets, including Japan and China, remain on holiday.
Get the LIVE 22-carat and 24-carat & 18K gold price today (Jan 13) in Delhi, Mumbai, Bengaluru, Chennai, Kolkata, and all major Indian cities. Check daily rate fluctuations on ABP News.
US prosecutors have opened an inquiry into Federal Reserve Chair Jerome Powell, prompting a rare rebuke from the central bank chief against escalating pressure from Donald Trump's administration as th