Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Commodities  >  Platinum       

PLATINUM
Mes dernières consult.
Most popular
Delayed Quote. Delayed  - 01/18 10:38:36 pm
1000.9 USD   +0.21%
02:53p LONMIN : Platinum miner Lonmin's lenders relax loan agreements again
01/17 Gold Prices Turn Up as Dollar Turns Down
01/17 Gold Prices Turn Up as Dollar Turns Down
SummaryQuotesChartsNewsAnalysis 
News SummaryAll newsTweets

Copper Rallies to Three-Year High

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/05/2017 | 05:19pm CET
By Amrith Ramkumar 

Gold prices continued rising Tuesday, as the latest U.S. response to a North Korea nuclear test and comments from a Federal Reserve official urging caution pushed investors toward the haven asset.

Gold for December delivery was recently up 0.9% at $1,342.00 a troy ounce on the Comex division of the New York Mercantile Exchange. Prices have risen to their highest level in almost a year recently as tensions between the U.S. and North Korea have escalated and many investors have become skeptical that the Fed will raise rates one more time this year amid sluggish inflation.

On Tuesday, President Donald Trump tweeted that he is allowing Japan and South Korea to buy "a substantially increased amount" of military equipment from the U.S. That came after South Korea warned Monday that North Korea appears to be preparing to test another intercontinental ballistic missile and U.S. Ambassador to the U.N. Nikki Haley called for "the strongest possible measures" against North Korea.

North Korea said it conducted a sixth and significantly larger nuclear test on Sunday. The tensions have supported gold in recent sessions since many investors favor the precious metal during times of geopolitical uncertainty.

Also on Tuesday, Fed governor Lael Brainard said in a speech that the U.S. central bank should be cautious about raising short-term interest rates further until policy makers are confident of overcoming the "persistent failure" to reach 2% inflation. The comments supported gold prices by adding to existing doubts about the Fed raising rates for a third time in 2017. Gold often struggles to compete with yield-bearing assets like Treasurys when borrowing costs rise.

"It's a perfect environment right now for gold to see some higher levels, " said Bob Haberkorn, senior market strategist at RJO Futures.

A weaker dollar also supported gold prices Monday, as the dollar-denominated metal becomes cheaper to foreign buyers when the U.S. currency falls. The WSJ Dollar Index, which tracks the dollar against 16 other currencies, was recently down 0.5%.

Among base metals, copper for December delivery was recently up 1.2% at $3.1555 a pound. Synchronized global economic growth has pushed prices for the industrial metal to three-year highs, and strong manufacturing data out of China -- the world's largest copper consumer -- last week has given copper its latest boost.

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on PLATINUM
02:53p LONMIN : Platinum miner Lonmin's lenders relax loan agreements again
01/17 Gold Prices Turn Up as Dollar Turns Down
01/17 Gold Prices Turn Up as Dollar Turns Down
01/16 HARMONY GOLD MINING : 1st Half FY18 Gold Production Higher Than in 2nd Half FY17
01/03 METALS : Gold Falls as Fed Considers Faster Pace of Rate Increases
01/03 METALS : Gold Rises as Investors Await Fed Minutes
01/03 Electric Cars Charge Up Cobalt -- WSJ
01/01 Miners Wager on a Charge in Demand for Canadian Cobalt
2017 ANGLO AMERICAN : Mining Deal Maker Labors in Frugal Era -- WSJ
2017 ANGLO AMERICAN : Mining World's Ultimate Deal-Maker Struggles in New Frugal Era
More news
Chart PLATINUM
Duration : Period :
Platinum Technical Analysis Chart | 4-Traders
Technical analysis trends PLATINUM
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral