Gold futures are posting slight gains on Tuesday as global stock markets are getting battered. Investors, who are ostensibly making a
December gold futures rose $2.60, or 0.22%, to $1,191.40 per ounce at 15:18 GMT on Tuesday. The yellow metal, which etched out a weekly gain last week, has been in negative territory on the year since April, down 10.3%
The sister commodity to gold is looking to post a rally as December silver futures tacked on $0.05, or 0.35%, to $14.38 per ounce. Last week, silver was flat and has plunged 15% so far this year.
Traders poured into the traditional
Plus, matters were not helped when the International Monetary Fund (IMF) slashed its global economic forecast for 2018 and 2019, blaming sluggish growth on the international trade dispute.
Gold prices edged up on the losses and bearish predictions, but they were capped by a stronger US dollar as the greenback jumped 0.13% to 95.88. A strengthening buck, advancing about 3% in 2018, is bad for
The market is beginning to pencil in one more rate hike this year by the Federal Reserve. According to the CME Group FedWatch tool, there is an 83% chance of the US central bank raising interest rates in December by at least a
In other metal markets, December copper futures climbed $0.015, or 0.55%, to $2.78 a pound. December platinum futures surged $8.90, or 1.09%, to $827.20 per ounce. December palladium futures slipped $3.80, or 0.36%, to $1,065.10 an ounce.
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