{"id":14403,"date":"2023-08-25T09:24:08","date_gmt":"2023-08-25T09:24:08","guid":{"rendered":"https:\/\/isafespend.com\/investing\/gold-prices-notch-a-third-straight-session-climb\/"},"modified":"2023-08-25T09:24:08","modified_gmt":"2023-08-25T09:24:08","slug":"gold-prices-notch-a-third-straight-session-climb","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=14403","title":{"rendered":"Gold prices notch a third straight session climb"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002425628\" role=\"document\">\n<p>Gold futures on Tuesday tallied a third straight session climb \u2014 the longest consecutive daily rise since mid-July.  <\/p>\n<p>Moves in the U.S. dollar and Treasury yields continued to influence prices for the precious metal as investors await Friday\u2019s speech by Federal Reserve Chairman Jerome Powell at the Jackson Hole, Wyo., economic policy symposium.<\/p>\n<div class=\"paywall\">\n<h2>Price action<\/h2>\n<ul class=\"articleList\">\n<li>\n      Gold futures for December delivery<br \/>\n        GC00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210034565\/delayed\" class=\"negative\">-0.17%<\/bg-quote><\/p>\n<p>        GCZ23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210039381\/delayed\" class=\"negative\">-0.17%<\/bg-quote><br \/>\n       climbed by $3, or 0.2%, to settle at $1,926 per ounce on Comex. That marked the third in a row, the longest daily streak of gains for a most-active contract since the four-session rise ended July 14, according to Dow Jones Market Data.<\/p>\n<\/li>\n<li>\n      Silver futures for September delivery<br \/>\n        SI00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210315219\/delayed\" class=\"negative\">-0.06%<\/bg-quote><\/p>\n<p>        SIU23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/230611017\/delayed\" class=\"negative\">-0.06%<\/bg-quote><br \/>\n       added 11 cents, or 0.5%, to $23.45 per ounce. <\/p>\n<\/li>\n<li>\n      Platinum futures for October delivery<br \/>\n        PL00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210261555\/delayed\" class=\"positive\">+0.34%<\/bg-quote><\/p>\n<p>        PLV23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/237284959\/delayed\" class=\"positive\">+0.34%<\/bg-quote><br \/>\n       gained $12, or 1.3%, to $925.50 per ounce, while palladium futures for September delivery<br \/>\n        PA00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210237962\/delayed\" class=\"negative\">-0.01%<\/bg-quote><\/p>\n<p>        PAU23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/236560919\/delayed\" class=\"negative\">-0.01%<\/bg-quote><br \/>\n       added $25.70, or 2.1%, to $1,264.80 per ounce. <\/p>\n<\/li>\n<li>\n      Copper futures for September delivery<br \/>\n        HGU23,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210058691\/delayed\" class=\"positive\">+0.64%<\/bg-quote><br \/>\n       climbed 4 cents, or 1%, to $3.76 per pound. <\/p>\n<\/li>\n<\/ul>\n<h2>Market drivers<\/h2>\n<p>Most-active gold futures finished higher Tuesday, finding modest support as U.S. 10-year Treasury yields eased back a bit from their highest level since 2007. <\/p>\n<p>Analysts noted that gold prices are showing signs of stabilizing ahead of Federal Reserve Chairman Jerome Powell\u2019s speech in Jackson Hole later this week. <\/p>\n<p>\u201cPowell\u2019s intervention could create some volatility as traders monitor any hints over the developments in monetary policy in particular after the release of the Federal Reserve\u2019s minutes created some uncertainty,\u201d Wael Makarem, senior market strategist, MENA at Exness, said in emailed commentary. <\/p>\n<p>\u201cSubsequent economic data on the U.S. job market and on inflation could determine the next steps in monetary policy and could affect gold\u2019s performance,\u201d he said.<\/p>\n<p>On Tuesday, data from the National Association of Realtors showed that sales of previously owned homes fell by 2.2% to an annual rate of 4.07 million in July. <\/p>\n<p>Meanwhile, Treasury yields have slipped from 16-year highs on Tuesday, but remained near their highest levels since 2007. <\/p>\n<p>\u201cGold prices, in a relatively steep decline for the past month, are showing signs of stabilizing,\u201d Ole Hansen, head of commodity strategy at Saxo Bank, said in emailed commentary. <\/p>\n<p>The yield on the 10-year Treasury note<br \/>\n        BX:TMUBMUSD10Y<br \/>\n       was down 2.3 basis points  at 4.313% in Tuesday dealings after settling at 4.339% on Monday, the highest end-of-day level since Nov. 6, 2007, according to FactSet data. Meanwhile, the ICE U.S. Dollar Index<br \/>\n        DXY<span>,<\/span><br \/>\n       a gauge of the buck\u2019s strength against a basket of rivals, was up 0.2% at 103.539.  <\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/gold-headed-for-longest-win-streak-in-more-than-a-month-as-prices-rise-for-3rd-day-8eb21abe?mod=investing\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold futures on Tuesday tallied a third straight session climb \u2014 the longest consecutive daily rise since mid-July. Moves in the U.S. dollar and Treasury yields continued to influence prices for the precious metal as investors await Friday\u2019s speech by Federal Reserve Chairman Jerome Powell at the Jackson Hole, Wyo., economic policy symposium. Price action<\/p>\n","protected":false},"author":1,"featured_media":10431,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-14403","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Gold prices notch a third straight session climb | iSafeSpend<\/title>\n<meta name=\"description\" content=\"Gold futures on Tuesday tallied a third straight session climb \u2014 the longest consecutive daily rise since mid-July. 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