economictimes.indiatimes.com Open in urlscan Pro
2a02:26f0:64:6b2::216f  Public Scan

Form analysis
0 forms found in the DOM

Text Content

Benchmarkslive
Nifty17,907.65-7.40
FEATURED FUNDS
★★★★★
Axis Nifty 50 Index Fund Regular - Growth
1Y Return
4.29 %
Invest Now
FEATURED FUNDS
★★★★★
Axis Midcap Fund-Growth
5Y Return
13.22 %
Invest Now
Search for Tata Consul|


News
English EditionEnglish Editionहिन्दीગુજરાતીमराठीবাংলাಕನ್ನಡമലയാളംதமிழ்తెలుగు
| Today's Paper
Sign In
Special Offer on ETPrime

Home
ETPrime
Markets

News

Industry

Rise

Politics
Wealth

Mutual Funds

Tech

Careers

Opinion

NRI

Panache

ET NOW

More

India
Decoded
Web Stories
Morning Brief Podcast
Newsblogs
Economy
Agriculture
Finance
Foreign Trade
Indicators
Infrastructure
Policy
Industry
Politics
Company
Corporate Trends
Defence
NationalInternationalIndustry
More
InternationalCanada NewsUK NewsUS NewsUAESaudi ArabiaBusinessWorld NewsET
EvokeElectionsLok SabhaAssembly ElectionsKarnatakaSportsScienceEnvironmentET
TVLatest NewsMost ReadMost SharedMost Commented

Business News›News›International›Business›Gold pulls back after brief run to
$2,000 on US banking woes



THE ECONOMIC TIMES DAILY NEWSPAPER IS AVAILABLE ONLINE NOW.

Read Today's Paper


GOLD PULLS BACK AFTER BRIEF RUN TO $2,000 ON US BANKING WOES

SECTIONS
Gold pulls back after brief run to $2,000 on US banking woes
ReutersLast Updated: Apr 26, 2023, 11:37 PM IST
Synopsis


SPOT GOLD FELL 0.6% TO $1,985.80 PER OUNCE BY 12:25 P.M. EDT (16:25 GMT) AFTER
JUMPING AS HIGH AS $2,009.32 EARLIER. U.S. GOLD FUTURES SLIPPED 0.4% TO
$1,996.20.

Gold declined despite the dollar shedding 0.4%, while investors also took stock
of upbeat risk sentiment driven by strong earnings.
Gold eased back on Wednesday as yields recovered with the focus returning to
upcoming economic data, after briefly breaking above $2,000 spurred by fresh
worries surrounding the U.S. banking turmoil.

Spot gold fell 0.6% to $1,985.80 per ounce by 12:25 p.m. EDT (16:25 GMT) after
jumping as high as $2,009.32 earlier. U.S. gold futures slipped 0.4% to
$1,996.20.

First Republic Bank's shares hit a record low after a report said the U.S.
government was unwilling to intervene in the rescue process for the troubled
lender.
"That was the catalyst for gold prices to revisit slightly higher levels," said
Daniel Ghali, commodity strategist at TD Securities.

But overall, trend-following algorithms have effectively reached their maximum
long positions, Ghali added.

Benchmark U.S. Treasury yields recovered from a near two-week low, raising the
opportunity cost of holding zero-yield bullion.



Gold declined despite the dollar shedding 0.4%, while investors also took stock
of upbeat risk sentiment driven by strong earnings.




Traders were now focused on U.S. quarterly GDP data due on Thursday, followed by
the core personal consumption expenditures index on Friday, the Fed's preferred
inflation gauge.

Markets had priced in about a 3-in-4 chance of the U.S. central bank raising
rates by 25 basis points at its May 2-3 meeting.

Those odds were lower due to "resurgent fears that there's always more than one
cockroach when it comes to the U.S. regional banking crisis," Ghalli said.

Safe-haven gold scaled an over one-year peak at $2,048.71 mid-April as the U.S.
banking crisis unfolded.

"Retail, discretionary traders and the like remain very underexposed, a source
of dry powder, especially if the market ramps up rate cut expectations," said
Paul Wong, market strategist at Sprott Asset Management.

Silver was down about 1% to $24.8 an ounce, platinum gained 0.2% to $1,088.50
and palladium rose 1.9% to $1,511.23.


Don’t miss out on ET Prime stories! Get your daily dose of business updates on
WhatsApp. click here!






READ MORE NEWS ON

gold pricesgoldyellow metalus banking crisisstock marketscentral bank
(Catch all the Business News, Breaking News Events and Latest News Updates on
The Economic Times.)

Download The Economic Times News App to get Daily Market Updates & Live Business
News.

...moreless


Trending World News

 * Asteroid City TrailerThe Mandalorian Season 3 Episode 5World Piano Day
   2023National Vietnam War Veterans Day
 * Legend of Zelda: Tears of the KingdomJujutsu Kaisen Season 2Paul O'Grady
   DeathUS weather forecast today
 * Wordle TodayQuordle Today



LATEST FROM ET

 * Gap between private and public sector wage bills widens further
 * Govt not keen on higher import duty for steel
 * India for expanding scope of AEOI on non-fin assets





Trending Now

Tech Mahindra Q4 ResultsSensex TodayGold Price TodayBajaj Finserv Q4 ResultsHUL
Q4 ResultsWipro Q4 ResultsBajaj Finance Share PriceMankind Pharma StocksMaruti
Suzuki Q4 ResultsMankind Pharma IPO Subscription StatusIndia Covid Cases
TodayKarnataka Assembly Elections Livenikhil KamathChandan Ram DasChhattisgarh
Maoist attackAnand Mohan SinghMukesh Ambani

Popular Categories

IndiaDecodedWeb StoriesMorning Brief
PodcastNewsblogsEconomyIndustryPoliticsCompanyDefenceInternationalET
EvokeElectionsSportsScienceEnvironmentET TVLatest News

Hot on Web

Tech Mahindra Q4 ResultsSensex TodayIndia Covid Cases TodaySame-Sex Marriage
News LiveArvind kejriwal newsChandan Ram das DeathChhattisgarh Maoist
attackDelhi Mcd Mayor ElectionIndian cricket teamParkash Singh Badal Death
NewsSudan newsnikhil KamathAmritpal SinghParkash Singh badal NewsSalman Khan Eid
PartyHow to Check UP Board Result 2023Mamukkoya Death News

In Case you missed it

Sensex TodayBajaj Finserv Q4 ResultsIndia Covid Cases TodaySame-Sex Marriage
News LiveArvind kejriwal newsChandan Ram DasChattisgarh Maoist AttackAvaada
Group fundingWordle TodayQuordle TodayWhatsApp MemesWatermelon
BenefitsAgeingApple Store Employees SalaryWomen Office WearAnand Mohan
SinghIndia covid cases

Top Calculators

Standard Deviation CalculatorIncome Tax CalculatorAge CalculatorTime
CalculatorBMI CalculatorGPA CalculatorStatistics CalculatorFraction
CalculatorDiabetes Risk CalculatorDate CalculatorLog Calculator

Top Searched Companies

Leadmini RateAdani Ent. Share PriceAdani Power Share PriceAdani Ports SEZ Share
PriceAdani Green Share PriceTata Motors Share PriceRIL Share PriceSBI Share
PriceYES Bank Share PriceTata Steel Share Price

Top Definitions

Mapsko Builders Private LimitedProductFpoRepo RateCurrency Symbol

Top Commodities

Gold RateMenthaoil RateSilver RateCopper RateAluminium Rate

Top Market Pages

Fully Drawn Advance

Top Prime Articles

Nippon India Fund DirectMens Underwear Sales Are Falling Should Indian Economy
Prepare For A Below The Belt JoltAfter Adani Stocks Hindenburg May Have Crashed
Into Indias Green Hydrogen Mission TooIs Nifty Next 50 A Good Bet Only If You
Are A Super Long Term InvestorReliance Jiocinema Is Streaming Ipl 2023 For Free
Will This Now Disrupt The Ott BusinessIndian It Companies Rode The Cloud Wave As
Hyperscalers Growth Tapers How Will It Impact ThemNo 5g Service Lack Of Fresh
Funds Could Further Hurt Vodafone Idea Even As Airtel Jio Leap AheadAdani Group
Stocks Will Averaging Out Work For Retail InvestorsWe Want To Solve The Wazirx
Binance Issue Once And For All Nischal ShettyFalling Off The Momentum Why Retail
Investors Are Losing Money After Witnessing A Long Rally

Top Story Listing

DangalStock Market CrashEarthquake TodaySgx NiftyTcs Layoffs

Top Slideshow

How Rajendra Badwe Is Making Cancer Treatment Affordable By Repurposing Easily
Available DrugsStock IdeasAxis BankIcici BankRaw VegetablesHow Rajendra Badwe Is
Making Cancer Treatment Affordable By Repurposing Easily Available DrugsStock
IdeasAxis BankIcici BankRaw Vegetables

Top Trending Topics

Market Opportunity Worth Usd 50 Bn Exists For Clean Energy Powered Livelihood
Appliances Highlights ReportAdani GroupRape Videos11 Year Old Girl Rape
CaseZombie Virus

Top Videos

Delhi RiotsGoogle Celebrates Bubble Tea With Interactive Doodle Make Your Own
Digital Bubble TeaPk Rosy Google Honours First Female Lead In Malayalam Cinema
With A DoodleCaught On Camera 5 Year Old Child Bitten To Death By Street Dogs In
HyderabadPathaan Box Office Collection Shah Rukh Khan Starrer Movie Collects Rs
429 Crore Worldwide In 4 DaysDecoding Epfos New Guidelines How You Can Apply For
Higher Pension NowValentines Day Google Celebrates February 14 The Most Romantic
Day Of The Year With Animated DoodleAdani Enterprises Fpo Fully Subscribed Group
Survives Hindenburg Attack With Nii SupportGoogle Bard Vs Chatgpt Who Will Win
The Ai Chatbot RaceFundamentals Of Our Company Are Very Strong Our Balance Sheet
Is Healthy And Assets Robust Gautam Adani After Fpo Call Off

Private Companies

Pyramid Saimira Theatre Ltd Share PriceS V Industries Pvt LtdDreamplug
Technologies Private LimitedMebigo Labs Private Limited

Popular Articles

Noted Stock Market Analyst Ashwani Gujral Passes Away ReportRs 67 Crore Profit
Nandan Nilekani Family Trust To Mint 370 Return In IpoAdani Issue Will Move Into
Rear View Mirror And May Already Have For The Broader Market Mark
MatthewsCarlyle Aviation Partners To Pick Up 7 5 Stake In SpicejetWhen Will Lic
Snap Out Of Adani Induced Decline Deepak Shenoy AnswersRs 10 Lakh Crore Gone 10
Factors Why Sensex Is Down 2400 Points In 7 DaysIndia Likely To Miss 2030
Deadline For Over Half Of Health Sdgs Lancet StudyA Second Half Stock Market
Rally Is Still In Play Despite RoutEpfo Allows These Eps Members To Apply For
Higher Pension Till May 3 Opens Online Application LinkZeel Shares Slump 10
Despite Nclat Relief Heres Why

Most Searched Articles

Psu Banks Now Offer Inflation Beating Fd RatesWhy Is Dr Doom Nouriel Roubini So
Upbeat About Indias EconomyTo Keep Vi Going Vendors Keep Their Demands In
CheckWill Epfo Extend Last Date To Apply For Higher Pension Under Eps For
Eligible EmployeesVedanta May Have A Fair Chance To Run Sterlite Plant Again
Sunil Duggal Group Ceo Vedanta LimitedEpfo Issues Guidelines For Higher Pension
In Eps 95Medha Alstom Shortlisted Bidders For Making 100 Aluminium Vande Bharat
TrainsRs 38000 Crore Play Fiis Bet Big In 6 Sectors In Last 6 Months Will The
Trend ContinueIndia Facing Possible Enron Moment Says Larry Summers On Adani
CrisisAdani Stock Rout Lic Staring At Loss In Rs 30000 Crore Bet

Trending Articles

Demerger Of Nmdc Steel How Should Investors Approach The StockHolika Dahan 2023
Know The Date Shubh Muhurat Puja Vidhi And Significance Check DetailsAs Isis
Bride Shamima Begum Loses Uk Citizenship Battle Know What Happened To Her
Friends Kadiza Sultana And Amira AbaseAdenovirus Infection Symptoms And Other
Key Details About Mysterious Flu That Is Severely Affecting Kids In West
BengalDont Lose Sleep Over Stock Prices Nifty Adani Saga Saurabh Mukherjea

ET Verticals

Auto NewsRetail NewsHealth NewsTelecom NewsEnergy NewsIT NewsReal Estate
NewsMarketing & Advertising NewsTechnology NewsCFO NewsIT Security News

More from our network

Pune MirrorBangalore MirrorAhmedabad MirrorItsMyAscentEducation TimesBrand
CapitalMumbai MirrorTimes NowIndiatimesमहाराष्ट्र टाइम्ವಿಜಯ ಕರ್ನಾಟಕGo GreenAdAge
IndiaEisamayIGN IndiaIamGujaratTimes of IndiaSamayam TamilSamayam TeluguMiss
KyraBombay TimesFilmipopMX PlayerNewspaper SubscriptionTimes PrimeColombiaNBT
Gold PodcastEi Samay Gold PodcastMX ShareKaro AppMX TakaTak App

Other useful Links

About UsArchiveSubscribe to ET PrimeBook your Newspaper SubscriptionCall 1800
1200 004 (Toll Free)Create Your Own AdAdvertise with UsTerms of Use & Grievance
RedressalPrivacy policyContact Us
Company Name: Times Internet Limited
Registered Office Address: 9-10,Bahardurshah Zafar Marg, New Delhi - 110002
Corporate Identity Number: U74999DL1999PLC135531
Customer Support Team: care@etprime.com
Grievance Officer: Deepak Ajwani
Email: grievance.et@timesinternet.in
RSSDNPA Code of EthicsDo not sell my infoDelete DataLongwalks App

Copyright © 2023 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint
rights: Times Syndication Service



Stories you might be interested in

Subscribe to ourET Investment Opportunities
SUBMIT
BACK TO TOP
X
Contact Us

Loading
Please wait...