Gold news by day
Gold closed at about $4,173, up $2 (0.04%) on the day.
What moved it
The verdicts are the textbook reading of the news, not a forecast. Closing prices are spot gold at about 5pm New York time, from our price feed, and may differ slightly from other sources.
Gold rises as dollar falls to two-week low after comments from Warsh
Why: Dollar weakens on Warsh remarks suggesting softer Fed policy, lower rate-hike odds directly support gold prices.
Gold $4,179.30
🕒 Fri 16 Oct · news 05:33 UK
Education only. Gold doesn't always react the same way. Not financial advice.
Gold about $4,170, about flat since the US close on Thu 15 Oct
📰 What happened
🟢 Gold rose about 1.6% on Thu 15 Oct to about $4,170. US bond rates (yields) and the dollar fell.
🔴 US factory-gate prices (PPI) jumped 6.3% in a year. About 5.3% to 5.4% was expected. Energy drove most of it.
⚪ US shoppers spent 0.8% more (retail sales) vs 0.3% expected. But most of it was fuel. Core spending (the control group) rose just 0.1%.
⚪ Fed Chair Warsh spoke in Bangkok early on Fri 16 Oct. He gave no hint on the next rate move.
🔴 Oil fear: Hormuz shipping still disrupted and Houthi attacks on Saudi Arabia. Trump said the US may have to strike an Iran nuclear site. With the Fed fighting inflation, oil fear keeps rates high.
📅 Next 24 hours (Times: UK / New York)
10:00 / 05:00 Euro-area inflation, final reading (how fast prices rise) 🔥🔥 MEDIUM
Expected 3.8% (first estimate 3.8%)
🟢 if hotter | 🔴 if cooler (via the dollar)
14:15 / 09:15 US industrial production (output of factories, mines and utilities) 🔥🔥 MEDIUM
Expected +0.4% (prev 0.0%)
🟢 if weaker | 🔴 if stronger
📖 Gold lesson
Hot inflation does not always hurt gold. On Thu 15 Oct US factory-gate prices came in hot, but gold only dipped for a few minutes as bond yields kept falling. Gold often watches the interest rate on bonds more than the headline number.
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