RateCaptain
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Subscribe
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us
No Result
View All Result
Rate Captain
No Result
View All Result
Home Commodities

Gold Price Increase By 0.19% in The Commodity Market

Rate Captain by Rate Captain
November 2, 2021
in Commodities, Economics
Reading Time: 1 min read
A A
0
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

AlsoRead

CBN Issues Regulatory Guidelines for Open Banking in Nigeria to Ensure Financial Inclusion

Ghana begins the purchase of the Yellow Metal in a bid to strengthen its currency

Chicago Federal Reserve Bank Pushes Shallower Rate-hike Path

The price of Gold dwindled on Tuesday morning, With the dollar gain in the forex market reducing the value of the yellow metal. Commodity market investors are anticipating the effects of monetary policies from the most distinguished central banks, as inflationary pressure continues to ravage major economies.

Gold futures edged down 0.19% to $1,792.40 by 11:19 PM ET (3:19 AM GMT). The dollar, which normally moves inversely to gold, inched up on Tuesday.

The United States Federal Reserve will disclose its latest policy on Wednesday the 2nd November 2021. The task of suppressing surging prices and wage increase  will be the center of attraction at the policy meeting, as the feds seek to stabilize the economy and restore lost jobs due to the COVID-19 pandemic.

Goldman Sachs forecast that predicts that the Federal Reserve will increase by July 2022, which is a year earlier than its initially forecasted date. This is due to expectation that inflation will maintain its increasing trend.

On the other hand, The Bank of England will reveal its policy on Thursday, in what could be its most unpredictable interest rate decision in years. Investors are mulling the chances of the central bank announcing its first interest rate hikes since the beginning of the COVID-19 pandemic.

 

Data from the U.S. Institute of Supply Management (ISM) manufacturing purchasing managers index (PMI), released on Monday, was 60.8 in October, The manufacturing PMI was lower-than-expected 58.4.

Previous Post

Nigeria Branches Closed 234 Branches – IMF

Next Post

CBN Urged To Enlighten Nigerians On E-Naira

Related News

CBN Issues Regulatory Guidelines for Open Banking in Nigeria to Ensure Financial Inclusion

by Rate Captain
May 19, 2022
0

The Central Bank of Nigeria has issued the regulatory framework for Open Banking in Nigeria in its efforts to enhance...

Ghana begins the purchase of the Yellow Metal in a bid to strengthen its currency

Ghana begins the purchase of the Yellow Metal in a bid to strengthen its currency

by Rate Captain
May 19, 2022
0

Ghana has started the bulk purchase of the yellow metal-Gold, to raise the gold component of its reserves in a...

Chicago Federal Reserve Bank Pushes Shallower Rate-hike Path

Chicago Federal Reserve Bank Pushes Shallower Rate-hike Path

by Rate Captain
May 18, 2022
0

Chicago Federal Reserve Bank President Charles Evans said he supports moving to a shallower rate-hike path by July or September...

CBN say Nigeria would reap the benefits of a rising oil price

CBN say Nigeria would reap the benefits of a rising oil price

by Rate Captain
May 18, 2022
0

A rising oil price is considered to be beneficial to a major oil exporter like Nigeria. However, the Central Bank...

Next Post

CBN Urged To Enlighten Nigerians On E-Naira

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

MOMAN Debunks Rumor of Aviation Fuel Selling at N700 per Litre

Oil Marketers, Airlines reach loggerheads over local Aviation Price

May 20, 2022

Naira Depreciates at all Markets: Naira Hits N610/$1 at B2B Market

May 20, 2022

Popular Story

  • Sterling Bank to face sanctions by APCON over provocative Easter Message “Likening Christ resurrection with Agege Bread”

    Sterling Bank to face sanctions by APCON over provocative Easter Message “Likening Christ resurrection with Agege Bread”

    0 shares
    Share 0 Tweet 0
Rate Captain

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • FX Rates
  • Commodities
  • Money Market
  • Cryptocurrency
  • Corporates
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.