• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Commodities

Gold settles at $1,985, records best monthly gain since 2016

Olumide Adesina by Olumide Adesina
August 1, 2020
in Commodities
Dollar, Gold soars above $1850, rises to 9-year high
Share on FacebookShare on TwitterShare on Linkedin

Gold futures recorded its best monthly (for July) gain in more than four years, settling +1% at $1,985.90/oz. after earlier breaking above $2,000 for the first in gold’s trading history.

July’s 10.3% gain showed the precious metal best monthly rise since February 2016.

Why is gold price rising; Gold price has gained about 30% so far in 2020, triggered by low-interest rates in many emerged markets that include Europe, Japan, and America. The widespread stimulus from global central banks has also helped in boosting the price of the safe-haven asset considered a bulwark against inflation and currency debasement.

RelatedStories

Gold

Gold hits record $3,500 as investors drop dollar amid fed controversy 

April 22, 2025
Gold

Gold breaks $3,300 mark, increases over 26% so far in 2025 amid weakened dollar and trade squabbles 

April 17, 2025

READ MORE: U.S dollar sheds some gains, stimulus measures weaken the greenback

Stephen Innes, Chief Global Market Strategist at AxiCorp in a note to Nairametrics explained the macros gold traders will have on their minds, especially in the coming week. He said;

“After a hectic week on the gold desk, traders are left taking inventory of a crazy week on the gold counter.

“I think gold investors are fully loaded and not reacting to any correlations (for example, the weaker dollar higher gold), which suggests to me that investors are marking time while institutional traders are going over the data logs to game plan for next week.”

READ: Whales move 100,000,000 USDT in less than 24 hours

He however exposed fundamentals favoring gold’s price on its present support level. He continued by saying;

“The gold market’s holy trinity is still in play, which is the Fed policy geared towards depressing real 10-year yields, the US dollar status a reserve currency in question, while the Covid-19 headline reel continues to spin.”


Follow us for Breaking News and Market Intelligence.
Tags: AxiCorpBusiness NewsCovid-19GoldGold futuresInterest Ratessafe-haven assetStephen Innes
Olumide Adesina

Olumide Adesina

Olumide Adesina is a financial market writer, analyst and investment trader. Message Olumide on Twitter @Olumidecapital

Related Posts

Gold
Commodities

Gold hits record $3,500 as investors drop dollar amid fed controversy 

April 22, 2025
Gold
Commodities

Gold breaks $3,300 mark, increases over 26% so far in 2025 amid weakened dollar and trade squabbles 

April 17, 2025
Gold
Commodities

Gold acts as investors refuge, best quarter since 1986

March 28, 2025
Gold
Commodities

Gold crosses $3k for the first time amid trade tensions and rate cut speculations

March 14, 2025
President Tinubu reacts to Port Harcourt Refinery revival, orders reactivation of Warri, Kaduna Plants 
Economy

Credit to private sector declined by N1.07 trillion in January amidst tightened interest rates  

March 2, 2025
Gold
Commodities

Gold on a rampage for 7th straight week

February 14, 2025
Next Post
Otunba Subomi Balogun, the octogenarian banking legend

Otunba Subomi Balogun, the octogenarian banking legend

Leave a Reply Cancel reply

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

Emple
nlng
first bank








DUNS

Recent News

  • U.S. Embassy and Consulate in Nigeria to close on July 4 for Independence Day observance 
  • Gov. Alex Otti’s N50 billion Suit: Facebook user accused of defamation, court accepts key exhibits 
  • GTCO to list ordinary shares on London Exchange, targets global capital and higher market volume 

Follow us on social media:

Recent News

US says Nigerians overstaying their visas face permanent ban, criminal prosecution

U.S. Embassy and Consulate in Nigeria to close on July 4 for Independence Day observance 

July 3, 2025
Federal High Court, REA

Gov. Alex Otti’s N50 billion Suit: Facebook user accused of defamation, court accepts key exhibits 

July 3, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics