• 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 prices tumble over rising U.S dollar

Olumide Adesina by Olumide Adesina
February 4, 2021
in Commodities, Spotlight
gold, Gold fast losing the battle to Bitcoin
Share on FacebookShare on TwitterShare on Linkedin

Gold prices drifted lower at the fourth trading session of the week, as global investors weighed the soaring value sighted in the U.S dollar.

At the time of drafting this report, gold futures traded $1,826/ounce losing about 0.50% in value amid a social media-driven rally that was in play in the past few days.

The U.S dollar which normally moves inversely to the precious metal was at its highest levels in over two months on Wednesday and thus kept its bullish run, taking into account the U.S dollar index was up by 0.23% to trade at 91.315 index points.

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: Gold fast losing the battle to Bitcoin

In addition, the Benchmark 10-year  U.S Treasury yield also rose to its highest point in more than three weeks.

Stephen Innes, Chief Global Market Strategist at Axi in a note to Nairametrics spoke on prevailing macros weighing on the precious metal in the near term;

“Gold has relinquished its January seasonality boost. With Chinese physical demand getting balloted down due to the LNY mobility restrictions, the market remains a seller on rally environment. Gold trade flat overnight as FX market did little to show the way.”

READ: Kenya’s biggest telco is losing market share, and it’s all political

“The long positioning in silver seems to have been reduced pretty quickly after the spike on Monday, with the metal having now gone from $25 to $30 and back to $27. Gold seems to have been dragged back to the bottom of its range for the past few weeks.”

What to expect: Gold traders, however, stay resolute. on this account, the U.S dollar remains prone to a significant amount of inflationary measures. As long as gold stays above $1800 that argument should continue to hold.


Follow us for Breaking News and Market Intelligence.
Tags: Chief Global Market StrategistGoldStephen InnesU.S. dollar
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
Gold
Commodities

Gold on a rampage for 7th straight week

February 14, 2025
U.S. President’s trade tariff threat increases Bitcoin,Gold appeal
Commodities

Gold hit a new high, Bitcoin falls below $100K again 

February 5, 2025
Next Post

2020 FY results: Presco Plc post 83% growth in profits

Leave a Reply Cancel reply

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

first bank








DUNS

Recent News

  • FG to host International Air Show in Abuja in December 
  • Use of jamming systems can address challenges posed by insurgents in Nigeria – Bright Echefu
  • Governor Mbah approves appointment of six commissioners, new head of service in Enugu state

Follow us on social media:

Recent News

Festus Keyamo,

FG to host International Air Show in Abuja in December 

July 17, 2025
Use of jamming systems can address challenges posed by insurgents in Nigeria – Bright Echefu

Use of jamming systems can address challenges posed by insurgents in Nigeria – Bright Echefu

July 17, 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