Update: Gold Rises as the Likely Reopening of the U.S. Government Whets Risk Appetites

Yahoo Finance47minutes ago

Express News | Spot gold has risen above USD 4,200 per ounce for the first time since October 21.

Breakings01:08

Commodities: The U.S. may re-release economic data, with gold prices rising nearly 2%.

The U.S. House of Representatives voted on whether to reopen the government or republish economic data, impacting the Federal Reserve's decision on whether to cut interest rates in December. Gold prices rose on Wednesday. Spot gold was up $72 or 1.8% at $4,198 per ounce. December gold futures climbed $82 or 2% to $4,198.3 per ounce. December silver futures surged 4.9% to $53.2 per ounce. December copper futures increased 1.1% to $5.12 per pound. January platinum futures advanced 2% to $1,631 per ounce. December palladium futures gained 2.1% to $1,504 per ounce.

AASTOCKS01:05

Gold and silver prices rose due to technical buying.

On Wednesday (November 12), gold and silver prices rose during the early U.S. trading session, with silver hitting a three-week high. The short-term technical outlook for gold and silver has recently turned more bullish, attracting technically driven speculators into the long positions of these two markets. The potential resumption of the U.S. government this week also provided support to the precious metals market. The return of U.S. economic data releases may pave the way for a Federal Reserve rate cut in December. Gold futures for December delivery (typically priced about a dozen dollars above spot gold) surged $57.8 during the session, reaching $4,174.1. Silver futures for December delivery climbed $1.756, settling at $52.

FX678 FinanceNov 12 23:39

Express News | Spot gold rose to touch USD 4,150, up 0.64% for the day.

BreakingsNov 12 23:11

Atlanta Fed President Bostic to Retire Ahead of Reappointment Process -- WSJ

WSJNov 12 23:02