Australia markets closed

Gold Aug 24 (GC=F)

COMEX - COMEX Delayed price. Currency in USD
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2,334.70-34.30 (-1.45%)
As of 04:59PM EDT. Market open.
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Pre. SettlementN/A
Settlement date2024-08-28
Last price2,369.00
Day's range2,329.20 - 2,382.60
  • Yahoo Finance Video

    Chip stocks soar, housing market struggles: Morning Brief

    On today's episode of Morning Brief, Hosts Brad Smith and Madison Mills break down the market open and some of the trading day's biggest stories. The S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) opened Thursday's trading session higher, while the Dow Jones Industrial Average (^DJI) hovered below its flat line. The tech sector continues to push the markets to new heights, as Nvidia (NVDA) has become the most valuable publicly traded company on the New York Stock Exchange. Meanwhile, Dell Technologies (DELL) has announced a new partnership with Nvidia to construct an AI factory for xAI, Elon Musk's artificial intelligence venture. In a parallel development, Musk indicated that xAI will also explore utilizing Super Micro Computer's (SMCI) server solutions. Meanwhile, new economic data releases painted a mixed picture of the labor market and housing sector in the United States. On the employment front, the number of initial jobless claims fell to 238,000 for the week ending June 15, coming in hotter than economists' expectations of 235,000. The housing sector also showed signs of strain, with both housing starts and building permits falling more than expected in May. Pulte Capital CEO Bill Pulte calls the print "a little bit of a speed bump" in an overall strong housing market. As the Swiss National Bank initiated its second interest rate cut this year, all eyes are on when the Federal Reserve will cut rates. JPMorgan US Head of Investment Strategy Jake Manoukian explains: "The Fed's going to join the party probably at some point this year. We're 90 days away from the September Fed meeting, traders are pricing in a 67% chance that that's the first cut." He adds that if a rate cut does not come in September, it will most likely come in December. This post was written by Melanie Riehl

  • Yahoo Finance Video

    Why Goldman Sachs suggests buying gold if Trump wins

    Goldman Sachs recently released a report pointing out that investors should buy gold to hedge against inflation if Donald Trump and Republicans sweep the 2024 election. This suggestion stems from the notion that some of Trump's proposed policies could worsen inflation. Yahoo Finance Senior Columnist Rick Newman joins Morning Brief to discuss the report from Goldman Sachs and what investors should keep in mind as election season heats up. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Nicholas Jacobino

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    Biden admin. is creating challenges for metal demand, miners

    Precious metal commodities, like gold (GC=F) and copper futures (HG=F), have seen record run-ups in 2024 alone. Barrick Gold (GOLD) CEO Mark Bristow comments on how the Biden administration has limited the growth of mining operators through regulatory constraints, saying "they've made it a lot more challenging" for the industry. He goes on to discuss the global picture for metals demand. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.