Skip to main content
  • Buy
  • Sell
  • Bars vs Coins
  • Contact Us
0 items - £0.00
Logo

Average Rating

4.8
Logo Logo Logo Logo Logo

0207 117 2889

Free Insured Delivery

Bullion House

Sign In / Register

Order online 24/7

  • Gold
    • All Gold
    • Gold Coins
    • Gold Bars
    • Certified Gold
    • Collectables
  • Silver
    • All Silver
    • Silver Coins
    • Silver Bars
    • VAT Free
  • Platinum
    • All Platinum
    • Platinum Coins
    • Platinum Bars
    • VAT Free
  • Pensions
  • Delivery
  • Storage
  • Sell
  • PCGS VS NGC
  • Bitcoin vs gold
  • Contact Us

0207 117 2889

Free Insured Delivery

£

€

$

Metal Ounce Gram
Gold £1,484.74 £47.74
Silver £17.15 £0.55
Platinum £792.31 £25.47
Palladium £1,767.46 £56.83

Updated 13/08/2022 @ 7:07 pm

Charts
Metal Ounce Gram
Gold €1,756.65 €56.48
Silver €20.29 €0.65
Platinum €937.41 €30.14
Palladium €2,091.14 €67.23

Updated 13/08/2022 @ 7:07 pm

Charts
Metal Ounce Gram
Gold $1,802.74 $57.96
Silver $20.82 $0.67
Platinum $962.00 $30.93
Palladium $2,146.00 $69.00

Updated 13/08/2022 @ 7:07 pm

Charts
Free Investment Guide

Rated 4.8

Gold rebounds after steep sell off as dollar rally stalls


PUBLISHED SUN, JUN 20 202110:49 PM EDTUPDATED MON, JUN 21 20212:11 PM EDT

Gold on Monday clawed back some losses from its biggest weekly percentage drop since March 2020, as a pause in the U.S. dollar’s rally helped restore the metal’s allure.

Spot gold was up 1.1% at $1,782.83 per ounce by 1:48 p.m. EDT (1748 GMT), while U.S. gold futures settled up 0.8% at $1,782.90.

“People are using the correction to buy gold, at these price levels, there is value to hold positions in gold, especially for the long run,” said Phillip Streible, chief market strategist at Blue Line Futures in Chicago

Gold prices fell 6%, or $113 an ounce, last week as the U.S. Federal Reserve signaled it would soon start tapering its asset purchases and could start raising interest rates in 2023.

But the dollar index has retreated from 2-1/2-month highs, prompting investors to turn to gold, which fell for six straight sessions before Monday’s bounce.

U.S. 10-year Treasury yields also rose from a four-month low, raising non-yielding bullion’s opportunity cost. .

Bank of America Global Research said that given a more hawkish Fed, the risk of rising real rates would keep gold prices capped into the end of the year.

Streible, however, predicted gold would drift above $1,800 an ounce, citing an “overbought” dollar, the Fed’s continued bond purchases and interest rates that will not rise anytime soon.

Market participants will listen now to congressional speeches from a number of U.S. central bank officials, including Fed Chair Jerome Powell, who is due to speak on Tuesday.

In other precious metals, platinum rose 2.5% to $1,060.05 per ounce, while palladium climbed 4.5% to $2,575.24 after tumbling more than 11% last week.

Global palladium markets have been in deficit this year due to rebounding economic growth and tighter emissions standards that boosted demand from automobiles. Another negative factor has been supply glitches at Russia’s Nornickel.

Analysts at trading firm Heraeus said, however, that supply chain disruptions in automobiles could ease the tightness in palladium markets.

Elsewhere, silver rose 0.6% to $25.95 an ounce.

Related Articles


Gold, Silver today: Rate of precious metals on a surge
25.05.2021
Read More
Is it time to top up on gold? Or should you wait for a better opportunity?
13.05.2021
Read More
It’s not bitcoin ‘or’ gold, but bitcoin ‘and’ gold
02.04.2021
Read More
Logo

Useful Links

  • About Us
  • Free Investment Guide
  • How to Buy Gold
  • Guide to Investing
  • Buy
  • Sell
  • Privacy Policy
  • Cookie Policy
  • FAQ’s
  • Terms & Condition
  • Latest News
  • Contact Us
  • Trusted Partners & Suppliers
  • Storage
  • Delivery
  • Refer a Friend
  • Corporate Investors & Institutions
  • Best Sovereign Reference
Subscribe to our Newsletter
© Bullion House 2022. All rights reserved.
Web Design by Xanda Ltd

Not found what you were looking for?

Get in touch today and our team can help.

EmailPhone

Cookie use

Our site uses cookies to manage performance, advertise, and provide the best shopping experience. By continuing to browse the site you are agreeing to the use of cookies. To find out more about our cookie policy click here

Accept

Shop

Invest

Guide