Gold Prices Trading Lower On The Back Of US Fed Inflation Fight News

By Lynnet Okumu / Published June 23, 2022 | 2:42 pm




KEY POINTS

Gold August futures were trading at 76,290.09 shillings per 10 grams. Silver July futures were ruling at 90,430.58 shillings per kg, down 706.28 shillings or 0.8 percent


Gold

KEY TAKEAWAYS


Other metals such as Copper are underperforming at -0.87 percent, while the Nikkei 225, ASX, and Shanghai Composite all traded higher overnight at 0.08, 0.31percent, and 1.50 percent respectively.


Gold and Silver are trading lowest at -0.21p percent and -0.33 percent respectively on Thursday, June 23rd, 2022, on the back of weak global cues after US Fed chair Powell reaffirmed the inflation fight.

On Multi Commodity Exchange, gold August futures were trading at 76,290.09 shillings per 10 grams. Silver July futures were ruling at 90,430.58 shillings per kg, down 706.28 shillings or 0.8 percent

Globally, the yellow metal prices were a touch lower with some support from a weaker dollar and U.S Treasury Yields after the Federal Reserve’s head said the central bank was fully committed to reining in inflation and would try not to spark a recession in the process.

Spot gold was down 0.1percent at 216,174.87 shillings per ounce while U.S. gold futures also inched 0.1 percent lower to 216,323.70 shillings.

According to market experts, gold prices are expected to trade in the current range with a lack of fresh triggers. They have projected that gold prices will trade sideways to up for the day with COMEX Spot gold support at $1820 and resistance at $1850 per ounce.

Other metals such as Copper are underperforming at -0.87 percent, while the Nikkei 225, ASX, and Shanghai Composite all traded higher overnight at 0.08, 0.31percent, and 1.50 percent respectively.

Today Gold Price in Kenya is 6,931.8 shillings per Gram. 10 Grams Gold Rate is 69,317.5 shillings

Today’s Gold Prices in Kenya:






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