Dollar rises as Donald Trump scores second term
Markets are reacting today to the news that Donald Trump has secured a second term as President of the United States.
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Markets are reacting today to the news that Donald Trump has secured a second term as President of the United States.
Chancellor Rachel Reeves has announced Labour’s key fiscal policies, in the party’s first major Budget in 14 years.
Gold prices have retreated this week as the US dollar rallies on revised market expectations over rate cuts.
A significant escalation of the conflict in the Middle East has brought further volatility to commodity prices, pushing gold to new highs in major currencies yesterday.
Gold’s incredible rally in 2024 has progressed to the next stage, with prices continuing to rise this week and pushing gold in GBP to a new milestone of £2,000 per ounce.
Yesterday saw one of the year’s big fiscal events, and as expected the results were dramatic, pushing gold briefly above $2,600 per ounce for the first time.
Gold has pushed higher once again this week as markets continue to weigh up a perfect storm of geopolitical risks, fiscal policy, and economic concerns.
Gold prices remain relatively volatile this week, but a weaker US dollar is helping to keep gold above the historic $2,500 per ounce level.
Continuing it’s incredible year of record breaking, gold hit a new historic milestone Friday, breaching $2,500 per ounce spot price for the very first time.
Gold has tested record highs once again this week despite some choppy trading. A mixture of geopolitical and economic concerns is helping to support gold prices ahead of the key fourth quarter that could see further gains.
A brewing storm of market and geopolitical volatility continues to cause unusually high levels of price volatility for gold and silver. A stock market crash on Monday has for now stabilised but could be a sign of things to come.
Safe haven buying on fears over the escalating conflict in the Middle East have pushed gold and silver prices up once more and combined with renewed speculation on interest rates to give precious metals a strong recovery after last week’s sharp dip.
Gold and silver prices have rebounded from last week’s drop, with gold in particular finding support at $2,400. Silver has seen some recovery since falling last week but has failed to hold onto $30.
Gold is rallying yet again, and the previous all-time high in dollars is within touching distance.
Gold and silver still look well poised to push to further highs this year, with both metals seeing gains in the past week, and gold now back above $2,400 per ounce.
Labour have secured the expected majority to win the 2024 general election, removing the Conservatives from Downing Street after 14 years. As polls predicted, Sir Kier Starmer is now Prime Minister of Great Britain with 410 seats so far going to Labour.
Gold and silver prices continue to trade at similar levels seen throughout June so far, but market volatility remains with a whole host of factors driving uncertainty.
Gold and silver prices have stabilised so far this week after seeing a sharp drop in prices on Friday. With the latest US CPI report and Federal Reserve meeting taking place today however, there could be further price movement to come.
Gold and silver have seen a bumpy start to June, with both metals pulling back from recent highs as markets weigh up the likelihood of when the Federal Reserve will make their first cut.
Prime Minister Rishi Sunak has confirmed that the next UK general election will take place on Thursday July 4th, 2024. We look at some of the key things to consider surrounding the general election and what impact they could have on gold and silver.