Why Gold moves
Gold fell slightly, moving against the S&P 500.
Written after the close on ·
Updated 07:00 with news that came after the close
Why today
16,413 news analyzed todayGold fell slightly, moving against the S&P 500.
The move was an ordinary-sized one for Gold, within its usual daily range.
Last session, the S&P 500 rose slightly while Gold dipped.
Traders likely reacted to the strong U.S. payrolls report, which lifted the dollar and bond yields.
Over the past five trading days Gold rose sharply, while the S&P 500 fell sharply.
Today's move of −0.94% was 1.2 times a normal day's 0.8%. S&P 500 moved +0.31% on the same day.
Gold −0.94%S&P 500 +0.31%Against the market
Earlier days
+4.63% market −2.70% Gold futures on COMEX rose sharply over the past five trading days, moving against a falling S&P 500. Read →
Gold futures on COMEX rose sharply over the past five trading days, moving against a falling S&P 500.
Gold futures gained after a rally driven by the U.S. midterm election result, which likely boosted demand for safe-haven assets.
Gold later pulled back on Friday as a strong U.S. payrolls report lifted the dollar and bond yields, which likely weighed on gold.
+0.59% market −4.41% Gold rose, moving against a sharp fall in the S&P 500. Read →
Gold rose, moving against a sharp fall in the S&P 500.
The rise was an ordinary-sized move for Gold.
Several items name Goldman Sachs trimming its gold price forecasts on a hawkish Fed outlook, which likely weighed on sentiment.
Over the last five trading days, Gold rose slightly.
−2.72% market −0.56% Gold Dec 26 fell clearly over the last five trading days, more than the S&P 500, which fell only slightly. Read →
Gold Dec 26 fell clearly over the last five trading days, more than the S&P 500, which fell only slightly.
The metal hit a one-year low late this week as a tech selloff spread and inflation worries kept rate-hike bets firm.
Gold also fell as higher oil prices fed fears of more pain ahead, and traders pulled back from safe-haven assets.
Gold is likely to stay sensitive to US interest-rate expectations and the next inflation and jobs data.
−0.49% market −0.38% Gold Dec 26 fell slightly. Read →
Gold Dec 26 fell slightly.
No company news explains the move, because gold futures have no single company behind them.
Gold usually responds to interest-rate expectations, the dollar and wider market sentiment.
Uncertainty over Federal Reserve rate policy and upcoming US inflation data likely weighed on gold.