NYSEARCA:DGP

Db Gold Double Long Etn ETF News

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$164.80
+2.16 (+1.33%)
At Close: Jun 04, 2026
With increasing expectations of rate cuts and potential dovish signals from Powell, the dollar may face further selling pressure in the coming days.
Gold is losing ground amid broad pullback in precious metals markets.
Precious metals traders bet on a less hawkish Fed after the release of Non Farm Payrolls and Unemployment Rate reports.
Gold and silver futures looked to post their highest settlements in a month on Friday as downbeat U.S. economic data fueled expectations for an interest-rate reduction by the Federal Reserve.
Unemployment Rate increased from 4% in May to 4.1% in June.
Gold markets are calm as traders wait for catalysts.
Treasury yields declined after the release of weak ISM Services PMI report, providing support to precious metals.
Lower business activity, contraction in new orders, and continued contraction in employment pushed the ISM Services PMI index into the contraction territory.
Gold has been one of the best-performing global assets of 2024, with central banks driving significant demand.
Fed Chair's dovish comments did not provide support to gold and silver markets.
Earlier, Fed Chair Powell noted that prices were showing disinflation trend.
Gold needs additional positive catalysts to climb above the $2350 level.
The manufacturing sector contracted for the third consecutive month.
A report released by the World Gold Council in June found that central banks added the second most gold reserves on record in 2023 as analysts see a potential price surge.
Gold steadied following a key U.S. inflation report that aligned with expectations, increasing hopes for a Federal Reserve rate cut by September.
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