Gold fell on Wednesday as a modest recovery in the U.S. dollar outweighed safe-haven demand as markets awaited U.S. jobs data and comments from Federal Reserve Chairman Jerome Powell for clues on the U.S. central bank's policy outlook.
Spot gold fell 0.1% to $2,641.79 an ounce by 0902 GMT. U.S. gold futures fell 0.2% to $2,663.70.
The dollar index reflects strength that makes dollar-priced bullion more expensive for buyers using other currencies.
Traders see about a 74% chance of the Fed cutting interest rates by 25 basis points, according to CME Group's FedWatch Tool.
U.S. central bankers on Tuesday expressed confidence in declining inflation and signaled support for future rate cuts without committing to immediate action.
Non-yielding bullion's appeal increases when interest rates are low.
Spot silver fell 0.6% to $30.85 an ounce, platinum fell 0.4% to $949.65, and palladium fell 0.3% to $969.05.
Source: Reuters
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data promp...
Gold prices strengthened on Wednesday, supported by a weaker US dollar and falling US bond yields after the latest economic data reinforced the narrative that the Federal Reserve is likely to continue...
Gold experienced a slight correction in the European session on Tuesday (February 10th), but remained above $5,000/oz as the market held its breath ahead of a series of US data that could alter intere...
Gold held above the psychological $5,000 level at the start of the week, supported by a combination of factors that are "right" for the precious metal : physical demand from China, expectations of low...
Gold prices are still struggling to turn an intraday rebound into a sustained rally. After briefly falling to $4,654 (a four day low) and rebounding, prices were again rejected near $4,900. In the Eur...
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...