Gold price (XAU/USD) trades with mild gains to around $2,625 during the early Asian session on Thursday. The uncertainties around Donald Trump's tariff policies, geopolitical risks, and central bank buying support the yellow metal. Nonetheless, the cautious stance of the US Federal Reserve (Fed) might cap the Gold's upside.
Traders awaited fresh catalysts that could influence the Fed's interest rate outlook this year. In December, Fed Chair Jerome Powell signaled a cautious stance on further rate cuts after delivering a 25 basis points (bps) reduction. This, in turn, could provide some support to the Greenback and undermine the USD-denominated commodity price.
The release of the US weekly Initial Jobless Claims on Thursday might offer some hints about the US labor market condition, On Friday, the US S&P Global Manufacturing PMI for December will be in the spotlight.
On the other hand, the uncertainties surrounding policies from incoming President Donald Trump could lift the precious metal. Additionally, geopolitical tensions in the Middle East and the ongoing Russia-Ukraine conflict are expected to remain high this year, which could boost the safe-haven flows, benefiting the Gold price.
An increase in global central banks gold demand might contribute to the precious metal metal's upside. According to the World Gold Council survey, major central banks are likely to purchase more Gold in the next 12 months. This should further bolster demand for the yellow metal.
Source: FXstreet
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...