Gold (XAU/USD) prices attracted some follow-through sellers at the start of a new week and retreated further from near three-week highs, around the $2,665 region touched on Friday.
Prospects for a slower pace of interest rate cuts by the Federal Reserve (Fed) in 2025 remained supportive of the uptick in the US Treasury bond yields and turned out to be a key factor undermining the non-yielding yellow metal.
Additionally, a positive risk tone exerted additional pressure on the safe-haven commodity and contributed to its offered tone for the second consecutive day.
Meanwhile, the US Dollar (USD) bulls remained subdued below two-year tops touched last Thursday.
Further, persistent geopolitical risks stemming from the prolonged Russia-Ukraine war and tensions in the Middle East, along with concerns about Trump's tariff plans, should limit losses for the safe-haven Gold prices.
This, in turn, warrants some caution before positioning for any further depreciating move ahead of this week's key US macro data releases, including the closely watched Nonfarm Payrolls (NFP) report on Friday.
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...