Gold prices dipped on Monday as the U.S. dollar soared to an over two-year high after a robust jobs report last week cemented expectations the Federal Reserve will proceed with caution with cutting interest rates this year.
Spot gold fell 1% to $2,661.76 per ounce as of 03:57 p.m. ET (2057 GMT). Prices hit their highest in a month on Friday. U.S. gold futures settled 1.3% lower at $2,678.60.
The dollar index (.DXY), rose to its highest since November 2022 after the U.S. jobs report underscored the strength of the economy and muddied the Fed outlook.
A higher dollar makes bullion more expensive for overseas buyers.
Trump will be sworn in as president of the U.S. next week. His proposed tariffs and protectionist trade policies are expected to be inflationary and could spark trade wars, adding to gold's allure as a safe-haven asset.
Trump will be sworn in as president of the U.S. next week. His proposed tariffs and protectionist trade policies are expected to be inflationary and could spark trade wars, adding to gold's allure as a safe-haven asset.
Currently, markets expect a 25-basis-point cut this year, compared with expectations of 40 basis points last week.
Higher interest rates make the non-yielding bullion less attractive.
Spot silver lost 2.6% to $29.62 per ounce, platinum dropped 1.4% to $950.90 and palladium shed 0.5% to $943.50.
Source : Reuters
Gold price (XAU/USD) pulls back from the $3,369 region, or over a one-week top touched during the Asian session on Monday, and for now, seems to have stalled last week's goodish recovery move from a o...
Gold prices weakened slightly on Monday (August 4th) as investors took profits after a sharp rise in the previous session on weaker-than-expected US employment data, which raised expectations of a US ...
Gold edged lower early in the Asian session on a technical correction after gold futures closed nearly 1.7% higher last Friday. However, gold's decline may have been limited by rising expectations of ...
Gold price rallies more than 1.50% on Friday following the release of a dismal Nonfarm Payrolls (NFP) report in the United States (US), which showed the jobs market is cooling faster than expected. Al...
Spot gold prices rose more than 1%, surpassing $3,340 an ounce on Friday (August 1), as the latest U.S. jobs report reinforced evidence of a cooling labor market and strengthened expectations of a Fed...
Tensions and fears are running high in Switzerland, as the deadline to strike a trade agreement with the U.S. looms just days away. Without a deal, Switzerland faces 39% duties on its goods imported into the U.S., after it was hit with one of the...
Oil prices dropped on Monday after OPEC+ agreed to another large output hike in September, though traders remained wary of further sanctions on Russia. Brent crude futures fell 85 cents, or 1.2%, to $68.82 a barrel by 0846 GMT, and U.S. West Texas...
Gold prices (XAU/USD) have declined from the $3,369 region, a more than one-week high touched during the Asian session on Monday (August 4th), and currently appear to be stagnating after a relatively strong recovery from last week's one-month...
US non-farm payrolls rose by 73,000 in July 2025, after being revised down by 14,000 in June and well below the 110,000 estimate. The upward trend...
The European stock markets closed sharply lower in Friday trading as The Stoxx Europe 600 fell 1.8%, Germany's DAX dropped 2.5%, the FTSE 100 was...
US Stocks plunged on Friday, as investors reacted to a weak July jobs report and a fresh round of tariffs announced by President Trump. The S&P...
The ISM Manufacturing PMI fell to 48 in July 2025 from 49 in June, missing expectations of a rise to 49.5. This figure marked the fifth consecutive...