Gold surged above $3,890 an ounce on Wednesday (October 1), hitting a new record high as the US government shutdown boosted demand for safe-haven assets. Washington has suspended most operations after a partisan standoff prevented a funding deal between Congress and the White House, triggering a potentially prolonged impasse that threatens thousands of federal jobs.
Traders are closely monitoring the duration of the government shutdown, as it threatens to delay key economic data, including Friday's nonfarm payrolls report, which is seen as crucial ahead of the Fed's policy meeting in late October.
Meanwhile, US job openings edged higher in August while hiring slowed, signaling a cooling labor market that could give the Fed room to cut interest rates. Markets are now pricing in a near-certain rate cut this month and about a 76% chance of another rate cut in December. (alg)
Source: Trading Economics
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...