Gold price rallied during the North American session and reached a record high of $3,991, before settling closer to $3,982 for a 0.60% gain. Uncertainty about the US government shutdown and expectations of lower interest rates the Federal Reserve (Fed) keep the yellow metal bid.
Bullion hits fresh record highs on US fiscal gridlock, geopolitical uncertainty and central bank demand
The New York Fed revealed the Survey of Consumer Expectations (SCE) showed that inflation expectations ticked higher, while the labor market continued to deteriorate.
Aside from this, Fed officials crossed the wires. The Minneapolis Fed's Neel Kashkari was moderately hawkish, saying that it is too soon to know if inflation will be sticky from tariffs. Earlier, Fed Governor Stephen Miran noted that growth in the first half of this year was slower than expected and that policy should be forward looking, given the lags of policy impact.
Alongside the reasons mentioned above, Bullion is also underpinned by the Russia-Ukraine war and political uncertainty in France and Japan.
Goldman Sachs revised their 2026 forecast for Gold prices from $4,300 to $4,900, citing strong flows into Gold ETFs and central bank demand. The People's Bank of China (PBoC) added Bullion to its reserves in September for the eleventh straight month.
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...