Initial jobless claims in the US surged by 27,000 from the previous week to 263,000 in the first week of September, the highest single-week figure since October 2021, and well above market consensus of 235,000 initial claims. This finding aligns with a series of downbeat labor market surveys released since the beginning of the month, adding to evidence of worsening employment conditions in the US. (alg) Source: Trading Economics
Gold (XAU/USD) prices surged higher on Tuesday after the market decided to focus on the US debt issuance that will shake up the bond market this week with a large allocation of 10-year and 30-year bonds. Market participants are starting to worry whether the large amount of debt and its size does not pose a risk that a larger premium will need to be paid (higher interest rates) to get the allocation of issuance. The market also remains wary of a series of recent comments and headlines about the US tariff plan that President-elect Donald Trump wants to implement. Source: Newsmaker
Silver prices (XAG/USD) traded above $30 per troy ounce on Tuesday (7/1), which touched the highest level in almost three weeks as the US dollar weakened following reports that the new Trump administration may take a more targeted approach in implementing tariffs. Market players are currently focused on important US labor market data this week to assess the outlook for Federal Reserve monetary policy, which could affect the direction of the dollar. Meanwhile, silver is still supported by the positive economic outlook in China, the world's largest silver consumer. Beijing recently promised...
Silver prices held above the $30 an ounce level in the mid-US session on Monday as investors cautiously awaited key US economic data that could influence the Federal Reserve's monetary policy outlook. Among the upcoming reports, the market is mainly focused on the US monthly jobs report due on Friday, which could provide insight into whether silver will recover further. Source: Newsmaker.id
Gold prices (XAU/USD) were stable in the $2634 area at the start of the Asian trading session on Tuesday (7/1)This was driven by traders considering the risks to global trade under the new US administration, with President-elect Donald Trump denying reports that he might moderate plans for blanket tariffs. The gold price at the time of this news release was -0.5% or at $2634/Toz. Source: Newsmaker
Silver prices held above $30 an ounce in US mid-day trading on Monday as the white metal also found support from an upbeat economic outlook in China, the world's largest silver consumer. Beijing recently pledged "more proactive" macroeconomic policies and lower interest rates this year to stimulate growth. Additionally, data showed China's services sector expanded at a seven-month high in December, signaling resilient consumption. Source: Newsmaker.id
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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