Stephen Miran, a Federal Reserve governor whose term ends at the end of January, said Thursday that he is looking for 150 basis points of interest-rate cuts this year to boost the U.S. labor market. Miran told Bloomberg Television's Surveillance program that Fed officials had room to further reduce rates given his view that underlying inflation was likely running at 2.3%. "I'm looking for about a point and a half of cuts. A lot of that is driven by my view of inflation," Miran said. "Underlying inflation is running within noise of our target, and that's a good indication of where overall...
Gold futures tick lower, but keep near record highs. Futures slide 0.4% to $2,881.30 a troy ounce, after hitting a fresh record of $2,906 in the prior session. Gold's bull market looks set to continue under the Trump administration, with trade wars and geopolitical tensions reinforcing trends toward central bank reserve diversification and de-dollarization, Citi analysts say. Support from emerging market central bank gold demand and global growth concerns should raise both ETF and physical gold demand, they say in a note. A Russia-Ukraine peace deal, and clarity around whether gold will be...
Oil prices edged up in Asian trade on Thursday after Saudi Arabia's state oil company sharply raised March crude prices, but the gains were small compared with the biggest drop in benchmark Brent crude in nearly three months the previous day. Brent crude was up 8 cents at $74.69 a barrel by 0422 GMT. U.S. West Texas Intermediate crude was up 15 cents at $71.18 a barrel. Oil prices had fallen more than 2% on Wednesday as a big build in U.S. crude and gasoline inventories signaled weaker demand, and as investors weighed the implications of a new round of U.S.-China trade tariffs, including...
Silver (XAG/USD) price continued its uptrend for the fourth straight session, trading near $32.30 per troy ounce during the Asian trading hours on Thursday (February 6). Technical analysis on the daily chart highlights a strong bullish bias, with the price maintaining its upward trajectory within an ascending channel. The XAG/USD pair remains above the nine-day and 14-day Exponential Moving Averages (EMA), indicating solid near-term momentum. Moreover, the 14-day Relative Strength Index (RSI) is nearing the 70 level, which reinforces the bullish sentiment. A break above the 70 level could...
Gold (XAU/USD) prices traded with a mild positive bias during the Asian session on Thursday (6/2) and remained close to the all-time highs hit the previous day. Investors continued to seek refuge in the traditional safe-haven bullion amid growing concerns about the US-China trade war and the potential economic impact of US President Donald Trump's trade tariffs. Further, expectations that the Federal Reserve (Fed) will continue to cut interest rates in 2025 and the recent decline in US Treasury bond yields further supported the non-yielding yellow metal. However, investors took a breather...
Gold steadied in Asian trading — after blowing through a series of record highs in the previous session — with rising economic and geopolitical risks supporting haven demand. Bullion held near $2,870 an ounce — having added 0.9% on Wednesday — after President Donald Trump said the US could take over Gaza, a comment that his aides sought to tone down, and that he wants to start working on a new nuclear deal with Iran. Washington is also expected to present a plan to end Russia's war on Ukraine next week. Worries about the fallout from the US-China trade...
Bank of Japan (BOJ) Governor Kazuo Ueda stated that achieving 2% inflation is getting closer, although real inflation remains low. Ueda emphasized that the BOJ will continue to raise interest rates...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...