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 prices fell today as many investors took profits after a long rally that had seen them reach record highs. When a large number of investors sold to lock in profits, this selling pressure automatically put downward pressure on prices in the global market. In addition to profit-taking, the market also experienced a technical correction towards the end of the year. After a significant increase in the past few days, this correction is normal as the market adjusts prices and seeks a new equilibrium level before entering the new year. Although gold prices have fallen temporarily, gold's...
Gold prices (XAU/USD) continued their rally and held above $4,350 in early European trading on Wednesday. So far this year, gold has risen around 65% and is poised for its biggest annual gain since 1979, making many market participants increasingly curious: will this trend continue or is it starting to face a correction? The main driver of gold's rally comes from expectations of a US interest rate cut in 2026. When interest rates fall, the opportunity cost of holding gold shrinks because gold doesn't provide the same yield as bonds. Furthermore, global uncertainty remains high—from the...
Silver prices traded steadily on Wednesday, December 31, 2025, as the year draws to a close. Price movements tended to be limited as many investors opted to hold off amid low liquidity and a relatively quiet market due to the New Year holiday. The current price level is around $75 per ounce, demonstrating silver's resilience despite some minor fluctuations. Throughout the year, silver has recorded significant gains, as investor interest in the precious metal increased. The price surge was driven by central bank buying, inflation concerns, and global economic uncertainty. However, some...
The GBP/USD exchange rate moved steadily around 1.3465 in early Asian trading on Wednesday (December 31). This relatively calm movement occurred because trading volume was expected to be thin ahead of the New Year holiday. However, signals from the Bank of England that it was still open to gradual interest rate cuts provided some support for the pound sterling against the US dollar. At its December policy meeting, the Bank of England cut interest rates to 3.75%, the lowest level in almost three years. Governor Andrew Bailey emphasized that the policy direction remains downward, but the...
Global gold prices have stabilized after weakening at the end of the year. However, gold remains on track for its best annual performance since 1979, in line with silver's performance. Spot gold prices are hovering around US$4,335 per ounce, slightly strengthening after a sharp decline earlier this week. Meanwhile, silver prices remain above US$75 per ounce. Throughout this month, precious metal prices have fluctuated considerably. Gold and silver briefly set consecutive record highs before eventually correcting as investors began to take profits from price rallies deemed too rapid. This...
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...