Silver prices followed gold's gains in the European session on Tuesday (10/12), trading near $31.90 and hitting an intraday peak of $32.04. The metal's safe haven status and close correlation with gold have supported its gains. Market uncertainty surrounding geopolitical instability and U.S. economic policy has boosted silver's appeal as a store of value. However, like gold, silver's rally has faced resistance from a stronger U.S. dollar. The People's Bank of China's gold purchases reflect broader global demand trends. Coupled with concerns about potential inflation stemming from Trump's...
Gold prices continued their rally on Tuesday. China's Politburo, promising further economic stimulus to support growth, and the resumption of Gold purchases by the People's Bank of China (PBOC) acted as a boost for the precious metal. Another source of support for Gold was safe-haven flows fueled by uncertainty in the Middle East, following the fall of the Bashar al-Assad regime in Syria, and political deadlock in France and Germany. Finally, rising bets that the Federal Reserve (Fed) will cut interest rates next week pushed US yields to multi-week lows, providing additional support for...
Gold rose during the North American session on Tuesday with buyers eyeing the $2,700 mark for the first time since November 25. One of the drivers of the yellow metal's rise was expectations that the Federal Reserve (Fed) will cut interest rates at its December meeting. At the time of writing, XAU/USD was trading at $2,694, up 1.32%. US economic data released on the day showed that small businesses have grown optimistic about the economy, according to a survey by the National Federation of Independent Business. However, traders are focused on the release of US inflation figures on the...