Silver (XAG/USD) prices continued to rally near $29.80 during the European session on Friday. The white metal gained strength on increased safe-haven demand amid rising geopolitical tensions. According to a report from Axios, US President Joe Biden discussed the possibility of an attack on Iran's nuclear facilities with his national security team, with President-elect Donald Trump weeks away from taking office. Axios reported that White House National Security Advisor Jake Sullivan presented President Biden with several options for a possible US strike on Iran's nuclear sites. Historically,...
Gold (XAU/USD) prices moved higher in the European session on Friday ahead of the United States (US) ISM Manufacturing Purchasing Managers' Index (PMI) data for December, due to be released at 15:00 GMT. The Manufacturing PMI was seen steady at 48.4, indicating that activity contracted at a steady pace. The precious metal has had a stellar performance in 2024, gaining over 27%, the metal's best annual return since 2010. The sustained rally was driven by strong safe-haven demand amid persistent geopolitical tensions in the Middle East and the ongoing Russia-Ukraine conflict. Until this News...
Gold erased earlier gains, paring gains from this week as markets heeded hawkish expectations from the Fed. Fresh data from the ISM showed that manufacturing orders and production increased in December, potentially anticipating a recovery in the sector after a long period of underperformance. The survey also signaled concerns among factories about tariffs by the incoming presidential administration, adding to the risk of a pro-inflationary tone that could prevent the Fed from extending its cutting cycle.As of this writing, gold is at $2,639 Source: Newsmaker.id