Gold steadied after falling the most in more than three weeks as expectations for fewer U.S. interest rate cuts this year were offset by demand for safe havens ahead of Donald Trump's return to the White House Bullion traded near $2,670 an ounce, having fallen 1% in the previous session as traders recalibrated bets on the Federal Reserve's easing path after a surprisingly strong U.S. jobs report reinforced views that interest rates are likely to remain high for longer. Higher borrowing costs tend to make the precious metal less attractive, as it does not pay interest. Source: Newsmaker.id
Silver prices edged up in midday US trading on Tuesday after falling more than 3% in the previous session, as the dollar weakened following weaker-than-expected US inflation data. Looking ahead, investors are focused on US consumer price index data for further insight into the Fed's policy direction. Despite the recent decline, silver has surged nearly 3% last week, marking its best weekly performance since mid-November. Silver continues to find support from strong industrial demand, particularly in renewable energy and electronics, as well as ongoing supply concerns. Source: Newsmaker.id
Gold prices extended gains after U.S. inflation data came in slightly weaker than expected, giving investors a faint hope that the Federal Reserve will continue its path of easing interest rates this year, which weakened the dollar.Spot gold rose 0.3% to $2,671.27 per ounce. U.S. gold futures settled 0.1% higher at $2,682.30. The data showed the Producer Price Index (PPI) rose 3.3% on an annualized basis in December, compared with a 3.4% increase expected by economists polled by Reuters.The cooler PPI data sent the U.S. dollar index lower and that helped the bullion market, as lower...