Gold (XAU/USD) prices triggered some extended selling for the second straight day and fell to a more than two-week low as Speculation that the Federal Reserve (Fed) will maintain its hawkish stance on the back of persistently high inflation helped the dollar extend this week's recovery from its lowest level since December 10. This turned out to be a key factor driving flows away from the non-yielding yellow metal.Gold price at the time of this news release was at $2,864 Source: Newsmaker.id
Gold prices fell on Friday (28/2) and were set to post their biggest weekly decline since November on a stronger dollar, while investors awaited key U.S. inflation data for clues on the direction of Federal Reserve monetary policy. The dollar index, meanwhile, was set for a weekly gain of 0.7%, making dollar-priced gold more expensive for foreign buyers. In addition, IG market strategist Yeap Jun Rong said. "Although gold is considered a safe asset, uncertainties on the trade front may still cause profit-taking to spread further, amid a stronger U.S. dollar," Gold price when this news was...
Silver prices held around $31.20 an ounce on Friday and are set to fall nearly 4% for the week, pressured by demand uncertainty, strong supply and some profit-taking. A stronger dollar also weighed on silver prices after U.S. President Donald Trump confirmed Thursday that his proposed 25% tariffs on Mexico and Canada would go into effect on March 4, along with an additional 10% duty on imports from China. Hecla Mining Company, the largest U.S. silver producer, reported a 13% increase in silver production for 2024, mining 16.2 million ounces (moz), marking the second-highest production...