Gold prices (XAU/USD) fell in the Asian session on Wednesday, after touching a two-week high of around $3,395. Pressure came primarily from profit-taking and a moderate strengthening of the US dollar, causing the price to correct from its peak. Despite the weakening, gold's downside is expected to be limited. Market concerns about the Fed's independence—amid US President Donald Trump's increasingly aggressive efforts to oust one of its governors—tend to maintain interest in safe-haven assets. In such situations, gold typically remains in demand as a hedge. DISCLAIMER Note: This...
Silver prices weakened on Wednesday (August 27th), as the US dollar strengthened slightly after being pressured by concerns about the independence of the Federal Reserve. President Donald Trump's attempt to dismiss Fed Chair Lisa Cook triggered an influx of funds into safe-haven assets, including precious metals. However, the recovery of the dollar index above 98 again put pressure on silver and other precious metals. Source: Newsmaker.id
Gold prices corrected on Wednesday (August 27th), after rallying to a two-week high earlier, fueled by concerns about the Fed's independence. Safe-haven sentiment began to ease as the US dollar strengthened and US bond yields stabilized, although political tensions between President Donald Trump and Fed Chair Lisa Cook still loomed over the market. Source: Newsmaker.id