Gold weakened to around $3,740/oz on Friday as the US dollar strengthened after the release of solid economic data dampened expectations of a Fed interest rate cut. New jobless claims fell and second-quarter GDP growth was revised higher thanks to consumer spending and business investment, bringing the probability of a rate cut next month down to 85% from 90% ahead of tonight's PCE release—the Fed's favorite inflation indicator. Meanwhile, safe-haven sentiment remains supported by the risk of new tariffs announced by US President Donald Trump starting October 1: 100% on imported brand-name...
Silver prices remained strong in today's Asian session at around $46,303 per troy ounce, extending the upward trend that has been ongoing for the past few weeks. This price surge was driven by increasing investor demand for silver through ETFs, while physical supply in the global market is increasingly limited. Silver's lease rate, which has soared above 5%, indicates a tight supply of the physical metal, a situation not seen in recent years. In addition to investment factors, industrial fundamentals also supported silver's rise. Demand for this metal in the solar panel, semiconductor, and...
Gold prices rallied again, approaching the $3,800 level during the Asian session on Monday (September 29th), driven by US inflation data that met expectations. This condition reinforced speculation that the US Federal Reserve (The Fed) will continue to cut interest rates by the end of the year, which could lower the opportunity cost of holding gold as a non-yielding asset. Furthermore, geopolitical uncertainty has also boosted demand for gold as a safe haven asset. Market participants are now awaiting speeches by several Fed officials on Monday, including Governor Christopher Waller and...