Gold price (XAU/USD) attracts fresh sellers during the Asian session on Friday and moves away from the all-time peak touched the previous day, though the downside potential seems limited. The US Dollar (USD) attracts buyers for the third successive day and is currently placed near the weekly high, which, in turn, is seen as a key factor exerting pressure on the commodity. Adding to this, bulls opt to take some profits off the table heading into the weekend, especially after the recent historic run. However, bets that the Federal Reserve (Fed) will resume its rate-cutting cycle should cap...
Silver fell over 1% to around $33 per ounce on Friday, hitting a one-week low as the US dollar rebounded. The dollar's strength came after Federal Reserve Chair Jerome Powell reaffirmed that the central bank is in no rush to cut interest rates further, despite signaling two potential rate reductions this year. Powell pointed to weakening economic growth and labor market concerns but maintained a cautious stance due to uncertainty surrounding US President Donald Trump's tariff policies and their impact on inflation. Adding to pressure on silver, lingering economic concerns in China dampened...
The US Dollar (USD) gathered bullish momentum and outperformed its rivals on Thursday. The USD Index, which tracks the USD's valuation against a basket of six major currencies, continued to move higher on Friday morning and remained in positive territory on the weekly chart. The economic calendar will not feature any high-impact data releases on Friday, and investors will be watching comments from Federal Reserve officials and US President Donald Trump. The USD benefited from the cautious market mood and upbeat data releases on Thursday. After rebounding on Wednesday, major equity indexes...