Gold prices rose for the fourth straight session on Thursday, driven by safe-haven demand amid escalating tensions in the Russia-Ukraine conflict, while investors awaited remarks from Federal Reserve policymakers on the interest rate outlook. Spot gold was up 0.3% at $2,657.41 per ounce, as of 0238 GMT, hitting its highest since Nov. 11. U.S. gold futures rose 0.3% to $2,660.00. Ukraine fired a series of British Storm Shadow cruise missiles into Russia on Wednesday, marking the latest use of Western weapons on Russian targets, just a day after firing U.S. missiles. Meanwhile, the United...
The U.S. dollar stood broadly firm on Thursday as traders awaited more clarity on U.S. President-elect Donald Trump's proposed policies and sought to second-guess the prospects of less aggressive interest rate cuts from the Federal Reserve. After stalling for three sessions, the greenback was back on the march higher, with investors lifting the dollar index measure against its key rivals closer to a one-year high of 107.07 hit last week. The dollar has rallied more than 2% since the Nov. 5 U.S. presidential election on bets Trump's policies could reignite inflation and temper the Fed's...
Gold futures rose on safe-haven demand. Gold futures were up 0.7% at $2,670.80 an ounce. Rising geopolitical tensions between Russia and Ukraine, exacerbated by Russia's latest nuclear threats, have prompted investors to seek stable assets like gold, said Antonio Di Giacomo of XS.com. However, gold's rally has not been as sharp as some traders had hoped, capped by the strength of the dollar, he said in a note. Since both are considered safe-haven assets, the strength of the dollar reduces the relative demand for gold. Expectations of new monetary policy decisions by major banks—including...