Gold prices gained about 1% on Friday, supported by a weaker greenback and geopolitical woes, but were on course for their worst monthly performance since September 2023 due to a dollar rally this month following Donald Trump's U.S. election victory. Spot gold climbed 0.9% to $2,664.11 per ounce, as of 1001 GMT, but set for a weekly fall of about 2% after a sharp sell-off earlier this week. U.S. gold futures also gained 0.9% to $2,664.50. Bullion has declined more than 3% so far in November, its worst monthly performance since September 2023, as traders expect the prospect of higher...
Gold braces for worst month in over a year on Trump-driven sell-off.Gold prices gained on Friday, boosted by a drop in dollar and persistent geopolitical tensions, but bullion was still set for its worst monthly loss since September last year after a post-election sell-off driven by Donald Trump's win. Spot gold rose 0.7% to $2,660.28 per ounce, but was set for a weekly fall of over 2% after a sharp decline earlier this week. U.S. gold futures also gained 0.7% to $2,684.9. Gold has dropped over 3% so far this month, its worst monthly slide since September 2023, as "Trump euphoria" lifted...
Gold price (XAU/USD) edges lower to around $2,645 during the early Asian session on Monday. A recovery in the US Dollar broadly weighs on the precious metal. However, persistent geopolitical tensions could cap the downside for XAU/USD. The yellow metal declined 3% in November, its worst monthly loss since September 2023. A victory of Donald Trump in the US Presidential election in November fuelled expectations that the Federal Reserve (Fed) would adopt a cautious approach to further rate cuts, which boost the Greenback and drag the USD-denominated Gold lower. Nonetheless, the escalating...