Gold prices edged higher on Tuesday (August 19th), boosted by a weaker dollar amid prospects for a US interest rate cut, while investors awaited the Fed Chair's speech in Jackson Hole later this week. Spot gold rose 0.2% to $3,336.88 per ounce at 08:14 GMT. US gold futures for December delivery rose 0.1% to $3,381.20. The dollar index fell 0.1% against a basket of major currencies, making gold cheaper for holders of other currencies. "Gold has been in a tight range for the past few weeks, pulled in various directions amid the ebb and flow of trade tensions, efforts to secure a...
Gold strengthened as traders monitored US-led efforts to end the war in Ukraine and counted down to the Federal Reserve's annual meeting in Jackson Hole, which may yield hints about a possible interest rate cut. Spot gold prices edged up to $3,345 an ounce, after ending nearly flat on Monday. Fed Chairman Jerome Powell is scheduled to deliver a keynote address at a meeting of central bankers on Friday, and his remarks could reinforce widespread investor expectations for looser monetary policy. Lower borrowing costs typically benefit precious metals, a non-yielding asset. Meanwhile, the US...
Oil prices fell as traders weighed the prospect of a ceasefire in Ukraine, with President Donald Trump pushing for a summit between Vladimir Putin and Volodymyr Zelenskiy after a series of high-level talks. Brent oil prices fell below $66 a barrel, remaining within a narrow range they have held for the past two weeks. Any peace deal could eventually pave the way for easing restrictions on Russian crude exports, although Moscow has largely maintained its oil supplies since the conflict began. Trump called the Russian president and urged him to begin working on plans for a one-on-one meeting...