Silver slipped below $41.5 per ounce on Thursday, falling for a third consecutive session after the US Federal Reserve delivered a widely expected quarter-point rate cut but struck a more cautious stance on further easing than markets anticipated. The Fed signaled two more reductions this year but only one in 2026, pushing back against expectations for two or three cuts next year. Chair Jerome Powell described the move as "risk management" in response to labor market weakness, while emphasizing there is no urgency to accelerate cuts. Elsewhere, the Bank of Canada also lowered its policy...
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, has lost its daily gains and is trading around 97.00 during the European hours on Thursday. Traders will likely observe weekly US Initial Jobless Claims later in the North American session. However, the US Dollar (USD) gained support from strong inflation projections that have curbed expectations of more aggressive Federal Open Market Committee (FOMC) rate cuts. The Federal Reserve (Fed) lowered the funds rate by 25 basis points (bps), marking the first cut of the year. A Summary of...
Gold prices extended declines in Asian trading on Thursday, slipping from record highs as the U.S dollar rebounded after the Federal Reserve lowered interest rates in a widely expected move and signalled a measured approach to further policy easing. Spot gold fell 0.7% to $3,635.55 an ounce by 02:24 ET (06:24 GMT), extending a nearly 1% loss from the previous session, where it reached a fresh record high of $3,707.40/oz. U.S. Gold Futures for December delivery dropped 1.3% to $3,670.45. Fed lowers rates by 25bps, cautious on future easingThe Fed lowered its benchmark rate by 25 basis...