The dollar index slipped below 97.3 on Tuesday, marking a second straight decline as traders parsed Federal Reserve commentary for signals on interest rates. Several officials urged caution before cutting further, noting inflation appeared to be stabilizing. In contrast, new Fed Governor Stephen Miran warned the central bank was misjudging policy tightness and risking the labor market without more aggressive easing. Attention now turns to Friday's PCE price index, the Fed's preferred inflation gauge, for fresh policy cues. On the political front, congressional budget negotiations this week...
Silver hovered just below $44 per ounce on Tuesday, staying close to 14-year highs as traders weighed the US Federal Reserve's policy outlook. Several Fed officials urged caution on further rate cuts, citing signs of stabilizing inflation, while new Governor Stephen Miran warned the central bank was misjudging policy tightness and risking the labor market without deeper easing. Markets now await Fed Chair Jerome Powell's remarks and Friday's PCE price index, the Fed's preferred inflation gauge, for clearer direction. Support also came from strong fundamentals, with tight supply underpinning...
Gold prices steadied on Tuesday after reaching a record high, underpinned by expectations of more U.S. rate cuts and a weaker dollar, as investors awaited Federal Reserve Chair Jerome Powell's speech for further policy cues. Spot gold was up 0.2% at $3,753.25 per ounce, as of 0604 GMT, after hitting a record high of $3,759.02 earlier in the session. U.S. gold futures for December delivery rose 0.3% to $3,787.40. The U.S. dollar index (.DXY), opens new tab extended its losses from the previous session, making greenback-priced gold cheaper for overseas buyers. "I think it's predominantly a...