The dollar rose versus all Group-of-10 peers except the Swedish krona, and stayed in tight ranges on aggregate, as traders waited for a new set of US economic data this week. The Bloomberg Dollar Spot Index rises as much as 0.2% before paring gains; the Bureau of Labor Statistics will release the September jobs report Thursday. One-week volatility comes under pressure as traders went long gamma last week, focusing on post Nov. 19 expiries. Hedging costs reflect little market concern for now over China escalating its confrontation with Japan over Prime Minister Sanae...
Global silver prices have the potential to trend upward today, amid pressure from a strengthening US dollar and changing market expectations regarding the Fed's interest rate policy. Market participants have begun to reduce expectations of an interest rate cut at the December meeting, after several Fed officials struck a more cautious tone regarding the need for policy easing. As the chances of an interest rate cut narrow, yields on interest-bearing assets become relatively more attractive, and precious metals like silver are under pressure. On the other hand, silver is not only viewed as a...
Gold prices slipped slightly Monday, extending losses from the prior session as traders steadily pared back expectations that the Federal Reserve will cut interest rates next month. At 07:55 ET (12:55 GMT), Spot gold fell 0.1% to $4,078.60 an ounce and gold futures for December fell 0.3% to $4,081.06/oz. Bullion has been pressured of late, losing over 3% over the last month, pressured by a stronger dollar amid bets on delayed rate cuts and heightened economic uncertainty. Markets are now pricing in just over a 40% chance of a 25-basis-point rate cut next month, down from over 60% earlier...