Gold prices were largely unchanged on Thursday as rising US Treasury yields offset support from a weaker dollar, while the market awaited Friday's US inflation data for clues on the Federal Reserve's policy outlook ahead of its December meeting. Spot gold fell 0.2% to $4,195.69 an ounce, as of 15:05 GMT. US gold futures for February delivery fell 0.2% to $4,224.10 an ounce. "Higher yields are capping some upside (for gold), and the dollar index is generally providing some support," said Marex analyst Edward Meir. The benchmark 10-year US Treasury yield rose 0.8%, while the US dollar index...
Gold (XAU/USD) posted modest gains on Thursday, despite the latest US jobs data showing that the labor market remains resilient, albeit with signs of easing emerging. High expectations that the Federal Reserve (Fed) will cut interest rates kept bullion prices supported, with XAU/USD trading at $4,212, up 0.25% at the time of writing. The mixed US jobs data kept rate cut speculation high, helping bullion extend its gains despite signs of a stabilizing labor market. Market sentiment was mixed after the release of the latest US economic data showed the labor market weakening, but not as...
Oil prices held steady on Thursday amid investor expectations that the Federal Reserve would cut interest rates, while stalled Ukraine peace talks dampened hopes of a deal to restore Russian oil flows. Brent crude closed up 59 cents, or 0.94%, at $63.26. U.S. West Texas Intermediate crude closed up 72 cents, or 1.22%, at $59.67. U.S. crude futures rose more than $1 per barrel earlier in the session, boosted by expectations that a U.S. interest rate cut would support the world's largest economy and oil demand, after data showed a slowdown in employment. The dollar weakened, poised to post a...