Gold (XAU/USD) maintains its offered tone below the weekly high touched earlier this Thursday, though it manages to defend the $4,200 mark heading into the European session. The US Dollar (USD) stalls its post-FOMC decline and stages a modest recovery from its lowest level since October 24. This, along with the underlying bullish sentiment, turns out to be a key factor exerting some downward pressure on the precious metal. However, the Federal Reserve's (Fed) dovish outlook might keep a lid on any meaningful USD appreciation and act as a tailwind for the non-yielding Gold. Apart from this,...
The US dollar found support on Thursday (December 11) from a broad risk-averse market mood, but failed to recover overnight losses against other currencies such as the euro, yen, and pound sterling after the Federal Reserve offered a less aggressive outlook than some had expected. Investors in Asia sold riskier assets such as stocks and cryptocurrencies after disappointing earnings from US cloud computing giant Oracle rekindled concerns that soaring AI infrastructure costs could outpace profitability. This helped stem the decline in the safe-haven US dollar, which initially faced selling...
Gold prices fell slightly on Thursday (December 11th), as traders weighed the US Federal Reserve's split vote on a quarter-percentage-point interest rate cut, while silver rose to a new record high. Spot gold fell 0.2% to $4,220.09 an ounce, as of 0947 GMT. US gold futures for February delivery rose 0.5% to $4,247.50 an ounce. "It's just overpositioning (in gold) in anticipation of a rate cut, which did happen, and so you're seeing some selling pressure," said independent analyst Ross Norman, adding that gold's fundamentals remain intact. The Fed cut interest rates by a quarter-percentage...