Gold rose 1% on Monday (December 15) and held near a seven-week high, supported by a weaker dollar, expectations of interest rate cuts, and safe-haven buying due to geopolitical tensions, while silver rose but remained below Friday's record high. Spot gold prices rose 1% to $4,343.96 an ounce at 0949 GMT. Bullion hit its highest level since October 21 on Friday. US gold futures rose 1.2% to $4,377.80 an ounce. The US dollar held near a two-month low hit last week, making dollar-denominated gold more affordable for overseas buyers, while the yield on the benchmark 10-year US Treasury bond...
Silver (XAG/USD) prices have gained more than $2 so far on Monday (December 15th), reaching an intraday high near $63.80 and approaching a new record high of $63.65, after bouncing off a low below the $61.00 mark on Friday. The precious metal traded on a firm note on Monday, driven by a cautious market mood following weak data from China and renewed concerns about the country's property sector amid news that state-owned developer China Vanke is on the verge of bankruptcy. Furthermore, US President Trump has named former Fed Governor Kevin Warsh as the most suitable person to replace...
Markets are focused on US macro data and Federal Reserve (Fed) communications, with November's Nonfarm Payrolls (NFP) data expected to show weak job growth and a higher unemployment rate. Weaker data or a dovish Fed signal could revive expectations of a March interest rate cut, while Thursday's European Central Bank (ECB) meeting remains the main external risk for short US Dollar (USD) positions, notes ING FX analyst Chris Turner. Fed speakers could reinforce the dovish bias "In terms of US domestic news this week, the focus will be on major data releases and key Fed speeches. The...