Gold fell at the end of a volatile week's trading, as investors assessed the path ahead for US rates and the implications of Donald Trump's election victory. Bullion declined by as much as 1% Friday, on track for its biggest weekly fall since May. The precious metal had gained Thursday, after the Fed cut rates by a quarter point, even as Chair Jerome Powell said he didn't rule "out or in" a further cut in December, noting recent indicators suggested the economy was still expanding solidly. Thursday's gain partially helped to retrace Wednesday's 3% rout, when...
Gold (XAU/USD) fell about half a percent to trade around $2,680 on Friday (08/11), extending a short-term bearish trend that has been in place since it ended on Halloween. The decline came amid market expectations that President-elect Donald Trump's economic policies will be positive for the US Dollar (USD), as higher tariffs and tax cuts could keep interest rates high, supporting foreign capital inflows into the US currency. This, in turn, is expected to pressure Gold lower as it is mostly priced and traded in USD. Gold also won a bid as there was no mention at all of how the US...
Gold edged lower following a volatile week, in which it was whipsawed by a surging dollar in the wake of Donald Trump's election win and then a Federal Reserve rate cut. Bullion traded near $2,680 an ounce after falling almost 2% last week. The precious metal received support from the Fed reduction, but was buffeted as investors weighed the likely impact of tax cuts, trade tariffs and looser regulations that Trump is pledging. While gold may benefit from demand as a hedge against inflationary pressures resulting from those policies, Wall Street economists now see fewer Fed...