Gold prices edged up on Wednesday as investors hunted for bargains after steep declines in the previous session, while spotlight shifted to U.S. inflation print, which could shed more light on the Federal Reserve's monetary policy path. Spot gold rose 0.4% at $2,608.18 per ounce by 0200 GMT, after hitting its lowest since Sept. 20 on Tuesday. U.S. gold futures was up 0.3% at $2,614.10. There is currently some bargain hunting going on as prices fell below the $2,600 mark. Recent sessions saw gold negatively impacted due to a stronger dollar, driven by expectations of inflationary Trump...
Gold prices (XAU/USD) attracted some buyers during the Asian session on Wednesday (13/11) and for now, seems to have snapped three consecutive days of declines to the lowest level since September 20, around the $2,590-$2,589 region touched the previous day. The uptick lacked any obvious fundamental catalyst and could be attributed to some repositioning activity ahead of the US consumer inflation figures. The key data could influence expectations about the Federal Reserve's (Fed) interest rate cut path and provide a fresh directional impetus to the non-yielding yellow metal. Ahead of the key...
Gold edged higher following a bruising run that came after Donald Trump's election win spurred a rally in the dollar. A gauge of the greenback has risen to its highest level in almost two years, making gold and other commodities priced in dollars more expensive for most buyers. Hedge funds have been unwinding bullish wagers on the precious metal and exchange-traded fund flows turned less supportive amid a widespread rotation into US equities. Bullion has slipped more than 6% from an all-time high on Oct. 31, but is still up by over a quarter this year. It has been...