Gold steadied around $2,750 an ounce on Friday after losing more than 1% in the previous session, as markets weighed demand for safety against pressure from a less dovish Federal Reserve. The latest U.S. data revealed strong personal income and spending figures, a rise in underlying inflation that remained above target, and an unexpected drop in jobless claims. This reinforced the perception that the U.S. economy is resilient to higher borrowing costs and gave the Fed more room to avoid implementing aggressive cuts.
However, political uncertainty in the U.S. is supportive of gold, as the prospect of another Trump presidency raises expectations for expansionary fiscal policy and higher tariffs, prompting investors to hold bullion as a hedge against longer-term inflation risks. In addition, ongoing tensions in the Middle East and the war in Ukraine have further boosted gold's appeal as a safe-haven asset.
Source: Trading Economics
Gold prices fell on Thursday (September 4), slightly off record highs as investors locked in profits, while attention turned to key US employment data for further insight into the Federal Reserve's po...
Gold held near an all-time high after a seven-day rally, as weak US data spurred more bets on an interest-rate cut by the Federal Reserve this month and mounting concerns over the central bank's ...
Gold prices climbed above $3,570 per ounce on Wednesday, extending its record-breaking rally, lifted by softer US jobs data that reinforced expectations for a Federal Reserve rate cut later this month...
Gold hit a new record high on Wednesday (September 3), consolidating gains above the $3,500 level amid growing expectations of a Federal Reserve rate cut this month and concerns over US tariff policy ...
Gold (XAU/USD) continued its sideways consolidation throughout the first half of the European session on Wednesday and remained near all-time highs. Growing acceptance that the US Federal Reserve (Fed...
Activity at US service providers expanded in August at the fastest pace in six months on the sharpest acceleration in orders in nearly a year. The Institute for Supply Management's index of services rose 1.9 points last month to 52, the...
High-stakes energy diplomacy in Beijing this week signals China's willingness to challenge US President Donald Trump's efforts to isolate Russia and assert US energy dominance. Chinese President Xi Jinping, sitting alongside Russian President...
US applications for unemployment benefits rose to their highest level since June, adding to evidence that the labor market is cooling. Initial claims rose 8,000 to 237,000 in the week ending August 30. The median forecast in a Bloomberg survey of...
The US Bureau of Labor Statistics (BLS) will release the Job Openings and Labor Turnover Survey (JOLTS) on Wednesday. This publication will provide...
Global stocks fell and long-dated bond yields in Europe hit multiyear highs on Tuesday as investors grew increasingly worried about the state of...
In his first press conference in a week, President Donald Trump dismissed rumors of his death circulating on social media. In a casual tone, Trump...
Asia-Pacific markets mostly fell Wednesday, tracking losses on Wall Street as investors assessed rising global bond yields and the latest...