Gold (XAU/USD) prices moved lower during the Asian session on Thursday (11/28), albeit found some support near the $2,620 area and has now trimmed some of its intraday losses. US macro data released on Wednesday showed a still-resilient US economy and stalled inflation progress, suggesting that the Federal Reserve (Fed) may be cautious about further interest rate cuts. This, in turn, triggered a fresh leg up in the US Treasury bond yields, which helped revive demand for the US Dollar (USD) and undermined the non-yielding yellow metal.
Meanwhile, current market pricing suggests around a 70% chance that the US central bank will lower borrowing costs at its December policy meeting. Additionally, expectations that Scott Bessent – President-elect Donald Trump's nominee for US Treasury Secretary – will rein in the budget deficit could cap gains in US bond yields. This, along with concerns about Trump's threatened tariffs and geopolitical risks stemming from the worsening Russia-Ukraine conflict, provided some support to the safe-haven Gold price.
Source: FXSTreet
Gold price rallies more than 1.50% on Friday following the release of a dismal Nonfarm Payrolls (NFP) report in the United States (US), which showed the jobs market is cooling faster than expected. Al...
Spot gold prices rose more than 1%, surpassing $3,340 an ounce on Friday (August 1), as the latest U.S. jobs report reinforced evidence of a cooling labor market and strengthened expectations of a Fed...
Gold prices held steady on Friday (August 1st), but were set for a third consecutive weekly loss due to pressure from a stronger dollar and diminishing expectations for a US interest rate cut, while u...
Gold prices ticked higher on Friday, supported by uncertainty stemming from a slew of U.S. tariffs slapped on trading partners, although a stronger dollar kept bullion on track for a weekly loss. Spo...
Gold prices were muted around $3,290 per ounce on Friday and were on track for its worst weekly performance since late June, pressured by a stronger US dollar following President Trump's introduction ...
The Australian Dollar (AUD) remains under pressure against the US Dollar (USD) on Friday, giving back most of its earlier gains despite broad weakness in the Greenback following a disappointing Nonfarm Payrolls (NFP) data. The AUD/USD initially...
Oil prices $2 a barrel on Friday because of jitters about a possible increase in production by OPEC and its allies, while a weaker-than-expected U.S. jobs report fed worries about demand. Brent crude futures settled at $69.67 a barrel, down $2.03,...
The yen has suffered a difficult month, but BCA Research thinks the Japanese currency is primed for a multi-year rally. At 08:30 ET (12:30 GMT), USD/JPY traded 0.2% lower at Y150.49, having earlier in the session climbed as high as Y150.91, the...
Annual inflation in the United States (US), as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, rose to 2.6% in...
Asia-Pacific markets traded mixed Thursday as investors assessed the U.S.′ blanket 15% tariffs on imports from South Korea and awaited details on...
The pan-European Stoxx 600 index provisionally closed just below the flatline on Wednesday, with sectors diverging as second quarter earnings season...
According to a report from the US Department of Labor (DOL) released on Thursday, the number of Americans filing new applications for unemployment...