Gold rose for a fourth day as the dollar weakened and tensions in Ukraine raised demand for safe-haven assets.
Bullion rose as much as 1% to trade near $2,665 an ounce on Friday, but was still down about 2% for the week after a cease-fire deal between Israel and Hezbollah earlier in the week. President Vladimir Putin warned Thursday that his forces could strike "decision-making centers" in Kyiv with ballistic missiles, in retaliation for Ukrainian attacks on Russia using Western missiles.
The U.S. currency gauge fell on Friday, and was on track for its first weekly decline in eight weeks. A weaker dollar makes gold cheaper for many buyers. The precious metal is still up nearly 30% this year, supported by the Federal Reserve's monetary easing cycle, central bank purchases and rising geopolitical and economic risks. There are hopes for a new record in 2025, with Goldman Sachs Group Inc. and UBS Group AG both issuing bullish outlooks this month.
Spot gold rose 1% to $2,663.03 an ounce as of 1:31 p.m. in Singapore. The Bloomberg Dollar Spot Index fell 0.2%, and is down 1.1% this week. Silver, platinum and palladium gained.
Swap markets are pricing in a more than 60% chance that the Fed will cut borrowing costs again next month, up from about the same chance earlier this week. Lower borrowing costs typically benefit gold, since it doesn't pay interest.
Source: Bloomberga
Gold prices edged higher on Wednesday (July 30th), boosted by a slightly weaker dollar as investors awaited the Federal Reserve's policy decision and comments that could provide further clues about th...
Gold prices edged up on Wednesday, supported by lower Treasury yields and a slight pullback in the dollar, while investors await the Federal Reserve's policy decision later in the day for guidance on ...
Gold hovered around $3,320 an ounce on Wednesday, staying near a three-week low as easing trade tensions reduced the metal's safe-haven appeal. The US–EU agreement, which imposed a 15% tariff on most ...
Gold is steady ahead of the FOMC decision due later today. While the FOMC is widely expected to leave rates unchanged, the focus will be on whether Fed Chair Powell offers any hint of a September rate...
Gold price recovered some ground on Tuesday after falling for the fourth straight day as the Greenback trimmed some of its earlier gains, which boosted appetite for the yellow metal. A drop in US Trea...
The dollar advanced against major peers on Wednesday following better-than-expected U.S. GDP data and as investors awaited the outcome of the Federal Reserve's policy meeting later in the session. U.S. economic growth rebounded more than expected...
The S&P 500 edged up 0.1% and the Nasdaq 0.3% on Wednesday (July 30), while the Dow Jones Industrial Average hovered near the flatline, as investors awaited the Fed's policy decision and assessed key economic data. The Fed is expected to keep...
Oil prices rose after US President Donald Trump threatened to punish India for buying Russian energy, in an effort to increase pressure on Moscow to end the war in Ukraine. Brent oil prices approached $73 per barrel in volatile trading, following...
Europe's Stoxx 600 index erased earlier gains to close 0.23% lower as investors turned less positive over the details of the U.S.-EU trade...
European stock markets closed higher in Tuesday trading as the Stoxx Europe 600 was up 0.33%, Germany's DAX climbed 1.03%, the FTSE 100 gained...
The European Union and the U.S. will form a "metals alliance" to counter the impact of subsidised Chinese production on global markets, as part of...
The Dow Jones Industrial Average (DJIA) tested all-new record highs early Monday, clipping into the high side in early trading before the weight of...