Gold held above $2,640 an ounce on Wednesday as markets continued to assess the political and monetary outlook, while closely monitoring key economic data releases.
A recent report showed that U.S. job openings were higher than expected, indicating continued resilience in the labor market.
Investors now look ahead to Friday's anticipated nonfarm payrolls report, along with additional speeches from several Fed officials to gauge the central bank's potential policy moves this month.
The odds for a 25bps rate cut in the federal funds rate currently stand at 73%, which benefits gold by reducing the opportunity cost of holding the non-interest-bearing asset.
Meanwhile, the metal remains supported by its safe-haven appeal amid political uncertainty in South Korea and France, as well as ongoing geopolitical tensions in the Middle East and the Russia-Ukraine war.
Source: Trading Economics
Gold prices climbed on Tuesday to their highest level in more than a month, supported by a weaker U.S. dollar and lower Treasury yields, as investors looked for progress in trade talks ahead of an Aug...
Gold prices edged down to around $3,380 on Tuesday but remained close to a five-week high reached in the previous session, amid lingering uncertainty ahead of President Donald Trump's August 1 tariff ...
Gold held near the highest in a month, as risk-off sentiment returned among investors watching the progress of trade negotiations ahead of US President Donald Trump's Aug. 1 tariff deadline. Bul...
Gold prices surged more than 1% on Monday (July 21st) as the US dollar and US Treasury yields fell sharply amid uncertainty over a trade deal, amidst overall risk sentiment in the market. At the time ...
Gold rose to its highest level in more than a month as traders assessed the impact of tariffs on inflation and interest rates in the absence of relevant economic data. The dollar and bond yields weak...
Gold prices climbed on Tuesday to their highest level in more than a month, supported by a weaker U.S. dollar and lower Treasury yields, as investors looked for progress in trade talks ahead of an August 1 deadline. Spot gold was little changed at...
Indonesia's sovereign wealth fund, Danantara, plans to sign a USD 8 billion engineering, procurement, and construction (EPC) contract with US engineering firm KBR Inc. to build 17 modular refineries, according to two sources familiar with the...
Oil prices fell sharply on Tuesday morning as concerns about a trade war between the United States and the European Union resurfaced, fueling fears of a decline in fuel demand. These tensions weighed on market sentiment, fearing they would hamper...
Asia-Pacific markets traded mixed Monday, as investors keep a close watch on the People's Bank of China's decision on its 1-year and 5-year loan...
European stocks opened the week on a cautious note, with both the STOXX 50 and STOXX 600 hovering near the flatline as investors closely monitor...
Russia unleashed a renewed attack on Ukraine, targeting the country's central and western regions with drone and missiles as Kyiv's allies pledged...
European stocks posted slight declines on Monday (July 21st) as markets continued to assess the trade outlook in the European Union. The Eurozone...