Gold price (XAU/USD) drifts lower during the Asian session on Thursday, albeit it remains confined in a familiar range held over the past week or so amid mixed fundamental cues.
The overnight hawkish remarks by FOMC members, including Federal Reserve (Fed) Chair Jerome Powell, reaffirmed expectations that the US central bank will take a cautious stance on cutting rates.
This assists the US Treasury bond yields to rebound slightly from their lowest closing levels in more than a month and turns out to be a key factor undermining the non-yielding yellow metal.
Apart from this, the prevalent risk-on environment is seen exerting some downward pressure on the safe-haven Gold price.
That said, persistent geopolitical tensions stemming from the worsening Russia-Ukraine conflict and concerns about US President-elect Donald Trump's tariff plans could act as a tailwind for the XAU/USD.
Furthermore, the lack of any meaningful US Dollar (USD) buying should contribute to limiting losses for the commodity. Traders might also opt to wait for the release of the US Nonfarm Payrolls (NFP) report on Friday before placing directional bets.
Source: FXStreet
The price of Gold started the new week with gains, Commerzbank's Head of FX and Commodity Research Thu Lan Nguyen notes. Recent record high at $3,500 is likely to approach quickly"The precious metal ...
Gold price (XAU/USD) edges lower on Tuesday after two days of gains. However, the price of the safe-haven metal may appreciate due to prevailing uncertainty ahead of US President Donald Trump's August...
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...
U.S. Treasury Secretary Scott Bessent said on Tuesday that he will meet his Chinese counterpart next week and discuss what is likely to be an extension of an August 12 deadline for higher tariffs. Bessent told Fox Business that trade with China...
The Pound Sterling (GBP) demonstrates stability against its major peers on Tuesday, with investors awaiting preliminary United Kingdom (UK) S&P Global Purchasing Managers' Index (PMI) data for July, scheduled for release on Thursday. Investors...
The EUR/USD pair is posting marginal gains ahead of the US Session opening on Tuesday as the US Dollar retreats further with trade uncertainty growing. Meanwhile, a rather positive Lending survey from the European Central Bank (ECB), released...
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...
The US has signaled it will not relax its August 1 deadline for higher tariffs against the European Union as the bloc struggles to reach a deal on...
European stocks posted slight declines on Monday (July 21st) as markets continued to assess the trade outlook in the European Union. The Eurozone...