Gold prices extended its steady uptrend in the Asian session and climbed to fresh intraday tops, around the $2,620 region in the last hour. Against the backdrop of persistent geopolitical risks and fears of a trade war, a modest pullback in the US Treasury bond yields provided some support to the commodity. However, any meaningful appreciating move for XAU/USD seems elusive in the wake of the Federal Reserve's (Fed) shift in its aggressive stance.
In fact, the Fed last week hinted at slowing the pace of interest rate cuts in 2025. This helped the US Dollar (USD) to hold firm near two-year highs and should act as a tailwind for the US Treasury yields, which should cap gains for the non-yielding yellow metal. This, in turn, warrants some caution before positioning for the resumption of a modest recovery move from one-month lows touched last week amid relatively thin trading volumes.
Source: FXStreet
Gold rose, reversing some of the previous session's losses as traders reduced their bets on a September interest rate cut from the US Federal Reserve. Bullion rose 0.7% to trade near $3,299 an ounce,...
Gold prices rose more than 1% on Thursday (July 31st), pulling away from a one-month low hit in the previous session, as a weaker dollar and the announcement of new US tariffs boosted demand for the s...
Gold prices rebounded on Thursday from a one-month low hit in the previous session, as trade uncertainty sparked by the announcement of new US tariffs boosted bullion's appeal, even as expectations of...
Gold edges higher in the early Asian trade on possible position adjustments following the Fed's decision to leave rates unchanged as widely expected. However, gold's gains may be curbed after Fed Cha...
Gold price tumbled over 1.50% on Wednesday after the Federal Reserve, decided to hold rates unchanged, on a 9-2 split vote. Fed Chair Jerome Powell's leaning hawkish at the press conference, alongside...
Gold rose, reversing some of the previous session's losses as traders reduced their bets on a September interest rate cut from the US Federal Reserve. Bullion rose 0.7% to trade near $3,299 an ounce, following a decline in the dollar after Fed...
Oil prices held gains this week as traders grappled with President Donald Trump's threat to impose punitive tariffs on Russian energy buyers. West Texas Intermediate crude oil prices were little changed on Thursday, but closed at a six-week high...
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 June from 2.4% in May (revised from 2.3%), the US Bureau of Economic Analysis reported on Thursday....
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...
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...
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...
US stocks maintained modest gains on Tuesday (July 29) as the market digested a series of earnings reports ahead of key economic developments. The...