Gold prices moved lower amid a quiet post-Christmas holiday trade, trading near $2,630 during the Asian session on Friday (12/27). However, the safe-haven asset could find upside support as markets anticipate signals from the US economy under the incoming Trump administration and the Federal Reserve's (Fed) interest rate outlook for 2025.
Gold, a non-yielding asset, gained traction as modest US PCE inflation data challenged expectations of limited Fed rate cuts next year, hinting at the possibility of more cuts. The safe-haven appeal was supported by rising geopolitical risks stemming from the prolonged Russia-Ukraine conflict and ongoing tensions in the Middle East.
The precious metal is on track to close the year with an impressive 27% gain, marking its best annual performance since 2010. The surge has been fueled by central bank buying, rising geopolitical uncertainties and monetary easing by major central banks.
Source: FXStreet
Expectations that the Federal Reserve (The Fed) will cut interest rates have increased the appeal of gold, as yields on fixed-income assets (such as bonds) have become lower. The US dollar has weaken...
Gold rose on Friday (November 7) as expectations of further interest rate cuts from the Federal Reserve and lingering concerns over the US economic outlook amid the prolonged government shutdown boost...
Gold strengthened in the Asian session as signs of a fragile US economy emerged. US companies reported plans to cut more than 150,000 jobs last month—nearly triple the number in September—according to...
Gold (XAU/USD) edges lower on Thursday, after briefly reclaiming the key $4,000 psychological mark amid a weaker US Dollar (USD). At the time of writing, XAU/USD is trading around $3,985, easing from ...
Gold rose above the key $4,000 per oz level on Thursday (November 6th) as a weaker dollar and a prolonged US government shutdown raised concerns about the economic outlook. Spot gold prices rose 0.7%...
Crude prices recovered from a midday dip on Friday on hopes Hungary can use Russian crude oil as U.S. President Donald Trump met Hungary's Prime Minister Viktor Orban at the White House. Brent crude futures settled at $63.63 a barrel, up 25 cents...
US stocks rebounded from early losses to close mostly higher on Friday amid hopes that Congress members were making progress toward ending the government shutdown. The S&P 500 and the Dow Jones closed 0.3% higher, while the tech-heavy Nasdaq...
European stocks fell on Friday as investors digested more quarterly earnings, but weekly losses were inevitable, with concerns regarding overheated valuations evident. The DAX index in Germany dropped 0.8% and the CAC 40 in France declined 0.2%,...
The U.S. Supreme Court's tough questioning of President Donald Trump's global tariffs has fueled growing speculation that they will be overturned,...
European stocks opened lower on Thursday, as investors reacted to another flurry of corporate earnings.
The pan-European Stoxx 600 was 0.3% lower...
Chicago Federal Reserve President Austan Goolsbee on Thursday said the lack of official data on inflation during the government shutdown...
Asian stocks slipped at the open on Friday (November 7), following a choppy session on Wall Street. The MSCI Asia Pacific Index fell about 0.2%, led...