Gold price rebounded off daily lows on Friday, extending its rally for the fourth consecutive day as traders shrugged off a strong United States (US) Nonfarm Payrolls report. This tempered the Federal Reserve's (Fed) concerns about the labor market, but not so much inflation as some officials acknowledged. The XAU/USD trades at $2,687, up 0.69%.
Bullion fell sharply after the US Bureau of Labor Statistics (BLS) revealed that the economy added an outstanding number of people to the workforce, topping 200K. As a consequence, the Unemployment Rate dipped, while investors priced in fewer interest rate cuts based on the fact that the economy continues to create enough jobs, while the disinflation process "halted," according to the Fed's latest minutes.
Nevertheless, XAU/USD recovered once market participants digested the data. The data reassured Fed officials that the labor market remains healthy while they tackle inflation, which recently edged higher after the US central bank lowered rates by 100 basis points in 2024.
Source : FXStreet
Gold prices pared losses on Friday (October 24) after slightly lower-than-expected US inflation data reinforced expectations that the Federal Reserve will cut interest rates next week, but the preciou...
Gold prices pared losses on Friday (October 24) after slightly lower-than-expected US inflation data reinforced expectations that the Federal Reserve will cut interest rates next week, but the preciou...
Gold drew attention during LME Week, with prices up by around 60% this year. The rally has been driven by uncertainties over global trade, heightened geopolitical tensions, US fiscal stability and the...
Gold falls in early Asian trade on likely further unwinding of long positions, analysts say. "Our gold analysis suggests moderate further downside may be on the cards," says Fawad Razaqzada, market an...
Gold prices rose more than 1% on Thursday (October 23rd) after two consecutive sessions of declines, as resurgent geopolitical risks boosted demand for safe-haven assets and investors prepared for key...
Three major US indexes closed at new record highs after a lower-than-expected inflation report raised the possibility of a Federal Reserve interest rate cut later this year and prompted investors to shift to riskier assets. The S&P 500 rose...
Oil prices fell on Friday (October 24th) as skepticism crept into the market regarding the Trump administration's commitment to sanctions against Russia's two largest oil companies related to the war in Ukraine. Brent crude futures closed 5 cents,...
Gold prices pared losses on Friday (October 24) after slightly lower-than-expected US inflation data reinforced expectations that the Federal Reserve will cut interest rates next week, but the precious metal is still expected to post its first...
Following the final October meeting (October 28–29, 2025), the FOMC calendar still lists December 9–10, 2025. This means the Fed could technically...
Asia-Pacific markets rose Friday, after the White House said that U.S. President Donald Trump and China's President Xi Jinping were set to hold...
US stocks rebounded, with the three major indexes closing near record highs on Thursday (October 23rd). The S&P 500 rose 0.6%, the Dow Jones...
European stocks edged lower Friday afternoon after briefly hitting record intraday highs, as investors digested corporate earnings and economic data...