Gold (XAU/USD) prices extended its decline to near $2,695 during the early Asian session on Monday (1/20). A stronger US dollar (USD) ahead of President-elect Donald Trump's inauguration exerted selling pressure on the yellow metal.
Analysts expect gold prices to face volatility ahead of Trump's inauguration. Traders will be watching developments surrounding potential trade policies. Any aggressive comments from Trump on using trade tariffs to support the US manufacturing sector could lift the greenback and weigh on the USD-denominated commodity.
However, last week's weaker-than-expected US inflation data could support the precious metal as it could fuel speculation of more than one interest rate cut from the US Federal Reserve (Fed). Traders are looking ahead to Trump's inauguration on Monday for fresh catalysts on executive orders he will issue after he takes office. "Uncertainty over the policies that President Trump will set has been one of the factors supporting gold," said David Meger, director of metals trading at High Ridge Futures.
Additionally, persistent geopolitical tensions in the Middle East and the ongoing Russia-Ukraine conflict could boost safe haven flows, benefiting Gold prices. The Guardian reported that the Russian military captured two more settlements in the Donetsk region of eastern Ukraine on Saturday, the latest in a series of gains it has reported in its steady advance westward. (AL)
Source: FXstreet
Gold prices hit another record high on Tuesday (December 7th), driven by strong investment demand amid widespread geopolitical and economic uncertainty, with additional support from expectations of fu...
Gold (XAU/USD) retreats slightly after touching a fresh all-time high earlier this Tuesday, though any meaningful corrective slide seems elusive amid a supportive fundamental backdrop. The US Dollar ...
Gold buyers appear unstoppable at the start of a fresh week, early Monday, despite the renewed US Dollar (USD) upswing and a risk-on rally on global stocks. Gold is finding demand due to increased sa...
Gold prices hit an all-time high on Monday (October 6), surging above $3,900 an ounce, as investors flocked to safe-haven assets amid the US government shutdown, broader economic uncertainty, and the ...
Gold prices hit an all-time high on Monday (October 6), soaring above $3,900 an ounce, as investors flocked to safe-haven assets amid the US government shutdown, broader economic shutdown, and the pro...
European stock markets edged mostly lower on Tuesday, as investors kept tabs on ongoing political turbulence in France and the United States that threatened to dampen enthusiasm around artificial intelligence dealmaking. The pan-European Stoxx 600...
Silver traded around $48.10 per ounce, retreating from the multi-year high touched on October 6th amid profit-taking as a firmer yield backdrop raised the metal's opportunity cost. The Treasury curve ticked up, making a non-yielding asset less...
Systematic hedge funds have lost money every day since October began, according to a Goldman Sachs client note. These speculators, whose algorithms ride market trends until they peter out and who use market signals rather than views on the...
Asian stocks surged to new highs, led by Japan's Nikkei 225, which surged more than 4% following the election of pro-stimulus lawmaker Sanae...
The S&P 500 and Nasdaq Composite closed at record highs on Monday, spurred by optimism about increased mergers and acquisitions activity after...
Hamas officials were in Egypt on Monday (October 6th) ahead of talks with Israel that the US hopes will lead to an end to the war in Gaza and the...
Euro Area Stock MarketEuropean stocks closed mostly lower on Monday as fresh political turmoil in France rekindled concerns of fiscal instability...