Gold prices (XAU/USD) continued to rise throughout the Asian session on Wednesday (5/2) and climbed to an all-time high, around the $2,858 region in the last hour.
Concerns about the economic impact of US President Donald Trump's trade tariffs continued to support demand for the safe-haven bullion. Further, expectations that the Federal Reserve (Fed) will maintain its easing cycle, supported by signs of slowing momentum in the US labor market, contributed to driving flows towards the non-yielding yellow metal.
Meanwhile, the US Dollar (USD) languished near weekly lows amid prospects of further policy easing by the Fed and turned out to be another factor providing additional support to Gold prices.
That said, Trump's decision to delay tariffs on Canada and Mexico remains supportive of risk sentiment, which could cap upside for XAU/USD amid slightly overbought conditions on the daily chart. Hence, it would be prudent to wait for a near-term consolidation or a slight pullback before positioning for an extension of the recent upward trajectory. Traders now look forward to the US ADP report on private sector employment and the US ISM Services PMI for some impetus.
Source: FXStreet
Gold prices recovered on Thursday after the Federal Reserve (Fed) held rates unchanged, as the August 1 trade deadline imposed by US President Donald Trump looms. The Greenback remains steady on a tra...
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 prices recovered on Thursday after the Federal Reserve (Fed) held rates unchanged, as the August 1 trade deadline imposed by US President Donald Trump looms. The Greenback remains steady on a tranche of good economic data, though the XAU/USD...
The European stock markets closed lower in Thursday trading as the FTSE 100 in London slid 0.05%, Germany's DAX dropped 0.73%, France's CAC 40 fell 1.14%, The Stoxx Europe 600 slipped 0.71%, and the Swiss Market Index lost 0.8%. The...
The dollar was poised for its first monthly gain of the year against major currencies on Thursday, underpinned by easing trade tensions and U.S. economic resilience. In a widely expected move, the Bank of Japan on Thursday kept short-term interest...
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...
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...
The Dow Jones Industrial Average (DJIA) tested all-new record highs early Monday, clipping into the high side in early trading before the weight of...