Gold (XAU) price retreats as the week begins, down 0.70% and falls below the $2,900 figure as investors' fears of a recession in the United States (US) grow amid controversial trade policies implemented by the US President Donald Trump.
At the time of writing, the XAU/USD pair trades at $2,890 after hitting a daily high of $2,918.
Wall Street continued to edge lower, depicting a dismal market sentiment due to the ongoing economic slowdown.
On Friday, Trump appeared in an interview and said, "There is a period of transition, because what we're doing is very big. …We're bringing wealth back to America. …That's a big thing, and there are always periods; it takes a little time."
In the meantime, Gold traders booked profits amid concerns that the US economy is facing the challenges of a stagflationary scenario. Recent data suggests the economy is slowing down sharply.
The Atlanta Fed GDP Now model predicts the first quarter of 2025 at -2.4%, which would be the first negative print since the COVID-19 pandemic.
Source: FXStreet
Gold prices scaled a fresh peak on Tuesday, as a weaker dollar and a dip in bond yields amid growing bets for a Federal Reserve rate cut this month lifted demand for the precious metal. Spot gold gai...
Gold held near its latest record reached on Monday, with its rally stoked by a surge in bets for a wave of Federal Reserve rate cuts this year. Bullion was little changed in early Asian trading...
Gold (XAU/USD) begins the week on an impressive bullish note, soaring to fresh all-time highs above $3,600 per ounce on Monday. The move extends last week's rally amid growing conviction that the Fed...
Gold's rally extended beyond the $3,600 level for the first time on Monday after weak US employment data reinforced expectations of a Federal Reserve interest rate cut next week. Spot gold rose 0.9% ...
Gold prices rose to a record high on Monday (September 8th), breaking through the key $3,600 level after weak US employment data reinforced expectations of an interest rate cut by the US Federal Reser...
Gold prices hit a new record on Tuesday (September 9), driven by a weakening dollar and falling bond yields amid growing speculation of a Fed interest rate cut this month. Spot gold rose 0.4% to $3,651.38 per ounce, while December futures rose to...
European stocks edged higher on Tuesday, extending gains into a second session, with the STOXX 50 up 0.2% and the STOXX 600 advancing 0.5%. Investors weighed a fresh round of corporate news while keeping a close watch on France's deepening...
Japan stocks were lower after the close on Tuesday, as losses in the Paper & Pulp, Transport and Communication sectors led shares lower. At the close in Tokyo, the Nikkei 225 lost 0.41%. The best performers of the session on the Nikkei 225...
The United States (US) Bureau of Labor Statistics (BLS) will publish the 2025 preliminary benchmark revision to the Establishment Survey Data on...
Russian forces attacked a thermal power plant in the Kyiv region as part of an overnight attack, Ukraine's Energy Ministry said on Monday,...
Asia-Pacific markets traded mostly higher Monday as investors assessed the resignation of Japan's prime minister and eyed key economic data in the...
Wall Street kicked off the week with gains on Monday as investors positioned ahead of a data-heavy week that includes two key inflation reports...