Monday, 04 August 2025
Jakarta
--:--
Tokyo
--:--
Hongkong
--:--
New York
--:--
Gold Rises As Dollar Weakens After Moody's Downgrades U.S. Ratings
Monday, 19 May 2025 23:27 WIB | GOLD |GOLDEMAS

Gold rose as the dollar slumped after Moody's Ratings removed the U.S.'s last top credit rating because of ballooning debt and deficits.

Moody's blamed successive administrations and Congress for ballooning budget deficits that it said showed no sign of abating. And there are concerns the situation could get worse, with Republican lawmakers debating President Donald Trump's tax and spending package that critics say will add trillions more to the federal debt over the next decade.

The precious metal has been on a roller coaster in recent months. It suffered its biggest weekly loss since November last week as geopolitical tensions eased, after a sharp rally that saw it rise above $3,500 an ounce for the first time last month.

Gold is still up more than a fifth this year, boosted by global conflicts, Trump's tariff spree and inflows into exchange-traded funds. "We expect gold to be volatile in the short term because we are seeing a mix of good and bad headlines," said Vasu Menon, managing director of investment strategy at Oversea-Chinese Banking Corp. In the long term, Trump's policies and diversification away from dollar-denominated assets are "structural drivers for gold that could see it reach new heights in the next few years," he said.

Gold rose 0.8% to $3,229.01 an ounce at 12:22 p.m. in New York. The Bloomberg Dollar Spot Index fell 0.5%. Silver, palladium and platinum all advanced. (Newsmaker23)

Source: Bloomberg

RELATED NEWS
Gold soars as dismal US NFP data and Russia tensions spark safe-haven demand...
Saturday, 2 August 2025 04:51 WIB

Gold price rallies more than 1.50% on Friday following the release of a dismal Nonfarm Payrolls (NFP) report in the United States (US), which showed the jobs market is cooling faster than expected. Al...

Gold Surges As Weak Jobs Data Fuels Fed Rate Cut Speculation ...
Friday, 1 August 2025 20:14 WIB

Spot gold prices rose more than 1%, surpassing $3,340 an ounce on Friday (August 1), as the latest U.S. jobs report reinforced evidence of a cooling labor market and strengthened expectations of a Fed...

Gold Set For Third Weekly Loss Amid Dollar Strength And Dwindling Fed Rate Cut Expectations ...
Friday, 1 August 2025 17:18 WIB

Gold prices held steady on Friday (August 1st), but were set for a third consecutive weekly loss due to pressure from a stronger dollar and diminishing expectations for a US interest rate cut, while u...

Gold heads for weekly loss on stronger dollar ...
Friday, 1 August 2025 13:38 WIB

Gold prices ticked higher on Friday, supported by uncertainty stemming from a slew of U.S. tariffs slapped on trading partners, although a stronger dollar kept bullion on track for a weekly loss. Spo...

Gold Flat as Fresh Tariffs Lift Dollar ...
Friday, 1 August 2025 10:25 WIB

Gold prices were muted around $3,290 per ounce on Friday and were on track for its worst weekly performance since late June, pressured by a stronger US dollar following President Trump's introduction ...

LATEST NEWS
AUD/USD slips despite soft NFP as RBA rate cut

The Australian Dollar (AUD) remains under pressure against the US Dollar (USD) on Friday, giving back most of its earlier gains despite broad weakness in the Greenback following a disappointing Nonfarm Payrolls (NFP) data. The AUD/USD initially...

Oil falls $2 a barrel on worries about OPEC+ supply, US jobs data

Oil prices $2 a barrel on Friday because of jitters about a possible increase in production by OPEC and its allies, while a weaker-than-expected U.S. jobs report fed worries about demand. Brent crude futures settled at $69.67 a barrel, down $2.03,...

Yen primed for multi-year rally

The yen has suffered a difficult month, but BCA Research thinks the Japanese currency is primed for a multi-year rally. At 08:30 ET (12:30 GMT), USD/JPY traded 0.2% lower at Y150.49, having earlier in the session climbed as high as Y150.91, the...

POPULAR NEWS
US Non-Farm Payrolls Fall Short of Expectations
Friday, 1 August 2025 19:36 WIB

US non-farm payrolls rose by 73,000 in July 2025, after being revised down by 14,000 in June and well below the 110,000 estimate. The upward trend...

European Stocks Lower to Kick Off August
Friday, 1 August 2025 14:57 WIB

The STOXX 50 dropped 1.1% and the STOXX 600 declined 0.8% on the first trading day of August, which coincided with the deadline for countries to...

U.S. Sets Lower 19% Tariff on Malaysian Exports After Talks
Friday, 1 August 2025 12:41 WIB

U.S. President Donald Trump has imposed a 19% tariff on exports from Malaysia to the U.S., lower than the 25% rate he initially threatened in July....

European Equities Tumble in Friday Trading; EU Inflation Rises 2%
Saturday, 2 August 2025 00:31 WIB

The European stock markets closed sharply lower in Friday trading as The Stoxx Europe 600 fell 1.8%, Germany's DAX dropped 2.5%, the FTSE 100 was...