Gold price (XAU/USD) prolongs the uptrend for the fourth consecutive day and climbs to a nearly two-week high, around the $3,344-3,345 area during the Asian session on Thursday.
Investors remain on edge following the US sovereign credit rating downgrade by Moody's and growing worries about rising US deficit on the back of US President Donald Trump's sweeping tax bill. Moreover, renewed US-China trade tensions, along with geopolitical risks, hit the global risk sentiment and continue to benefit the safe-haven precious metal.
Meanwhile, a poor response to the 20-year US bond auction reinforced the view that market participants are shying away from US assets.
Apart from this, the growing market acceptance that the Federal Reserve (Fed) will lower borrowing costs further in 2025 amid easing inflationary pressures and a sluggish economic growth outlook contributes to the prevalent US Dollar (USD) selling bias.
This turns out to be another factor driving flows towards the non-yielding Gold price and supports prospects for a further near-term appreciating move.
Source: Fxstreet
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data promp...
Gold prices strengthened on Wednesday, supported by a weaker US dollar and falling US bond yields after the latest economic data reinforced the narrative that the Federal Reserve is likely to continue...
Gold experienced a slight correction in the European session on Tuesday (February 10th), but remained above $5,000/oz as the market held its breath ahead of a series of US data that could alter intere...
Gold held above the psychological $5,000 level at the start of the week, supported by a combination of factors that are "right" for the precious metal : physical demand from China, expectations of low...
Gold prices are still struggling to turn an intraday rebound into a sustained rally. After briefly falling to $4,654 (a four day low) and rebounding, prices were again rejected near $4,900. In the Eur...
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...