Gold price (XAU/USD) regains positive traction following the previous day's pullback from a two-week high and trades above the $3,300 mark during the Asian session on Friday.
Worries about the worsening US fiscal situations, renewed US-China trade tensions, and persistent geopolitical risks turn out to be key factors that continue to act as a tailwind for the safe-haven bullion.
Apart from this, the emergence of fresh US Dollar (USD) selling lends additional support to the commodity.
The initial market reaction to Thursday's mostly upbeat US economic data turned out to be short-lived amid US fiscal concerns.
Furthermore, the growing acceptance that the Federal Reserve (Fed) will lower borrowing costs at least twice this year weighs on the Greenback and drives flows toward the non-yielding yellow metal.
Nevertheless, the XAU/USD remains on track to register its best weekly gain in more than a month and the fundamental backdrop favors bullish traders.
Source: Fxstreet
Expectations that the Federal Reserve (The Fed) will cut interest rates have increased the appeal of gold, as yields on fixed-income assets (such as bonds) have become lower. The US dollar has weaken...
Gold rose on Friday (November 7) as expectations of further interest rate cuts from the Federal Reserve and lingering concerns over the US economic outlook amid the prolonged government shutdown boost...
Gold strengthened in the Asian session as signs of a fragile US economy emerged. US companies reported plans to cut more than 150,000 jobs last month—nearly triple the number in September—according to...
Gold (XAU/USD) edges lower on Thursday, after briefly reclaiming the key $4,000 psychological mark amid a weaker US Dollar (USD). At the time of writing, XAU/USD is trading around $3,985, easing from ...
Gold rose above the key $4,000 per oz level on Thursday (November 6th) as a weaker dollar and a prolonged US government shutdown raised concerns about the economic outlook. Spot gold prices rose 0.7%...
Crude prices recovered from a midday dip on Friday on hopes Hungary can use Russian crude oil as U.S. President Donald Trump met Hungary's Prime Minister Viktor Orban at the White House. Brent crude futures settled at $63.63 a barrel, up 25 cents...
US stocks rebounded from early losses to close mostly higher on Friday amid hopes that Congress members were making progress toward ending the government shutdown. The S&P 500 and the Dow Jones closed 0.3% higher, while the tech-heavy Nasdaq...
European stocks fell on Friday as investors digested more quarterly earnings, but weekly losses were inevitable, with concerns regarding overheated valuations evident. The DAX index in Germany dropped 0.8% and the CAC 40 in France declined 0.2%,...
European stocks fell on Friday as investors digested more quarterly earnings, but weekly losses were inevitable, with concerns regarding overheated...
Two weeks before the US Federal Reserve's final meeting, with the federal government's data taps closed, Atlanta Fed staff bolstered their economic...
Chicago Federal Reserve President Austan Goolsbee on Thursday said the lack of official data on inflation during the government shutdown...
Asian stocks slipped at the open on Friday (November 7), following a choppy session on Wall Street. The MSCI Asia Pacific Index fell about 0.2%, led...