Gold prices pared earlier gains after the latest news revealed that the phone call between US President Donald Trump and his Chinese counterpart, Xi Jinping, was positive, with the two mainly discussing trade, according to Trump. At the time of writing, XAU/USD was trading at $3,350, down 0.72%.
Trump took to his social media to say that the call was positive, adding, "There should be no more questions about the complexity of the Rare Earth product."
He said that the US and Chinese teams will meet at a location to be determined. The news sent bullion prices lower, as risk appetite improved despite disappointing US economic data and increasing the chances of a Federal Reserve (Fed) rate cut this year.
The US Bureau of Labor Statistics revealed that, indeed, the labor market weakened as the number of Americans filing for unemployment benefits increased. Other data showed that the trade deficit narrowed in April, according to the US Bureau of Economic Analysis, as supplies of goods before tariffs began to ease.
The greenback pared some of its earlier losses, as indicated by the US Dollar Index (DXY). The DXY, which tracks the dollar against a basket of six other currencies, was little changed at 98.75.
Gold's confidence will depend on Friday's Nonfarm Payrolls (NFP) figures. If the data shows that the labor market remains solid, the yellow metal could weaken as the US dollar strengthens. If not, expect further gains in XAU/USD as investors become more convinced that the Fed could cut interest rates earlier than expected. (alg)
Source: FXstreet
Gold has eased below $3,950 an ounce after Fed Chair Powell warned a December cut is not a foregone conclusion, knocking market odds for another 25bp move and lifting the 10-year Treasury above 4%, wh...
Gold rebounded more than 1% on Wednesday (October 29th) as investors found the precious metal attractive after prices fell to a three-week low in the previous session, while the Federal Reserve's inte...
Gold prices began to stabilize on Wednesday after three consecutive days of decline. The precious metal was trading around $3,950 per ounce, ahead of a crucial meeting between US President Donald Trum...
AU/USD drops 0.63% to $3,955 after rebounding from three-week lows under $3,900 Gold price drops 0.63% on Tuesday during the North American session with the yellow metal suffering from its safe-haven...
Gold (XAU/USD) continued its decline on Tuesday (October 28th) as investors shifted away from safe-haven assets amid a resurgent risk-on sentiment. At the time of writing, XAU/USD was trading around $...
Gold has eased below $3,950 an ounce after Fed Chair Powell warned a December cut is not a foregone conclusion, knocking market odds for another 25bp move and lifting the 10-year Treasury above 4%, which raises the financing cost of holding...
The S&P 500 closed lower Wednesday after easing from intraday record high as the Federal Reserve cut interest rates, though cooled expectations about the certainty of further rate cuts ahead. The Dow Jones Industrial Average fell 73 points, or...
At the post-meeting press conference, Fed Chair Jerome Powell explained why policymakers had decided to lower the Federal Funds Target Range (FFTR) to 3.75%–4.00% after the October meeting and took questions from reporters about the move. Chief...
Asian stock markets opened higher on Wednesday (October 29th), buoyed by positive sentiment from Wall Street. Investors are confident that the...
The European session on Tuesday, October 28, 2025, opened on a more cautious note. After consecutive rallies and a new record on the STOXX 600...
European stocks continued to strengthen on Monday, October 27, 2025, as markets grew more confident after the US and China announced they had a...
Federal Reserve policymakers are widely expected to reduce U.S. short-term borrowing costs this week by a quarter of a percentage point for the...