Gold (XAU/USD) is trading within a tight range on Thursday, consolidating between $3,360 and $3,400.
These levels have repeatedly served as key short-term support and resistance over recent sessions.
With the United States (US) observing the Juneteenth holiday, lower trading volumes have resulted in subdued price movements, although underlying risks remain pronounced.
Geopolitical tensions persist as significant drivers of Gold prices. Russia has issued a stark warning against potential US military involvement in Iran, describing it as an "extremely dangerous step" with "unpredictable negative consequences."
Meanwhile, Israeli Defense Minister Israel Katz emphasized the need for intensified attacks following recent escalations, underscoring ongoing risks tied to the Israel-Iran conflict.
Katz specifically targeted Iranian Supreme Leader Khamenei, asserting the goal to neutralize nuclear and missile threats.
On the economic front, Gold prices face pressure from renewed US Dollar strength following the Federal Reserve's latest policy update. Although the Fed held interest rates steady at 4.25%–4.50 % on Wednesday, Chair Jerome Powell's unexpectedly cautious commentary suggested that monetary policy might remain tighter than anticipated.
Long-dated US Treasury yields declined, but short-term yields rose, reflecting lingering concerns about inflation.
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...
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...
The Trump administration suspended docking fees for Chinese-built ships as part of a "trade truce" last month. The move has drawn criticism for...