Gold was steady in early Asian trade on the prospect of a Fed rate cut that would boost the appeal of the non-yielding precious metal. Fed Chair Powell told lawmakers on Tuesday that recent economic data would likely justify a rate cut if there were no concerns that higher tariffs could derail policymakers' efforts to combat inflation.
Two Fed officials, Christopher Waller and Michelle Bowman, have also recently indicated they could support a rate cut. "Gold prices are resilient on speculation about a U.S. rate cut," Thu Lan Nguyen, head of FX and Commodity Research at Commerzbank, said in a research note. Spot gold was little changed at $3,322.98/oz. (alg)
Source: Dow Jones Newswires
Gold prices gained in choppy trading on Monday, as a weaker dollar helped to offset pressure from improved risk appetite after United States and European Union announced a trade framework agreement. ...
Gold steadied after the US and European Union announced they had reached a tariff agreement, staving off some concerns about a potentially painful trade war between the economies. Bullion traded near...
Gold prices weakened on Friday, weighed down by a stronger U.S. dollar and signs of progress in U.S.-EU trade negotiations, which have dampened demand for safe-haven assets. Spot gold fell 0.9% to $3...
Gold prices weakened on Friday (July 25th), weighed down by a stronger US dollar and signs of progress in US-EU trade negotiations, which have reduced safe-haven demand. Spot gold fell 1% to $3,333.12...
Gold price (XAU/USD) extends its steady intraday descent through the first half of the European session and drops to a fresh daily low, back closer to the $3,350 level in the last hour. Thursday's US ...
European governments and companies reacted with a mix of relief and concern on Monday (July 28th) to the framework trade agreement reached with US President Donald Trump. They acknowledged what they considered an unbalanced deal, but managed to...
The leaders of Cambodia and Thailand met in Malaysia on Monday (July 28) to try to reach a ceasefire agreement on the fifth day of their fierce border conflict, amid international efforts to halt the fighting. The Southeast Asian neighbors,...
Oil prices edged higher on Monday (July 28th) as investors assessed the trade deal between the United States and the European Union, while a stronger US dollar and lower oil imports from India weighed on prices. Brent crude futures rose 30 cents,...
European stocks closed mostly lower on Friday (July 25th) as markets continued to monitor the latest corporate earnings reports while awaiting the...
The S&P 500 rose 0.4% on Friday (July 25), notching its fifth consecutive record close—its longest streak in more than a year—while the Nasdaq...
European Commission President Ursula von der Leyen said she will travel to Scotland this weekend to meet with US President Donald Trump, as both...
Orders placed with US factories for business equipment unexpectedly declined in June, suggesting companies remained cautious about capital spending...