Gold price (XAU/USD) attracts some buyers for the second straight day on Thursday and retains its positive bias through the first half of the European session.
The US Dollar (USD) selling remains unabated amid reports that US President Donald Trump was considering replacing Federal Reserve (Fed) Chair Jerome Powell, fueling concerns about the future independence of the central bank.
Adding to this, bets that the Fed will resume its rate-cutting cycle as early as July drags the USD to over a three-year low and benefits the non-yielding yellow metal.
Meanwhile, the latest optimism over a ceasefire between Israel and Iran continues to underpin the global risk sentiment. This, in turn, might hold back the XAU/USD bulls from placing aggressive bets and cap any further gains.
Hence, it will be prudent to wait for strong follow-through buying before confirming that the Gold price has bottomed out and positioning for a further recovery from sub-$3,300 levels, or a two-week low touched on Tuesday. Traders now look forward to US macro data and speeches by influential FOMC members for a fresh impetus.
Source: FXStreet
Gold prices rose more than 1% on Wednesday (November 5), with a slight weakening of the US dollar and widespread risk-off sentiment boosting demand. Spot gold rose 0.8% to $3,966.54 per ounce as of 1...
Gold prices rise in early trading as investors await U.S. private payroll data for cues on the Federal Reserve's next policy move. Futures in New York are up 0.9% to $3,991.60 a troy ounce. "Gold pri...
Gold edges higher on a possible technical recovery after front-month gold futures settled down 1.3% overnight. It shouldn't be a big surprise to see the precious metal consolidating in a lower $3,800-...
Gold slipped slightly Tuesday, pressured by a stronger U.S. dollar and lingering uncertainty over the Federal Reserve's next policy move. Spot gold fell 0.8% to $3,970.08 per ounce and U.S. Gold Futu...
Gold held steady amid disagreements among three Federal Reserve policymakers over the next interest rate cut next month, with the U.S. dollar trading near its highest level in months. The price of bu...
American consumers struggling to access food assistance payments due to the government shutdown are unable to fill their shopping carts, and that's "hurtful," according to the company behind Stop & Shop and Food Lion grocery stores. The US...
Gold prices rose more than 1% on Wednesday (November 5), with a slight weakening of the US dollar and widespread risk-off sentiment boosting demand. Spot gold rose 0.8% to $3,966.54 per ounce as of 10:44 GMT. US gold futures for December delivery...
The Institute for Supply Management (ISM) is scheduled to release its October Services Purchasing Managers' Index (PMI) on Wednesday. The report, a trusted measure of business performance and widely considered a leading indicator of economic...
Asian stocks opened lower on Tuesday, reversing Wall Street's rally fueled by Amazon's massive $38 billion deal with OpenAI. Stock markets in South...
The economic activity in the United States' (US) manufacturing sector continued to contract in October, with the Institute for Supply Management's...
European stocks opened slightly higher in November, with the STOXX 50 and STOXX 600 gaining 0.2%, after closing near record highs in October....
Asian stock markets moved mixed on Monday, November 3, 2025. Japan led the gains: the Nikkei 225 remained near its record high of around 52.4...