Gold price dropped by over 0.26% during the North American session on Thursday, trimming some of its earlier losses of nearly 1%. The release of solid economic data from the United States, which supports the Federal Reserve's (Fed) stance to hold rates unchanged at the upcoming July meeting, contributed to this decline. At the time of writing, XAU/USD trades at $3,340.
The market mood remains positive throughout the trading day, which serves as a headwind for Gold prices, as investors digest the latest job and consumer data. Initial Jobless Claims for the last week continued to show improvement in the labor market. At the same time, Retail Sales data indicated that American households remain resilient, although the data suggest that the jump in sales is mainly attributed to higher prices.
After the data, some Fed officials crossed the wires. Governor Adriana Kugler commented that monetary policy needs to remain steady for quite some time. San Francisco Fed President Mary Daly stated that there's some work to be done on inflation, as they have not yet achieved price stability.
In the meantime, investors continued to price in less easing by the Fed as further data became available, which dampens the demand for the non-yielding metal. The December 2025 fed funds rates futures contract shows that traders expect 42 basis points (bps) of easing, as revealed by the CBOT.
On the trade side, Japan's negotiator Ryosei Akazawa held talks with the US Commerce Secretary Howard Lutnick in efforts to avert or diminish 25% tariffs imposed on Japanese products.
Ahead this week, traders will eye Fed speeches and the University of Michigan Consumer Sentiment report.
Source: Fxstreet
Gold weakened slightly on Thursday (September 11), but held near record highs well above $3,600, as a modest dollar recovery and profit-taking weighed on prices, while investors awaited US consumer in...
Gold held steady just below its record, around $3,645/oz, after an unexpected decline in US producer prices (PPI) fueled hopes of Fed policy easing. The market now awaits the release of US CPI data Th...
Gold price surges on Wednesday, up by over 0.60%, folllowing US inflation data, which increased speculation that the Federal Reserve (Fed) will resume its easing cycle at the upcoming September meetin...
Gold surged near a record high of $3,650 an ounce on Wednesday (September 10) after an unexpected decline in US producer prices reinforced expectations that the Federal Reserve will continue cutting i...
Gold prices hovered near an all-time high on Wednesday, buoyed by expectations of a U.S. interest rate cut this month, while market participants awaited U.S. inflation data for clues on the Federal Re...
Less than four months ago, President Donald Trump met with Qatar's leader, praised his magnificent palace, and signed a comprehensive defense agreement with the Gulf monarchy, a key ally that hosts the largest US base in the Middle East. Israel's...
Gold weakened slightly on Thursday (September 11), but held near record highs well above $3,600, as a modest dollar recovery and profit-taking weighed on prices, while investors awaited US consumer inflation data due later in the day. Spot gold...
Gold prices weakened on Thursday (September 11th) after hitting a new record earlier this week. Selling pressure emerged as the US dollar strengthened and bond yields rose, reducing the precious metal's appeal as a hedge. Investors tended to take...
The United States (US) Bureau of Labor Statistics (BLS) will publish the 2025 preliminary benchmark revision to the Establishment Survey Data on...
The Federal Reserve is likely to start a series of interest-rate cuts next week and keep going through the end of the year, traders bet on Wednesday...
Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), fell to 2.6% annually in August from 3.3% in...
The US Bureau of Labor Statistics reported on Tuesday that the preliminary estimate of the Current Employment Statistics (CES) national benchmark...