Gold traded higher early on Friday as the dollar and treasury yields weakened. Gold for August delivery was last seen up US$17.80 to US$3,363.10 per ounce.
The price of the precious metal has traded in a tight range for most of July after touching a record high on June 13 as the outlook for further interest-rate cuts from U.S. Federal Reserve weakens as it waits to assess the impact of tariffs on inflation and employment.
"With our rates strategists pushing their call for the first cut from the Fed till December, and amidst outside pressure on Powell, we see both the macro drivers and geopolitical/political uncertainty supporting gold," Christopher Louney, a commodities strategist at RBC Capital Markets, noted.
The dollar weakened early, with the ICE dollar index last seen down 0.48 points to 98.25. Treasury yields also fell, with the U.S. two-year note last seen paying 3.88%, down 3.3 basis points, while the yield on the 10-year note was down 2.6 points to 4.431%(alg)
Sumber: MT Newswires
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...