Gold held near the highest in a month, as risk-off sentiment returned among investors watching the progress of trade negotiations ahead of US President Donald Trump's Aug. 1 tariff deadline.
Bullion traded near $3,395 an ounce after closing 1.4% higher in the previous session, as concerns about Trump's next trade moves reignited demand for havens. White House Press Secretary Karoline Leavitt on Monday said the president may issue more unilateral tariff letters before Aug. 1. The dollar had its worst day in nearly a month, making gold cheaper for most buyers.
Investors were also weighing the outlook for the Federal Reserve's interest-rate path ahead of next week's policy decision. Officials have recently expressed differing views on how Trump's tariff agenda will impact inflation, with Fed Governor Christopher Waller advocating for a rate cut even as most of his colleagues remain more cautious. Lower borrowing costs tend to benefit gold, as it doesn't pay interest.
Read More: Trump Threats Send Wall Street Hunting for Perfect Powell Hedge
Swaps markets show virtually zero possibility of a cut to Fed rates next week. For the rest of the year, traders are betting the Fed will lower by a total of 46 basis points, a level that's little changed from Friday.
Gold has climbed more than a quarter this year, as uncertainty around Trump's aggressive attempts to reshape global trade and conflicts in Ukraine and the Middle East spark flight to havens. The precious metal has been trading within a tight range over the past few months.
Spot gold was at $3,396.13 an ounce at 8:31 a.m. in Singapore. The Bloomberg Dollar Spot Index was little changed, after a loss of 0.5% in the previous session. Silver and platinum were steady, while palladium rose.
Source: Bloomberg
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...
Gold prices edged higher on Wednesday, holding above the critical $3,600-per-ounce level, buoyed by expectations of a U.S. interest rate cut this month, while key inflation reports due this week were ...
The Hang Seng Index fell 114 points, or 0.4%, to close at 26,086 on Thursday (September 11), halting a four-day rally and retreating from a four-year high amid broad sector weakness. Sentiment weakened after the New York Times reported that the US...
Oil prices held steady on Thursday (September 11th) as concerns over weakening US demand and the risk of a wider oversupply were offset by concerns over attacks in the Middle East and Russia's war in Ukraine. Brent crude futures fell 13 cents, or...
Brent oil prices weakened on Thursday (September 11th), falling towards the $66 per barrel range after a three-day rally ended. Selling pressure emerged as investors weighed the outlook for global energy demand amid economic uncertainty, including...
The United States (US) Bureau of Labor Statistics (BLS) will publish the 2025 preliminary benchmark revision to the Establishment Survey Data on...
Russian forces attacked a thermal power plant in the Kyiv region as part of an overnight attack, Ukraine's Energy Ministry said on Monday,...
The US Bureau of Labor Statistics reported on Tuesday that the preliminary estimate of the Current Employment Statistics (CES) national benchmark...
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...