The Gold price (XAU/USD) attracts some sellers to around $3,330 during the early Asian session on Monday. The precious metal edges lower after unexpectedly strong US Producer Price Index (PPI) data. Investors will closely monitor a meeting between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy later on Monday for further developments.
Hotter-than-expected PPI inflation data released on Thursday prompted traders to trim wagers on rate cuts by the Federal Reserve (Fed) in September, which creates a headwind for the yellow metal. The US Producer Price Index (PPI) rose 3.3% YoY in July, versus the 2.4% increase prior. This reading came in stronger than the expectations of 2.5% by a wide margin.
Furthermore, data released by the US Census Bureau on Friday showed that the US Retail Sales increased by 0.5% MoM in July, versus a rise of 0.9% seen in June (revised from 0.6%). This reading came in line with the market consensus.
However, the cautious mood in the market might boost the safe-haven flows and help limit gold's losses. Bloomberg reported on Sunday that US special envoy Steve Witkoff said that Trump and Russian President Vladimir Putin agreed on Ukraine security pledges.
Witkoff further stated that the deal did not enable Ukraine to achieve its goal of NATO membership, as Russia objected to NATO admission. Gold traders will take more cues from the Trump and Zelenskiy meeting later in the day as details from the US-Russia talks remain unclear.
Source: FXstreet
Gold prices hit an all-time high on Monday (October 6), surging above $3,900 an ounce, as investors flocked to safe-haven assets amid the US government shutdown, broader economic uncertainty, and the ...
Gold prices hit an all-time high on Monday (October 6), soaring above $3,900 an ounce, as investors flocked to safe-haven assets amid the US government shutdown, broader economic shutdown, and the pro...
Gold prices hit a new record early this week, hitting $3,920 per ounce on Monday, October 6, 2025, before a slight correction. This surge fueled investor concerns over the ongoing US government shutdo...
Gold prices held steady on Friday (October 3), poised for a seventh consecutive weekly gain, driven by expectations of further US interest rate cuts and concerns over the economic impact of a prolonge...
Gold edges higher in early Asian trade, aided by risks that the U.S. government shutdown may weaken the economy, potentially prompting more Fed rate cuts that would bolster the appeal of the non-inter...
Euro Area Stock MarketEuropean stocks closed mostly lower on Monday as fresh political turmoil in France rekindled concerns of fiscal instability among the Eurozone's largest economies. The Eurozone's STOXX 50 dropped 0.3% to 5,633 and the...
Silver climbed above $48.3 per ounce on Monday, its highest level since April 2011, as the ongoing US government shutdown and expectations of further Federal Reserve rate cuts boosted demand for safe-haven assets. Lawmakers once again failed to...
US stocks were higher on Monday, with the S&P 500 up 0.3%, the Nasdaq gaining 0.5%, and the Dow Jones rising roughly 60 points, as AI-related partnerships continued to support investor sentiment. AMD shares soared more than 30% after the...
The S&P 500 closed mostly flat on Friday, the Dow Jones extended its record run, rising 240 points finisheing at 46,758 after briefly surpassing...
Asian stocks surged to new highs, led by Japan's Nikkei 225, which surged more than 4% following the election of pro-stimulus lawmaker Sanae...
Hamas officials were in Egypt on Monday (October 6th) ahead of talks with Israel that the US hopes will lead to an end to the war in Gaza and the...
European stocks moved steadily at the start of the week, while the French CAC 40 index fell 0.7%. This decline occurred after President Emmanuel...