Gold prices held firm as momentum for a US interest rate cut solidified after Fed Chairman Jerome Powell opened the door to a September rate cut. Gold reached nearly $3,370 per troy ounce, extending Friday's 1.1% gain when Powell raised risks to the labor market at Jackson Hole despite lingering inflation concerns.
The 2-year Treasury yield—which is sensitive to policy—fell, while the dollar strength index weakened after the comments, boosting non-yielding, USD-priced gold. Derivatives market participants now rate the probability of a September rate cut above 85%, but the policy direction after that remains unclear given that inflation remains above target and employment data shows weakness.
Powell described the economy as being in a "challenging situation" and hinted at whether President Donald Trump's tariffs could reignite inflation more systematically. Gold has gained more than a quarter this year, meeting demand for a hedge against geopolitical tensions and central bank buying. However, CFTC data showed hedge funds trimming bullish positions to a six-week low. This morning in Asia, spot gold traded slightly around $3,369; silver and platinum were relatively flat, while palladium gained slightly.
Source: Bloomberg
Gold edged lower on Monday morning as the dollar and yields strengthened after Friday's decline after Federal Reserve Chairman Jerome Powell signaled an interest rate cut was imminent. Gold for Decem...
Gold edged lower on Monday (August 25th) as the dollar strengthened, weakening from a two-week high reached in the previous session after comments from US Federal Reserve Chairman Jerome Powell reinfo...
Gold price (XAU/USD) drifts lower to around $3,350 during the early European session on Monday(25/8), pressured by a stronger US Dollar (USD). Nonetheless, rising optimism of a September rate cut foll...
Gold slipped on Monday from a near two-week high, as the dollar crept higher, although increased expectations of U.S. interest rate cuts following Federal Reserve Chair Jerome Powell's dovish pivot la...
Gold prices continue to trend higher on Friday after the Federal Reserve (Fed) leaned dovish, as commented by the Fed Chair Jerome Powell, who said that "downside risks to the labor market are rising....
Sales of new single-family homes in the United States eased by 0.6% from the previous month to a seasonally adjusted annualized rate of 652,000 units in July of 2025, trimming the revised 4.1% increase in the earlier period and above market...
U.S. equities fell slightly on Monday after the Dow Jones Industrial Average catapulted to intraday and closing records, and as investors looked ahead to Nvidia earnings. The 30-stock Dow dropped 121 points, or 0.3%. The S&P 500 shed 0.2%,...
Gold edged lower on Monday morning as the dollar and yields strengthened after Friday's decline after Federal Reserve Chairman Jerome Powell signaled an interest rate cut was imminent. Gold for December delivery last traded down US$5.70 at...
European stock markets closed higher on Friday, as investors continued to assess the full scope of the European Union's trade deal with America and...
Investors cheered Federal Reserve Chair Jerome Powell's Jackson Hole address, which gave a green light to buy risky assets on the hope the central...
President Donald Trump said he would fire Lisa Cook from the Federal Reserve's Board of Governors if she does not resign...
US stocks soared on Friday after Fed Chair Powell signaled the possibility of a September rate cut during his Jackson Hole speech, sparking the...