Gold climbed to $3,445 per ounce on Friday, nearing April's record of $3,500, and is set for a second weekly gain, as investors sought refuge amid uncertainty over US monetary policy. Concerns that political pressure on the Federal Reserve could accelerate interest rate cuts have bolstered prices, with markets largely pricing in a 25 bps reduction in September.
Fed Governor Christopher Waller also signaled support for starting rate cuts next month, saying he "fully expects" further reductions to bring policy closer to neutral, echoing the stance of his colleagues. Meanwhile, US consumer spending rose in July by the most in four months, indicating resilient demand in the face of stubborn inflation.
The so-called core PCE price index, which excludes food and energy items and is favored by the Federal Reserve, rose 0.3% from June. From the prior year, the gauge picked up to 2.9%, the most since February. Gold has gained about 4% in August, its best monthly performance since April.
Source: trading Economi
Gold held steady early Friday (August 29th), despite a strengthening dollar, as a key US inflation indicator held steady last month, meeting market expectations but failing to dampen hopes for an upco...
Gold prices weakened slightly on Friday (August 29th), but are expected to post a monthly gain ahead of US inflation data that will provide more clues about the Federal Reserve's rate cut path. Spot ...
Gold hovered around $3,410 per ounce on Friday, near its highest level in over a month, and is on track for a second consecutive weekly gain, sustained by a softer US dollar and safe-haven demand. The...
Gold prices are flat in early Asian trade. Geopolitical tensions, renewed trade frictions and dented global sentiment have kept investors leaning on the yellow metal as a safe haven, Phillip Nova anal...
Gold (XAU/USD) extends its advance for a third straight session on Thursday, trading near a more than five-week high, buoyed by a softer US Dollar (USD) and subdued Treasury yields. The precious metal...
Oil prices fell on Friday as traders looked toward weaker demand in the U.S., the world's largest oil market, and a boost in supply this autumn from OPEC and its allies. Brent crude futures for October delivery, which expired on Friday, settled at...
Indonesia's central bank will remain active in the foreign exchange market to stabilise the rupiah, it said on Friday, while the stock exchange regulator said market fundamentals remained strong despite a sudden fall in prices. The rupiah dropped...
A U.S. appeals court ruled on Friday that most of President Donald Trump's global tariffs were illegal, finding he exceeded his authority when imposing them. A panel of judges in Washington upheld an earlier decision by the Court of International...
New York Federal Reserve Bank President John Williams indicated on Wednesday that interest rates could decrease at some point, but emphasized that...
Russia launched a massive drone attack on energy and gas transportation infrastructure in six Ukrainian regions overnight, leaving more than 100,000...
Europe's STOXX 600 recovered slightly on Wednesday after a selloff in the previous session, as investors eyed political risks in France and awaited...
The French prime minister's decision to hold a confidence vote next month carries heavy risks for the economy, bringing back fears of recession,...