Gold now picks up extra pace and surpasses the $3,510 mark per troy ounce, reaching a record highs, always on the back of investors' rising perception of a couple of rate cut bets by the Federal Reserve in the next few months
Rising bets that the Federal Reserve will cut interest rates this month push the Gold price higher for the sixth straight day, to levels beyond the $3,500 psychological mark or a fresh all-time peak during the Asian session on Tuesday.
US Treasury Secretary Scott Bessent defended US President Donald Trump's decision to fire Fed Governor Lisa Cook over allegations of mortgage fraud. Moreover, Trump has criticised Fed Chair Jerome Powell for not lowering rates.
This adds to worries about the Fed's independence, which might keep a lid on any attempted US Dollar recovery from the vicinity of August monthly swing lows, retested on Monday, and further benefit the non-yielding yellow metal.
A US federal appeals court ruled on Friday that Trump's reciprocal tariffs were illegal. Trump has made it clear the next stop will be the Supreme Court, adding a layer of uncertainty in the markets and underpinning the safe-haven bullion.
An escalation of the conflict between Russia and Ukraine, and in the Middle East, keeps the geopolitical risks in play. This is seen as another factor lending support to the XAU/USD pair and backs the case for a further appreciating move.
Traders now look forward to important US macro releases scheduled at the beginning of a new month, starting with the ISM Manufacturing PMI on Tuesday, for more cues about the Fed's rate cut path and a fresh directional impetus.
This week's US economic docket also features JOLTS Job Openings on Wednesday, followed by the ADP report on private-sector employment and ISM Services PMI on Thursday, ahead of the Nonfarm Payrolls (NFP) report on Friday.
Source: Fxstreet
Gold prices soar to a new all-time high past the $3,500 figure on Tuesday, rallying more than 2% even though the US Dollar advances and US Treasury yields rise. Risk aversion dominates, despite foreca...
Gold (XAU/USD) weakened on Tuesday after briefly surging to an all-time high of $3,508 per ounce during the Asian session as a rebound in the US dollar and Treasury yields triggered mild profit-taking...
Gold briefly hit a record high as the prospect of a US interest rate cut and growing concerns over the Federal Reserve's future provided fresh impetus to the precious metal's multi-year rally. Gold b...
The spot gold price strengthened again and set a new record in trading on Tuesday (September 2nd) morning, reaching US$3,505 per ounce—its highest level ever. Market sentiment was driven by strong exp...
Gold prices rose to an over four-month high on Tuesday and were close to a record high as safe haven demand was boosted by heightened uncertainty over U.S. President Donald Trump's trade tariffs. Per...
The Euro tumbles late in the North American session, down by over 0.60% due to a risk-off mood triggered by threats to the independence of the Federal Reserve (Fed) and controversial US policy. Concerns over fiscal deterioration in many countries...
Oil prices settled up more than 1% a barrel on Tuesday after the U.S. imposed sanctions targeting Iran's oil revenue stream, and ahead of an OPEC+ meeting on Sunday where analysts expect the group will not unwind remaining voluntary cuts. Brent...
In his first press conference in a week, President Donald Trump dismissed rumors of his death circulating on social media. In a casual tone, Trump called the reports "fake news," while emphasizing that he was actively engaging through interviews,...
Sepanjang pekan terakhir, pasar komoditas mencatat pergerakan yang dinamis, khususnya pada logam mulia dan minyak mentah. Harga perak bertahan...
European bourses opened September in positive territory, with both the STOXX 50 and STOXX 600 rising nearly 0.3% after modest gains in August....
Asia-Pacific markets traded mixed Monday as investors assess China's RatingDog manufacturing data for August. The metric - which was previously...
U.S. Treasury Secretary Scott Bessent defended President Donald Trump's removal of Federal Reserve Governor Lisa Cook, saying the central bank has...