Gold (XAU/USD) retreats slightly from the daily peak touched during the first half of the European session, though it sticks to the positive bias for the fourth straight day on Wednesday.
The US Dollar (USD) gains some positive traction following a two-day fall in the wake of Federal Reserve (Fed) Chair Jerome Powell's cautious remarks on potential interest rate cuts. This turns out to be a key factor acting as a headwind for the commodity.
Investors, however, seem convinced and are pricing in two more Fed rate cuts this year, which might hold back the USD bulls from placing aggressive bets and continue to act as a tailwind for the non-yielding yellow metal.
Moreover, rising geopolitical tensions and a slight deterioration in the global risk sentiment should contribute to limiting the downside for the safe-haven Gold, warranting caution before positioning for deeper losses.
Source: FXstreet
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...
Gold (XAU/USD) trades with a negative bias on Thursday, trimming recent gains after posting a fresh all-time high near $3,895 on Wednesday. At the time of writing, XAU/USD trades around $3,820 during ...
Gold rallied – after a five-day rally that reached a new record – as the US government shutdown deepened and traders increased bets on a Federal Reserve interest rate cut following weak private payrol...
Gold held steady near a record high on Thursday (October 2nd), as rising expectations of further US interest rate cuts this year and political uncertainty stemming from the controversial US government...
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 47,000 during the session, while the Nasdaq slipped 0.3% as the US government shutdown entered its...
Federal Reserve (Fed) Bank of Dallas President Lorie Logan struck a nervous tone on Friday, warning that despite a rapidly-weakening labor market, a lot of potential policy moves could accidentally spark another round of renewed inflationary...
If it just seems like the first Friday of the month wasn't the same without being able to pore through the Bureau of Labor Statistics' hotly watched monthly jobs report, don't worry. You probably didn't miss much. While the BLS has gone dark with...
The Institute for Supply Management's (ISM) data showed the Manufacturing PMI edging higher to 49.1 in September, up from 48.7 in August and...
The bottom line: The release of official US data is delayed because the federal government is currently in shutdown. While the budget hasn't been...
Asian markets opened higher, following a global rally that pushed world indexes to new records, despite the US entering its first government...
Europe's STOXX 600 closed at a record high on Wednesday, with healthcare stocks leading the way after a U.S.-Pfizer deal reduced uncertainty in the...