Gold climbs during the North American session on Tuesday yet remains below the record high hit in the Asian session of $3,871. Amid fears of a US government shutdown, jobs data reaffirmed expectations of rate cuts by the Federal Reserve (Fed). XAU/USD trades at $3,846, up 0.35%.
Bullion steadies as US Dollar weakness underpins safe-haven demand
The latest Job Openings and Labor Turnover Survey (JOLTS) revealed by the Bureau of Labor Statistics (BLS) showed that US vacancies increased slightly but exceeded estimates. Meanwhile, the Conference Board's Consumer Confidence showed that Americans are growing pessimistic regarding current business and labor market conditions.
Bullion's rally is being boosted by broad US Dollar weakness, amid a looming federal government shutdown. In the meantime, US President Donald Trump said that he had a good discussion with Democratic Congressional leaders Schumer and Jeffriesbut said to expect a government shutdown.
The US Bureau of Labor Statistics (BLS) revealed on Monday that a shutdown would delay the announcement of jobs data.
Expectations that the Fed would reduce rates at the October 29 meeting remain high, standing at 96% for a 25-basis-point rate cut and a 4% chance of holding rates unchanged.
Ahead the docket will feature a flurry of Fed speakers, US ADP National Employment Change, the ISM Manufacturing PMI, Initial Jobless Claims and Nonfarm Payrolls for September.
Source: Fxstreet
Gold (XAU/USD) trims earlier losses on Tuesday, trading around $3,847 at the time of writing. The metal is regaining ground after dipping toward the $3,800 mark earlier in the day, recovering from a s...
Gold fell on Tuesday as investors booked profits after prices hit a record high earlier in the session, while concerns about a US government shutdown and growing speculation of a Federal Reserve inter...
Gold edges lower in early Asian trade on a likely technical correction. Front-month Comex gold for October settled 1.2% higher at a fresh record high on Monday. However, gold's decline may be limited...
Gold price advances close to 2% on Monday and trades near record highs of $3,833 as market participants seeking safety bought the yellow metal amid fears of a government shutdown in the United States....
Gold (XAU/USD) shines bright at the start of the new week, climbing past $3,800 for the first time and reaching a fresh record high. The yellow metal continues its historic run, printing yet another a...
Federal Reserve (Fed) Bank of Chicago President Austan Goolsbee noted on Tuesday that "short" government shutdowns tend to have a limited impact on the broader economy. The statements come at a time when the US government is barreling into a...
U.S. President Donald Trump will meet with his Argentine counterpart Javier Milei in two weeks, Argentina said on Tuesday, as Milei seeks to clinch a credit swap line from the U.S. that has rankled some Republicans as the South American nation...
The dollar fell on Tuesday following softer-than-expected economic data, as investors awaited a likely U.S. government shutdown that could disrupt the release of the monthly nonfarm payrolls report this week. Government funding expires at midnight...
Federal Reserve (Fed Bank of New York President John C. Williams hit the newswires on Monday, expressing his general cautiousness toward further...
The U.S. on Monday cracked down on companies in China and other countries that use subsidiaries or other foreign affiliates to get around curbs on...
Asia-Pacific markets traded mixed Tuesday with focus on the Reserve Bank of Australia's interest rate decision later in the day.
The RBA is...
Asia-Pacific markets traded mixed Monday, while the Reserve Bank of Australia will kickstart its two-day policy meeting where it is expected to hold...