Gold prices were stable in Tuesday-Wednesday morning trading, with bullion trading around US$4,135 per troy ounce. Market participants were weighing two key sentiments: hopes for a US interest rate cut and the possibility of a peace agreement in Ukraine. Delayed US economic data supported speculation that the Federal Reserve would cut interest rates at its next meeting, after retail sales rose only slightly in September and consumer confidence recorded its deepest decline since April.
The prospect of a lower interest rate environment was also reinforced by reports that Kevin Hassett, Director of the White House National Economic Council, had emerged as the frontrunner for the next Fed Chair and was seen as aligned with President Donald Trump's support for lower borrowing costs. This is fundamentally positive for gold, which typically benefits from low interest rates because it offers no yield.
However, gold's potential upside was tempered by media reports that Ukrainian officials had agreed to a plan to end the war with Russia, potentially reducing demand for safe-haven assets. At around 7:41 a.m. Singapore time, gold edged up 0.1% to US$4,135.08 per ounce. The Bloomberg Dollar Index ended down 0.3% in the previous session, while silver and palladium were relatively flat, and platinum gained slightly. (az)
Source: Newsmaker.id
Gold prices briefly caused a stir after hitting a new record, but then slowed. The main trigger: US President Donald Trump withheld the threat of tariffs on Europe and claimed there was a "framework" ...
Gold prices hit another record high, while silver held near its all-time high. This rise was driven by two major factors: the escalating Greenland crisis and turmoil in the Japanese government debt ma...
Gold prices remained near all-time highs on Tuesday, hovering around $4,670 per ounce. Demand for safe haven assets remained strong as US-European trade tensions escalated, prompting investors to refr...
Gold and silver hit new records after US President Donald Trump threatened to impose tariffs on eight European countries that oppose his Greenland plan. This situation immediately pushed investors int...
Gold price rises on Friday, poised to end with weekly gains of nearly 4% as an employment report in the US was mixed, with the economy adding fewer jobs than projected. Still, the Unemployment Rate ti...
Gold prices briefly caused a stir after hitting a new record, but then slowed. The main trigger: US President Donald Trump withheld the threat of tariffs on Europe and claimed there was a "framework" for a future agreement on Greenland. This calmer...
Oil prices were little changed in Asian trading on Thursday after US President Donald Trump backed down from a threat to impose tariffs on European countries over Greenland. This decision helped ease geopolitical tensions and improve market...
The Nikkei 225 Index climbed 1.73% to close at 53,689, while the broader Topix Index rose 0.74% to 3,616 on Thursday, snapping a five-day losing streak as Japanese shares were lifted by a strong rally in chip and artificial intelligence related...