Gold prices held steady after weak US employment data failed to alter market expectations for an interest rate cut. The precious metal had fallen moderately in the previous session, halting its five-day uptrend.
Gold bullion was trading around US$4,305 per ounce. The latest data showed the US labor market continuing to cool. However, market participants believe the Federal Reserve is not paying much attention to the data due to disruptions caused by the government shutdown.
Last week, the US central bank cut interest rates for the third consecutive time. This supported gold prices because this asset does not yield interest. The probability of a further interest rate cut in January is estimated at nearly 25%, while the market now awaits the release of inflation data and statements from key Fed officials.
In morning trading in Singapore, gold prices edged up 0.1% to US$4,306.05 per ounce. This remains close to the record high set last October. Meanwhile, silver and platinum prices weakened slightly, palladium strengthened, and the US dollar index closed slightly lower in the previous session. (az)
Source: Newsmaker.id
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data promp...
Gold prices strengthened on Wednesday, supported by a weaker US dollar and falling US bond yields after the latest economic data reinforced the narrative that the Federal Reserve is likely to continue...
Gold experienced a slight correction in the European session on Tuesday (February 10th), but remained above $5,000/oz as the market held its breath ahead of a series of US data that could alter intere...
Gold held above the psychological $5,000 level at the start of the week, supported by a combination of factors that are "right" for the precious metal : physical demand from China, expectations of low...
Gold prices are still struggling to turn an intraday rebound into a sustained rally. After briefly falling to $4,654 (a four day low) and rebounding, prices were again rejected near $4,900. In the Eur...
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...