Gold held steady early Friday (August 29th), despite a strengthening dollar, as a key US inflation indicator held steady last month, meeting market expectations but failing to dampen hopes for an upcoming interest rate cut. Gold for December delivery was last traded down US$0.70 at US$3,473.60 per ounce. The US Bureau of Economic Analysis reported that the July Personal Consumption Expenditures (PCE) Index, the Federal Reserve's preferred inflation measure, rose at a 2.6% annualized pace, unchanged from June and in line with consensus expectations, according to FactSet. Core PCE,...
Gold traded around $3,410 per ounce on Friday (August 29th), nearing its highest level in more than a month and eyeing a second weekly gain. Support came from a weakening US dollar and demand for safe havens amid uncertainty over the direction of US monetary policy. Expectations for a 25-bps Fed rate cut in September strengthened after dovish signals from Governor Christopher Waller, opening the door to further cuts toward a neutral policy stance. The market awaited US personal consumption data due today, while a slightly stronger revision to second-quarter GDP growth fueled inflation...
Silver strengthened in the Asian session, supported by a weaker dollar and falling US yields as the market became more confident in the Fed's September rate cut scenario (85–87% probability).This sentiment persisted despite solid US data—Q2 GDP revised to 3.3% and jobless claims falling to 229,000—as concerns about the Fed's independence (Lisa Cook's lawsuit against Trump's impeachment attempt) increased safe-haven demand, boosting precious metals.Looking ahead, the market's primary focus is the July US core PCE release, which is expected to rise 0.3% m/m and around 2.9% y/y. A result above...
Gold prices were stable on Thursday (August 28th), as investors eyed US inflation data due to be released next Friday. The precious metal had previously received support from concerns over the independence of the Federal Reserve following President Donald Trump's move to remove Fed Chair Lisa Cook. This action sparked temporary safe-haven demand, although the US dollar recovered from earlier this week's weakness. Market sentiment also highlighted the possibility of a Fed rate cut at its September meeting, which could lower the opportunity cost of holding non-yielding gold. However, the...
Silver prices rose on Thursday (August 28th), amid growing speculation that the Federal Reserve will cut interest rates sooner than expected. Dovish statements by several Fed officials fueled expectations of monetary policy easing, increasing the appeal of precious metals as a hedge. In addition, ongoing geopolitical tensions in Eastern Europe and concerns about a global economic slowdown also supported safe-haven demand. Investors also eyed the latest US economic data, which showed signs of moderating inflation, strengthening bullish sentiment on precious metals, including gold and...
Gold fell to the $3,380 area on Thursday, retreating slightly from a two-week peak ahead of Friday's PCE release (August 29th, WIB), the Fed's inflation benchmark. Political uncertainty—including the controversy surrounding the attempted dismissal of Fed Chair Lisa Cook—kept safe-haven bids, but a rising dollar and stable real yields limited near-term upside. On the policy front, market pricing, which now places an 89% chance of a 25 bps cut in September, has softened the forward rate curve, supporting gold's hold near record levels despite increased volatility. DISCLAIMER Note: This...
Silver hovered around $38,605 during the Asian session on Thursday (August 28th), slightly correcting from the $39.00 area with limited volatility. Intraday, $38.50 serves as the closest support, while $38.90–$39.10 is the area that needs to be broken to restore upward momentum. Fundamentally, concerns over the Fed's independence maintain safe-haven demand, but a stronger USD limits gains. Expectations of a Fed rate cut remain supportive of precious metals, with the focus on Friday's US PCE data. On the industrial demand side, tariff/dealing issues and mixed Chinese data are holding back...
Gold prices corrected on Wednesday (August 27th), after rallying to a two-week high earlier, fueled by concerns about the Fed's independence. Safe-haven sentiment began to ease as the US dollar strengthened and US bond yields stabilized, although political tensions between President Donald Trump and Fed Chair Lisa Cook still loomed over the market. Source: Newsmaker.id
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....