Gold prices weakened in early December, dragged down by investor caution ahead of the Federal Reserve's looming interest rate decision. Amid speculation that the Fed was ready to cut rates again this month, market participants opted to hold back, keeping gold's movements limited. Pressure from the mixed US dollar also prevented gold from posting significant gains. Despite showing some strength in the previous month, gold is now moving defensively due to ongoing global uncertainty. US economic data released in the next few days—including inflation, consumer spending, and signs of a weakening...
Gold prices recover on Wednesday after dropping to a weekly low of $2,605, bolstered by a soft US Dollar responding to the release of US economic data. This alongside falling US Treasury bond yields, spurred Gold's recovery to current prices. The XAU/USD trades at $2,636 up by 0.13%. The market mood turned slightly sour as US equity markets prepared for Thanksgiving. In the meantime, the Federal Reserve's (Fed) preferred inflation gauge, the core Personal Consumption Expenditures (PCE) Price Index, justifies the Fed's gradual approach, which is expected to lower borrowing costs at the...
Gold rose on Wednesday, rebounding from an over one-week low hit in the previous session, on a weaker dollar, but trimmed earlier gains after data showed stalled inflation progress, hinting that the U.S. Federal Reserve might be cautious on further rate cuts. Spot gold was up 0.4% at $2,641.34 per ounce. U.S. gold futures rose 0.7% to $2,640.60. U.S. consumer spending increased solidly in October, but progress lowering inflation appears to have stalled in the past months. "We think that the small correction that we just saw in the metals in reaction to data was mostly driven by personal...
Oil edged higher as signs OPEC+ will once again delay restoring output countered easing geopolitical risk in the Middle East. Brent traded above $73 a barrel, after sliding in the prior two sessions on anticipation of a truce between Israel and Hezbollah. OPEC+ talks to delay a production restart have begun ahead of a meeting this weekend, allaying concerns over a supply glut. Israel started a cease-fire with the Iran-backed militant group after weeks of talks mediated by the US. Oil options markets have begun pricing a lower risk of escalation and hundreds of...
Silver prices (XAG/USD) broadly unchanged on Wednesday, according to FXStreet data. Silver trades at $30.54 per troy ounce, broadly unchanged 0.12% from the $30.50 it cost on Tuesday. Silver prices have increased by 28.33% since the beginning of the year. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 86.79 on Wednesday, up from 86.30 on Tuesday. Source : FXStreet
Gold price (XAU/USD) sticks to modest intraday gains near a two-day high, above the $2,650 level, through the first half of the European session as geopolitical risks and US President-elect Donald Trump's tariff plans drive haven flows for the second straight day. Furthermore, sliding US Treasury bond yields keep the US Dollar (USD) depressed near the weekly trough and assist the commodity in building on the overnight bounce from the $2,600 neighborhood, or a one-week low. Apart from this, a weaker tone around the European equity markets turns out to be another factor that benefits the...
Gold (XAU/USD) prices attracted some follow-through buying during the Asian session on Wednesday and seemed to firm on the overnight uptick from the $2,600 range, or a one-week low. Ongoing geopolitical risks stemming from the prolonged Russia-Ukraine war, along with concerns over US President-elect Donald Trump's tariff plans, drove some haven flows towards the precious metal for the second straight day. Meanwhile, the US Dollar (USD) consolidated near the lower end of its weekly range despite upbeat US macro data on Tuesday which turned out to be another factor supporting Gold prices....
The Japanese yen strengthened past 152.5 per dollar on Wednesday, reaching its highest level in over two weeks, fueled by speculation that the Bank of Japan may raise interest rates in December. BOJ Governor Kazuo Ueda recently hinted at the possibility of a rate hike next month, citing concerns over the yen's weakness. Investors are now awaiting Tokyo's inflation data later this week, which could offer further clues on the outlook for monetary policy. The yen also received support from increased safe-haven demand following US President-elect Donald Trump's threat of tariffs on China,...
Silver (XAG/USD) price remains stable near $30.50 per troy ounce during the Asian trading hours on Wednesday (11/27). The daily chart analysis suggests a possible shift in momentum from bearish to bullish as the currency pair has been moving down along the upper boundary of the descending channel pattern. However, the 14-day Relative Strength Index (RSI) is currently below the 50 level, indicating the prevailing bearish sentiment. Moreover, the XAG/USD currency pair remains below the 14- and nine-day Exponential Moving Averages (EMA), which signal a bearish outlook and indicate weakening...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
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....