Gold prices edged higher on Wednesday, holding above the critical $3,600-per-ounce level, buoyed by expectations of a U.S. interest rate cut this month, while key inflation reports due this week were also on investors' radar. Spot gold was up 0.3% at $3,635.329 per ounce, as of 0101 GMT, after hitting a record high of $3,673.95 on Tuesday. U.S. gold futures for December delivery eased 0.2% to $3,673.70. "Sentiment is really bullish. There are several major factors driving gold prices right now. The primary is U.S. rate cut expectations," Capital.com financial market analyst Kyle Rodda...
Spot gold prices rose more than 1%, surpassing $3,340 an ounce on Friday (August 1), as the latest U.S. jobs report reinforced evidence of a cooling labor market and strengthened expectations of a Fed rate cut in September. The U.S. economy added only 73,000 jobs in July, short of the 100,000 projected by analysts, while the unemployment rate edged up to 4.2%, up from 4.1% in June. In response, the market now rates a 75% probability of a September rate cut, up sharply from 45% before the report. The data follows higher-than-expected PCE inflation figures released on Thursday, which...
Oil prices were little changed on Friday (August 1st) and headed for weekly gains as investors weighed the impact of further import tariffs imposed by US President Donald Trump and the threat of sanctions. Brent crude futures fell 26 cents, or 0.36%, to $71.44 a barrel at 12:12 GMT. US West Texas Intermediate crude fell 18 cents, or 0.26%, to $69.08. Crude oil prices stabilized on Friday after falling more than 1% in the previous session, although Brent and WTI remained on track for weekly gains of 4.4% and 6%, respectively. Investors have been focused on the potential impact of US...
Gold prices held steady on Friday (August 1st), but were set for a third consecutive weekly loss due to pressure from a stronger dollar and diminishing expectations for a US interest rate cut, while uncertainty surrounding US tariffs on trading partners provided support. Spot gold was steady at $3,293.56 per ounce as of 09:34 GMT. Bullion was down 1.4% for the week. US gold futures edged down 0.1% to $3,344.60. The dollar index hit its highest level since May 29, making gold more expensive for holders of other currencies. "Gold remains weighed down by diminishing speculation of a Fed rate...
The dollar headed for its strongest weekly performance in nearly three years against major currencies, maintaining momentum on Friday (August 1st) after US President Donald Trump imposed new tariffs on dozens of trading partners. Some currencies of the hardest-hit countries, such as Switzerland, which now faces 39% tariffs, fell sharply. The Swiss franc hit its weakest level in six weeks, while the Canadian dollar headed for its seventh straight weekly decline. The dollar also strengthened against other currencies due to factors other than tariffs. The yen headed for its biggest weekly...
Oil prices were little changed on Friday (August 1st) and headed for weekly gains, as investors weighed the impact of further tariffs and sanctions from US President Donald Trump. Brent crude futures rose 19 cents, or 0.26%, to $71.89 per barrel at 08:23 GMT. US West Texas Intermediate crude futures rose 20 cents, or 0.29%, to $69.46 per barrel. Oil prices stabilized on Friday after falling more than 1% in the previous session. However, for the week, Brent is expected to rise 5%, and WTI around 6.6%. Investors have been focused on the potential impact of US tariffs on oil prices this week,...
Silver prices fell 0.5% to near $36.50 during the European trading session on Friday (August 1). The precious metal faced selling pressure as the confirmation of tariff agreements by the United States (US) with several of its major trading partners, such as Japan, the European Union (EU), South Korea, and others, as well as growing investor confidence that Washington will reach a deal with China, has reduced demand for safe-haven assets, such as silver. Safe-haven assets have performed strongly since US President Donald Trump's announcement of tariff policies, which aim to reduce the...
Silver prices hovered around $36.60 per ounce on Friday and were on track for a weekly loss of about 4%, pressured by a stronger US dollar. The dollar's strength was underpinned by renewed trade tensions after President Donald Trump reaffirmed a 10% global tariff and imposed reciprocal levies of up to 41% on countries without finalized trade deals. Investors also remained cautious ahead of the July US jobs report, which is expected to guide the Federal Reserve's next policy move. On Thursday, core PCE prices, the Fed's preferred inflation gauge, rose 0.3% in June and 2.8% year-on-year,...
Gold prices ticked higher on Friday, supported by uncertainty stemming from a slew of U.S. tariffs slapped on trading partners, although a stronger dollar kept bullion on track for a weekly loss. Spot gold was up 0.2% at $3,299.08 per ounce, as of 0553 GMT. Bullion is down 1.2% so far this week. U.S. gold futures edged up 0.1% to $3,351.60. "Gold has been in a $3,250 to $3,450 range for about two months now, and we see it heading towards the bottom end of the range and perhaps breaking it," said Marex analyst Edward Meir, adding that the dollar's strength was driven by the Federal...
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....