Gold Edges Lower After Nine-Day Rally Ahead of US Inflation Data

Gold edged lower, after a nine-day surge, ahead of US inflation data that may provide more certainty on the timing of the Federal Reserve’s pivot to cutting interest rates. The precious metal traded near $2,180 an ounce after a rally that’s seen it rise more than 7% and set record highs on...

Gold Retreats from Near Record-High Levels Ahead of US Inflation Data

Gold prices slipped from near record-high levels on Tuesday, as traders braced for key U.S. inflation report that could give more clarity on when the Federal Reserve might start cutting its interest rates. Spot gold fell 0.2% to $2,178.53 per ounce, as of 0424 GMT, after rising for nine...

Gold Steadies After Nine-Day Rally Ahead of US Inflation Data

Gold steadied after a nine-day surge ahead of US inflation data that may provide more certainty on the timing of the Federal Reserve’s pivot to cutting interest rates. The precious metal traded near $2,180 an ounce in Asia after a rally that’s seen it rise more than 7% and set record highs...

Market Review Monday, March 11, 2024

Nikkei Japanese equities slid the most since Oct. 4, with both benchmarks declining more than 2% as growing speculation the Bank of Japan will raise interest rates lifted the yen and hurt exporters. The Topix closed 2.2% lower at 2,666.83 in Tokyo, with 31 of 33 sub-sectors dropping. The...

Gold Closes at a Record High for the Seventh-Straight Day Ahead of February Inflation Data

Gold closes at the seventh-straight record high on Monday even as the dollar and treasury yields rose ahead of US inflation data coming on Tuesday. Gold for April delivery closed up US$3.10 to settle at US$2,188.60 per ounce. The price of the precious metal has been steadily rising on...

Gold Edges Down as the Dollar and Yields Rise Ahead of February Inflation Data

Gold edged lower early on Monday following six days of record prices as the dollar and treasury yields rose ahead of US inflation data coming on Tuesday. Gold for April delivery was last seen down US$0.50 to US$2,185.00 per ounce. The price of the precious metal has been steadily rising on...

Gold steady after record run as US inflation data looms

Gold's record rally hits pause ahead of US inflation data

Gold prices took a breather from a record-breaking rally on Monday, which was fuelled by a cooling U.S. labour market and remarks from the Federal Reserve, with traders awaiting a key inflation report for fresh clues on the timing of rate cuts. Spot gold was steady at $2,179.97 per ounce, as of...

Gold Rally Hits Pause Ahead of US Inflation Data

Gold prices took a breather from a record-breaking rally on Monday, which was fuelled by a cooling U.S. labor market and remarks from the Federal Reserve, as traders awaited an inflation report for fresh clues on the timing of rate cuts. Spot gold was steady at $2,178.44 per ounce, as of 0339...

Gold Pushes Toward Record as Test of $2,200 Looms on Fed Outlook

Gold rose toward a record on expectations the US Federal Reserve will move to cut interest rates this year as inflation cools. Bullion for immediate delivery edged higher on Monday after rallying almost 5% last week, setting a nominal high on four successive days. Gains on Friday were...

Market Review Friday, March 8, 2024

Nikkei Tokyo stocks ended higher on Friday after rallies on Wall Street led by tech stocks. The benchmark Nikkei 225 index was up 0.23 percent, or 90.23 points, to end at 39,688.94, while the broader Topix added 0.30 percent, or 8.26 points, to 2,726.80. Hang Seng Hong Kong shares rallied...

Gold Rises to Another Record as the Dollar Drops Following a Bigger than Expected Rise in US Employment

Gold closed at another record high on Friday, climbing again following five days of gains after an unexpectedly robust US jobs report looks to delay a cut to interest rates, pushing the dollar lower. Gold for April delivery closed up US$20.30 to US$2,185.50 per ounce. The price of the metal is...

Gold Extends Record Run With Sights on $2,200 After US Jobs Data

Gold extended its rally to a fresh record after a key US jobs report bolstered expectations that the Federal Reserve may cut interest rates later this year. The precious metal rose as much as 1.1% to $2,183.79 an ounce, a fresh all-time high, in its eighth straight day of gains. US employment...

Gold Rises to Record Ahead of U.S. Jobs Data

Gold prices were poised for a strong weekly gain Friday as Federal Reserve Chair Jerome Powell’s remarks cemented mid-year rate cut bets, ahead of a key jobs report later in the day. Spot gold was 0.4% higher at $2,167.69 per ounce, breaking above a record peak of $2,164.09 hit in the previous...

Gold Breaks Record for Fourth Day as Rally Maintains Momentum

Gold notched a new all-time high for a fourth consecutive day, in a rally fueled by growing hopes for interest-rate cuts, central bank buying and renewed investor interest. Spot bullion rose as much as 0.4% to record $2,168.75 an ounce, extending a 6% surge that started a week ago. The scale and...

Gold eyes best week in five months ahead of US jobs data

Gold prices were poised for their biggest weekly jump in five months on Friday, hovering near a historic high, as Federal Reserve Chair Jerome Powell's remarks cemented mid-year rate cut bets, ahead of a key jobs report later in the day. Spot gold was little changed at $2,157.16 per ounce, as of...

Gold Edges Higher, Supported by Fed Rate-Cut Bets

Gold edges higher in the early Asian session, supported by bets for Fed rate cuts, which would increase the allure of the non-interest-bearing precious metal. Fed Chair Powell ended his two-day congressional testimony by saying that, if the U.S. economy does as expected, the Fed will consider...

Market Review Thursday, March 7, 2024

Nikkei Tokyo shares trimmed early gains to end lower Thursday, as chip-linked shares lost momentum and investors were spooked by the yen's shift towards appreciation. The benchmark Nikkei 225 index dropped 1.23 percent, or 492.07 points, to 39,598.71, while the broader Topix index slid 0.44...

Gold Closes at a Record for Fifth-Straight Day as the Dollar Drops After Powell Testimony

Gold closed higher on Thursday, pushing up to a fresh record for a fifth-straight session as the dollar slipped after Federal Reserve chair Jerome Powell said in testimony to Congress he expects interest-rate cuts should begin this year, though his outlook remains cautious. Gold for April...

Gold Extends Record-Breaking Run as Powerful Mix Builds Momentum

Gold extended its record-breaking rally to a fresh all-time high, as speculation over the Federal Reserve’s pivot, geopolitical risks and buying by macro funds helped spur momentum. Bullion rose to a peak of $2,161.48 an ounce, after adding nearly 6% in the past five sessions. A gain on...