Gold prices extended gains after U.S. inflation data came in slightly weaker than expected, giving investors a faint hope that the Federal Reserve will continue its path of easing interest rates this year, which weakened the dollar.
Spot gold rose 0.3% to $2,671.27 per ounce. U.S. gold futures settled 0.1% higher at $2,682.30.
The data showed the Producer Price Index (PPI) rose 3.3% on an annualized basis in December, compared with a 3.4% increase expected by economists polled by Reuters.
The cooler PPI data sent the U.S. dollar index lower and that helped the bullion market, as lower inflation means the Fed may be able to cut rates sooner," said Jim Wyckoff, senior market analyst at Kitco Metals. The dollar index, down 0.6%, made gold cheaper for overseas buyers.
As of this writing, gold is at $2,673
Source: Newsmaker.id
Gold prices held steady at $3,294 per ounce, despite a 1.4% weekly decline. Uncertainty over new US tariffs boosted safe-haven demand, but a strengthening dollar limited gains. The market now awaits ...
Gold prices weakened to around $3,290 per ounce on Friday (August 1) and were on track for their worst weekly performance since late June, pressured by a stronger US dollar following President Trump's...
Gold futures traded flat at around $3,308 per troy ounce, after previously weakening following the Federal Reserve's decision to hold interest rates. The Fed cited the risk of inflation due to tariffs...
hours on Thursday, bolstered by a weaker US Dollar (USD). Investors brace for further development surrounding US President Donald Trump's tariff policy on major trade partners. Trump late Wednesday a...
Gold prices rebounded on Thursday (July 31) from a one-month low reached in the previous session, as trade uncertainty sparked by the announcement of new US tariffs increased bullion's appeal, even as...
The Australian Dollar (AUD) remains under pressure against the US Dollar (USD) on Friday, giving back most of its earlier gains despite broad weakness in the Greenback following a disappointing Nonfarm Payrolls (NFP) data. The AUD/USD initially...
Oil prices $2 a barrel on Friday because of jitters about a possible increase in production by OPEC and its allies, while a weaker-than-expected U.S. jobs report fed worries about demand. Brent crude futures settled at $69.67 a barrel, down $2.03,...
The yen has suffered a difficult month, but BCA Research thinks the Japanese currency is primed for a multi-year rally. At 08:30 ET (12:30 GMT), USD/JPY traded 0.2% lower at Y150.49, having earlier in the session climbed as high as Y150.91, the...
Annual inflation in the United States (US), as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, rose to 2.6% in...
The STOXX 50 dropped 1.1% and the STOXX 600 declined 0.8% on the first trading day of August, which coincided with the deadline for countries to...
US non-farm payrolls rose by 73,000 in July 2025, after being revised down by 14,000 in June and well below the 110,000 estimate. The upward trend...
According to a report from the US Department of Labor (DOL) released on Thursday, the number of Americans filing new applications for unemployment...