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
Demand for silver continues to rise sharply, driven primarily by the technology, electric vehicle, and solar power sectors—where silver is highly sought after due to its superior electrical conductivi...
Gold prices held above $4,100/oz on Tuesday (November 11) during the Asian session. This was supported by increasing expectations of a Fed interest rate cut following a series of weak US economic data...
Silver prices rose as risk sentiment improved in the market after signs emerged that the US government shutdown was nearing an end. These hopes pushed the US dollar slightly lower and increased intere...
Gold prices rose to $4,050 per ounce on Monday (November 10), driven by increased demand for safe-haven assets amid political uncertainty in the US. Investors are still awaiting a final agreement to e...
Silver prices rose on Friday (November 7th) due to a combination of two main factors: strong industrial demand, particularly from the technology and renewable energy sectors, and a worsening supply de...
The Nikkei 225 index fell 0.14% to close at 50,843 on Tuesday (November 11), losing gains from earlier in the session as investors took profits from rising tech stocks amid ongoing concerns over high AI valuations. Significant losses were seen in...
Silver prices (XAG/USD) have risen for three consecutive sessions and are hovering around $50.90/oz in Asia this morning. This "non-interest-bearing" metal is gaining traction as US economic uncertainty heightens expectations of a Fed interest rate...
Demand for silver continues to rise sharply, driven primarily by the technology, electric vehicle, and solar power sectors—where silver is highly sought after due to its superior electrical conductivity. Meanwhile, silver supply remains limited...
The longest government shutdown in U.S. history could end this week after a compromise that would restore federal funding cleared an initial Senate...
Global stock markets rallied at the start of the week amid growing optimism that the US government shutdown will soon end. S&P 500 futures rose...
Asian stocks advanced for a second consecutive day as progress toward ending the record-long US government shutdown lifted sentiment,...
China has begun designing a new rare earth licensing regime that could speed up shipments, but it is unlikely to amount to a complete rollback of...