Gold prices weakened to around $4,010 an ounce on Friday, poised for a second weekly decline. Pressure stemmed from fading hopes for a Fed rate cut after Jerome Powell asserted that a December rate cut was "not guaranteed," keeping the dollar at a high level and dampening gold buying appetite. Safe-haven sentiment also eased after the US and China reached a one-year trade truce on rare earths, easing supply concerns for the high-tech industry.
However, gold remains on track for monthly gains thanks to support from central bank purchases. A World Gold Council report showed central banks purchased 220 tonnes of gold in Q3, up 28% from the previous quarter, with Kazakhstan being the largest buyer and Brazil adding gold for the first time since 2021. These factors helped cushion pressure from a strong dollar and expectations of higher US interest rates for longer.
At the time of this analysis, gold prices were at $4,008.
Disclaimer:
This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
Silver prices moved sideways during the European session on Friday (October 31st), holding in the high range of around $49 per ounce. The market remained cautious as the dollar remained strong and gol...
Silver prices are trading in the $46-$48/oz range with high volatility. The two driving forces remain the same: safe-haven sentiment (global uncertainty + Fed rate cut expectations) and industrial dem...
Gold prices moved cautiously at the start of the Asian session; spot gold was around $3,944,000/oz at the time of writing. Pressure stemmed from comments by Jerome Powell, who emphasized that a Decemb...
Brent oil fell again on Wednesday (October 29th) as the market monitored that supply was still too much for demand. Investors began to doubt that new US and European sanctions on major Russian oil com...
Silver prices are still struggling to rise steadily due to the current risk-on global market sentiment. Hopes for a US-China trade deal have made investors more willing to invest in stocks and riskier...
European stocks edged lower on Friday (October 31st), with the STOXX 50 and STOXX 600 down 0.1%, as corporate earnings remained in focus and investors continued to assess the impact of the recent US-China trade truce. Among the stocks moving,...
The Nikkei 225 index closed higher on Thursday (October 31, 2025), driven by strong gains in technology and electronics stocks. Positive sentiment emerged after the Bank of Japan maintained its policy interest rate, while a weaker yen boosted the...
Silver prices moved sideways during the European session on Friday (October 31st), holding in the high range of around $49 per ounce. The market remained cautious as the dollar remained strong and gold corrected, while Jerome Powell's statement...
Asian stock markets opened higher on Wednesday (October 29th), buoyed by positive sentiment from Wall Street. Investors are confident that the...
The United States (US) Federal Reserve (Fed) will announce its interest rate decision and publish the Monetary Policy Statement following the...
European stocks weakened slightly on Wednesday (October 29, 2025), after several consecutive days of record highs. The STOXX 600 index fell by...
Japan and the United States have agreed to cooperate on next-generation nuclear power reactors and rare earths, as Tokyo seeks to re-enter the...