Gold prices held steady on Friday (August 15th), continuing the previous session's decline and on track for their worst week since late June. Sentiment was weighed down after a series of stronger-than-expected US data eroded hopes of a significant Fed interest rate cut, causing the dollar and US bond yields to strengthen and dampen interest in non-yielding assets like gold. Pressure intensified after the US PPI rose at its fastest pace in three years in July, well above consensus, indicating that companies were beginning to pass on tariff-induced import cost increases to final...
Gold was steady in early Asia, supported by lingering concerns about the U.S. fiscal deficit. Investors are reassessing the longer-term outlook for U.S. sovereign risk after Moody's Ratings downgraded the U.S. credit rating last week, Pepperstone's Quasar Elizundia said in an email. Safe-haven assets such as gold could see increased demand, the research strategist said. However, near-term upside for gold prices may be limited if ETF outflows continue, Elizundia said, noting that gold ETFs saw strong outflows of 30 tonnes last week. Spot gold was little changed at $3,298/oz. Source:...
Silver prices rose on Tuesday (5/20), as the metal regained traction after two consecutive days of losses. While seemingly range-bound, the rebound was supported by a weaker US Dollar (USD) and steady investor demand for the industrial metal, even as easing geopolitical tensions boosted broader investor confidence. Source: Newsmaker.id
Gold prices rose more than 1% on Tuesday (5/20) as the U.S. dollar weakened further, while the air continued over U.S. tariffs and the Russia-Ukraine ceasefire. Source: Newsmaker.id
Gold prices found some support above the $3,200 level and pared some of its modest intraday losses, although its upside potential appears limited. The US dollar (USD) fell to a near two-week low amid speculation that the Federal Reserve (Fed) will cut interest rates further in 2025, which turned out to be a key factor offering some support to the non-yielding yellow metal. Source: Newsmaker.id
Silver (XAG/USD) is trading lower after Moody's or Financial Survey Institution downgraded the US credit rating one notch from Aaa to Aa1 citing soaring debt levels and rising interest payments. This follows similar downgrades by Fitch Ratings in 2023 and Standard & Poor's in 2011.As of this writing, Silver is trading at $32,181 Source: Newsmaker.id