Gold weakened on Wednesday amid waning safe-haven demand and a moderate strengthening USD. The prevailing risk-on environment further drove outflows from the safe-haven precious metal.Economic concerns and speculation about a Fed rate cut may limit further USD gains and support this commodity.At the time of this analysis's release, the gold price was at $4,128. Buy if the price is in the $4,120 area. Sell if the price is in the $4,135 area. Resistance 2: $4,148. Resistance 1: $4,138. Support 1: $4,118. Support 2: $4,108. Disclaimer: This article is analytical in nature and is not a...
Gold prices (XAU/USD) rose to a weekly high early in the European session on Thursday as renewed trade concerns boosted demand for traditional safe-haven assets. Furthermore, growing acceptance that the US Federal Reserve (The Fed) will continue its interest rate cut cycle in September proved to be another factor driving capital flows toward the non-yielding yellow metal and contributing to the positive movement. Meanwhile, dovish Fed expectations pushed the US Dollar (USD) to a nearly two-week low in the last hour, providing additional support for gold prices. Source: Newsmaker.id
Silver prices rose to $38.05 on Thursday (August 7), marking a fifth consecutive day of gains. This increase was supported by a weakening US dollar and market concerns over President Trump's planned additional tariffs on China and Japan. Risk-off sentiment drove investors into safe-haven assets like silver. Expectations for a Fed interest rate cut were also a key driver. Weak US employment data strengthened the chances of policy easing, supporting precious metal prices. The market now awaits jobless claims data for short-term direction. At the time of writing, silver was up 0.68% at...
Gold strengthened on Thursday (August 7), driven by renewed safe-haven demand after US President Donald Trump imposed an additional 25% tariff on Indian imports, escalating trade tensions. Adding support to gold, the dollar index hovered near a more than one-week low after surprisingly weak US employment data last week fueled speculation of a US interest rate cut in September. A weaker dollar makes gold cheaper for holders of other currencies. Source: Newsmaker.id
Gold prices weakened slightly on Wednesday (August 6th), consolidating after four days of gains, as investors digested weak US economic data and the possibility of President Donald Trump appointing new members to the Fed board. At 08:30 GMT, spot gold fell 0.4% to $3,366.50 per ounce, while gold futures for December delivery also fell 0.4% to $3,420.72 per ounce. The precious metal had previously recorded four consecutive sessions of gains, including a 2% surge last Friday. Gold Supported by Expectations of a Fed Rate Cut Gold prices have recently been supported by expectations of an...
Silver prices stabilized on Wednesday (August 6th) as expectations of a Fed interest rate cut increased following the release of weaker-than-expected US employment data. Besides its role as a precious metal, silver also received support from the industrial sector, particularly amid a recovery in global manufacturing activity and demand from the renewable energy sector. The weakening US dollar also strengthened silver's position as an alternative hedge, while investors began returning to the precious metals market following stock market volatility and uncertainty over the direction of global...