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 prices are approaching their highest levels today ahead of the European session. Gold is trading at $2,944 per ounce, and tends to be stable. While Tim Waterer, chief market analyst at KCM Trade said, "Disappointing US macro data at the end of last week has chased the dollar, which has opened the door higher for gold,". "With trade uncertainty not likely to go away anytime soon, gold could still aim for a new record high again this week." As of this writing, gold is at $2,944Source: ads@ Newsmaker.id
Silver (XAG/USD) prices moved higher to around $32.60 during Asian trading hours on Monday (24/2). A weaker US Dollar (USD) provided some support to the USD-denominated commodity prices. Meanwhile, uncertainty and concerns over US President Donald Trump's tariff plans could increase inflows of safe-haven assets, contributing to the rise in silver prices. In addition, the market will focus on the release of the US Personal Consumption Expenditure (PCE) Price Index, the Fed's preferred measure of inflation, on Friday this week. Silver prices when this news was released were at...
Gold Holds Near Record High as Weak U.S. Data Sparks Higher Valuable Asset Buying Gold is trading slightly below last week's record high as unexpectedly weak economic data and rising inflation expectations helped boost demand for higher valuable assets. Gold is trading at $2,937 an ounce, after posting its eighth weekly gain, its longest winning streak since 2020. The rally was supported by a sharp increase in demand for bullion-backed exchange-traded funds, with holdings last week jumping the most since 2022. As of this writing, gold is at $2,937 Source: Newsmaker.id
Silver (XAG/USD) prices faced pressure during North American trading hours on Friday (21/2). The white metal fell as the US Dollar (USD) strengthened, with Federal Reserve (Fed) officials continuing to direct a tight monetary policy stance. The US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, rose near 106.75. Source: Newsmaker.id
Gold bullion fell slightly on Friday (21/2) but is still up more than 1% for the week, with trading marked by a sharp increase in holdings in bullion-backed exchange-traded funds. An eighth weekly gain would be the longest winning streak since 2020. Source: Newsmaker.id