Gold climbed to $4,140–$4,150 as the market grew more confident that the Fed would cut interest rates this year. ADP data showed that US companies lost an average of >11,250 jobs per week, raising the probability of a 25 bps rate cut to 68% (Dec) and 80% (Jan). The impact: Yields and the USD tended to weaken, so the opportunity cost of holding gold decreased. Holding the rally: If today's Fedspeak (Williams, Waller, et al.) is hawkish, gold could hold; if dovish, the rally could continue. Additionally, the final progress of the US shutdown could reduce safe-haven demand when official...
Gold moved steadily in the $2620s area amid small trading volumes due to the holidays that have begun in several world markets. Gold itself opened with slight gains after previously closing with a decline. Gold is heading for one of its biggest annual gains this century, with a 27% increase driven by US monetary easing, ongoing geopolitical risks, and a wave of central bank purchases.
Gold prices started the Asian session with a slight increase after previously closing lower on Friday. The increase occurred as the market anticipated signals from the US economy and the Fed's interest rate outlook for 2025 after the PCE data came in below expectations. Israel's attack on Yemen is also one of the factors driving gold at this time. Gold, a non-yielding asset, gained traction as the below-forecast US PCE inflation data raised expectations for a limited Fed interest rate cut next year, hinting at the possibility of more cuts.
Silver prices fell around $29.40 in thin US midday trading after the Christmas holiday on Friday (12/27). The white metal came under pressure even as tensions in the Middle East between Israel and Iran have escalated. On Thursday, Israel launched missiles at the Iranian-backed Houthi military and bombed Yemini airport. Following the airstrike, Israeli Prime Minister Benjamin Netanyahu said in an interview with Israeli Houthi TV, "We are just getting started with them." Israel retaliated against last week's airstrike by Iran. Historically, rising geopolitical tensions increase demand for...
Gold prices plunged and are on track for a weekly decline amid light holiday trading. Gold was trading at $2,615 an ounce in the US Central session, and is set to end the week lower. The precious metal has been declining against stronger US Treasury yields, with the market looking to 2025 for fresh catalysts. Market pessimism around the prospect of a significant US interest rate cut in the new year has continued to weigh on gold prices in late December, reflecting hawkish Federal Reserve comments and the inflationary nature of many of President-elect Donald Trump's proposed policies....
Gold (XAG/USD) prices moved lower amid a quiet post-Christmas holiday trade, trading near $29 during the Asian session on Friday(12/27).Non-yielding silver gained traction as modest US PCE inflation data challenged expectations of limited Fed rate cuts next year, hinting.The safe-haven appeal was supported by rising geopolitical risks stemming from the prolonged Russia-Ukraine conflict and ongoing tensions in the Middle East. Source: Newsmaker.id