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 prices moved in the $2632 placement area in the Asian session on Friday (12/27).This precious metal has become a safe haven asset that can find support to rise as the market anticipates signals regarding the United States (US) economy under the upcoming Trump administration and the outlook for Federal Reserve (Fed) interest rates for 2025.Until this news was released, the Gold Price was at $2,632 Source: Newsmaker.id
Silver moved above $29.50 an ounce, recovering from a three-month low of $29 hit on Dec. 19 as markets reconsidered the expected level of hawkishness from the Fed next year. Lower-than-expected core PCE prices in November eased concerns about overly tight interest rates fueled by hawkish projections from FOMC members, lowering bond yields and supporting the precious metal.As of this writing, Silver is at $29,726 Source: Newsmaker.id
Gold prices rose again, boosted by demand for safe havens amid low trading volumes after the Christmas holiday as markets await signals on the U.S. economy under the incoming Trump administration and the Federal Reserve's interest rate strategy for 2025. Part of the rise in gold prices is related to what is happening in Ukraine with Russia's attack on Ukraine's power system. President Joe Biden said Wednesday that he asked the U.S. Defense Department to resume a surge in arms shipments to Ukraine after condemning Russia's Christmas Day attacks on several Ukrainian cities and its power...
Gold prices in the short and medium term, prices may experience fluctuations and volatility because there is no overall driving force amid the holidays, analysts at Nanhua Futures wrote in a note.As of this news release, Gold prices are at $2,626 Source: Newsmaker.id
Gold rose above $2,610 an ounce on Tuesday, recovering losses from the previous session amid sluggish holiday trading. Investors continued to assess the Federal Reserve's outlook for next year, pricing in a slower pace of interest rate hikes in 2025 after the Fed signaled fewer tapers. However, this view was challenged by weaker-than-expected U.S. PCE inflation, which suggested more rate cuts are likely, benefiting non-yielding bullion. Meanwhile, the World Gold Council reported strong central bank demand, reinforcing gold's status as a safe-haven asset.Until this news was released, the Gold...