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 surged to $35.60 an ounce on Thursday (6/5), hitting their highest level since February 2012, as weak U.S. economic data and a dovish Federal Reserve outlook fueled safe-haven demand ahead of Friday's nonfarm payrolls report. Beyond economic fundamentals, geopolitical and trade tensions are adding to market jitters. The U.S. has doubled tariffs on steel and aluminum imports to 50%, stoking fears of renewed trade tensions with major partners. Source: Newsmaker.id
Gold rose on Thursday (06/05) in European trading, Gold continued its rise, The decline in hiring and contraction in US service activity have raised expectations of monetary policy easing to avoid a recession. Lower interest rates usually benefit non-interest bearing bullion. At the same time, demand for gold as a safe haven asset is also prominent, ANZ said. US relations with China and the European Union continue to deteriorate as President Trump doubles steel and aluminum tariffs to 50%, ANZ said. Source: Newsmaker.id
Gold rose on Thursday (06/05) in Asian trading, holding gains, after weaker-than-expected US data reinforced expectations that the Federal Reserve will cut interest rates at least twice this year to stave off a recession. Meanwhile, concerns about worsening tensions between the US and some of its major trading partners resurfaced after President Donald Trump doubled tariffs on steel and aluminum to 50%. Separately, he called his Chinese counterpart Xi Jinping "very difficult to make a deal with". Source: Newsmaker.id
Gold rose on Wednesday, supported by a weaker dollar and weak US data, as investors grappled with rising economic and political uncertainty. US President Donald Trump said his Chinese counterpart Xi Jinping was tough and "very difficult to deal with", just days after accusing Beijing of breaking a deal to lift tariffs. Source: Newsmaker.id
Gold prices edged up on Wednesday as a weaker dollar and escalating trade tensions between the United States and China boosted demand for the safe-haven metal. Spot gold was up 0.1% at $3,355.46 an ounce, as of 0836 GMT. U.S. gold futures edged up 0.1% to $3,379.80. The dollar index, which measures the greenback against a basket of six major currencies, fell 0.1%, making gold more attractive to holders of other currencies. Source: Newsmaker.id