Gold (XAU/USD) prices pared some of their intraday losses, although they remained pressured below the $3,400 level and above the two-week high reached last Friday. Amid optimistic market sentiment, the moderate strengthening of the US dollar (USD) prompted profit-taking around the commodity after its recent gains over the past week or so. However, a combination of factors helped limit the decline in the precious metal. Source: Newsmaker.id
Gold prices maintained their positive bias above the $3,300 mark, rising nearly 1% on Wednesday (5/21), hitting their highest level in more than a week, as a weaker dollar and US fiscal uncertainty amid Congressional debate on a broad tax bill boosted demand for safe-haven assets. Source: Newsmaker.id
Silver prices continue their uptrend, as the weakening US Dollar (USD) led to a downgrade of the US government's credit rating last Friday.As of this writing, Silver prices are at $33,151 Source: Newsmaker.id
Gold was steady in early Asia, supported by lingering concerns about the U.S. fiscal deficit. Investors are reassessing the longer-term outlook for U.S. sovereign risk after Moody's Ratings downgraded the U.S. credit rating last week, Pepperstone's Quasar Elizundia said in an email. Safe-haven assets such as gold could see increased demand, the research strategist said. However, near-term upside for gold prices may be limited if ETF outflows continue, Elizundia said, noting that gold ETFs saw strong outflows of 30 tonnes last week. Spot gold was little changed at $3,298/oz. Source:...
Silver prices rose on Tuesday (5/20), as the metal regained traction after two consecutive days of losses. While seemingly range-bound, the rebound was supported by a weaker US Dollar (USD) and steady investor demand for the industrial metal, even as easing geopolitical tensions boosted broader investor confidence. Source: Newsmaker.id
Gold prices rose more than 1% on Tuesday (5/20) as the U.S. dollar weakened further, while the air continued over U.S. tariffs and the Russia-Ukraine ceasefire. Source: Newsmaker.id