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 was steady at $3,325 in Europe on Friday (9/5). On the other hand, progress in global trade negotiations after the US announced a deal with the UK and ahead of a meeting that thaws the atmosphere with China has eased demand for safe-haven assets in recent days. However, market observers said investors were wary of the limited scope of the UK agreement and were looking at the upcoming meeting between Washington and Beijing with cautious optimism, as negotiations could be long and drawn out. Source: Newsmaker.id
Gold fell on Friday (5/9), as optimism over US-China trade talks reduced the appeal of safe-haven assets. Officials from both countries are scheduled to meet later this week, raising hopes of progress in resolving trade disputes. The announcement of a US-UK trade agreement further eased concerns over global trade tensions. Source: Newsmaker.id
Silver prices rallied again, recovering losses from the previous session as investors sought refuge in safe haven assets amid persistent economic and trade uncertainty. The recovery followed the Federal Reserve's decision on Wednesday to keep interest rates steady, as expected.As of this writing, Silver is at $32,452 Source: Newsmaker.id
Gold fell as the dollar extended gains after President Donald Trump announced a trade framework with the UK, sapping demand for safe-haven assets stemming from concerns about a global trade war.Trump said the full details of the pact would be negotiated over the coming weeks. But under the agreement, Britain will speed up the process of levying tariffs on American goods and reduce barriers to agricultural, chemical, energy and industrial exports.Among other factors, the Federal Reserve kept interest rates unchanged, and Chairman Jerome Powell said the central bank was in no rush to cut rates...
Silver prices rose more than 1% to near $33 an ounce on Thursday (08/05), recovering losses from the previous session as investors sought refuge in safe-haven assets amid ongoing economic and trade uncertainty. The recovery follows the Federal Reserve's decision on Wednesday to keep interest rates steady, as expected. Source: Newsmaker.id