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
Silver prices rose around $30 per ounce on Monday (6/1) as investors cautiously await key US economic data that could influence the Federal Reserve's monetary policy outlook. Among the upcoming reports, the market is mainly focused on the US monthly jobs report due on Friday, which could provide insight into whether silver will recover further. The white metal is also getting support from the positive economic outlook in China, the world's largest silver consumer. Source: Newsmaker.id
Gold (XAU/USD) prices fell again for the second day in a row after experiencing an intraday increase in the $2647-2,648 area on Monday and moved further away from the highest level in almost three weeks reached on Friday last week. Meanwhile, the Federal Reserve's (Fed) hawkish signal that they will slow the pace of interest rate cuts in 2025 continues to support the increase in US Treasury bond yields and turned out to be the main factor driving the outflow of this yellow metal. Gold prices when this news was released were at $2632/ Toz. Source: Newsmaker
Silver prices rebounded from a near four-month low, as gold prices rose as ongoing geopolitical and economic uncertainty fueled demand for the precious metal as a safe-haven asset.US President Joe Biden was reportedly briefed on contingency plans to strike Iran's nuclear facilities if Tehran makes significant progress in developing a nuclear bomb, just weeks before Donald Trump's inauguration.In addition, policy uncertainty surrounding the incoming Trump administration also drove inflows into safer assets. In China, Beijing's pledge for "more proactive" macroeconomic policies and lower...
Gold erased earlier gains, paring gains from this week as markets heeded hawkish expectations from the Fed. Fresh data from the ISM showed that manufacturing orders and production increased in December, potentially anticipating a recovery in the sector after a long period of underperformance. The survey also signaled concerns among factories about tariffs by the incoming presidential administration, adding to the risk of a pro-inflationary tone that could prevent the Fed from extending its cutting cycle.As of this writing, gold is at $2,639 Source: Newsmaker.id
Gold (XAU/USD) prices moved higher in the European session on Friday ahead of the United States (US) ISM Manufacturing Purchasing Managers' Index (PMI) data for December, due to be released at 15:00 GMT. The Manufacturing PMI was seen steady at 48.4, indicating that activity contracted at a steady pace. The precious metal has had a stellar performance in 2024, gaining over 27%, the metal's best annual return since 2010. The sustained rally was driven by strong safe-haven demand amid persistent geopolitical tensions in the Middle East and the ongoing Russia-Ukraine conflict. Until this News...