Gold prices held steady on Tuesday (August 5th), holding near the two-week high reached in the previous session, as weaker-than-expected US employment data raised expectations for a September interest rate cut and pressured the US dollar and government bond yields. Spot gold was trading at $3,369.25 per ounce as of 06:29 GMT. Bullion hit its highest level since July 24th on Monday. US gold futures were unchanged at $3,423.20. Source: Newsmaker.id
Silver prices have again reached their highest levels, the white metal is trading strongly ahead of the United States (US) Nonfarm Payrolls (NFP) data for June.Until this News was released, the price of silver was at the level of $ 36,884 Source: Newsmaker.id
Gold prices fell slightly this morning (-0.2%) to around $3,349, as market players await the release of US Employment Data (Non-Farm Payrolls + ISM PMI) which will be the next major catalyst Global geopolitics are still heating up, major central banks such as the PBoC continue to add gold reserves, and the US fiscal deficit has increased significantly, all supporting demand for gold as a safe-haven asset Barron's said many analysts are targeting $4,000 per troy ounce thanks to a combination of global uncertainty and a falling dollar. Meanwhile, HSBC raised its average target for 2025–2026...
After a sharp rally to a 13-year high in early June, silver has undergone a healthy correction: down from around USD36–36.4/oz to the USD35.8–36.2/oz area today. Such a move is common after a major rally, when market players take profits. Market players adopted a wait-and-see position before the release of the US Non-Farm Payroll (NFP) data. The focus shifted to gold as a safe-haven, so that silver experienced a stagnant correction. In the short term, silver prices are still supported by a supply deficit, strong industrial demand, and safe-haven flows.
Global gold prices are holding steady in the positive area at around $3,343 per ounce after rallying 2% in the previous two sessions. Currently, the market is taking a wait-and-see attitude ahead of two major agendas from the US: the House vote on Trump's tax bill and the release of June employment data. Although the US dollar strengthened slightly, positive sentiment towards gold remained intact as fiscal concerns, geopolitical tensions, and the direction of trade policy are still the main concerns of investors. Additional support came from central bank purchases and fund flows into...
Silver's move now focuses on upcoming labor market data, including the ADP private payrolls report due on Wednesday and the key June jobs report on Thursday, for further signals on the economic outlook and potential Fed policy moves.At the time of writing, silver was trading at $36,025/Toz. Source: Newsmaker.id