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
Gold prices held steady at around $3,298 per ounce in trading, after strengthening slightly driven by the weakening US dollar. Market players are currently cautiously awaiting the release of US employment data, including the ADP and Nonfarm Payrolls reports, which are scheduled to be released in the middle of this week. Source: Newsmaker.id
Silver is currently at $36,075, slightly weakening after selling pressure from the broader precious metals market. Fundamentally, this decline was influenced by the easing of global geopolitical tensions, especially after the ceasefire between Iran and Israel, which reduced demand for safe haven assets such as gold and silver. In addition, economic data from China as the largest consumer of industrial metals still shows weakness, especially from the manufacturing sector, which adds to concerns about short-term demand. From the US side, expectations of an interest rate cut by the Fed in...
Silver price slides over 2% to near $35.85 during European trading hours on Friday. The white metal faces a sharp selling pressure due to improvement in trade relations between the United States (US) and China and no signs of Israel-Iran truce violation. During the European trading session, a spokesperson from the Chinese Ministry of Commerce confirmed that Beijing has agreed to expedite exports to rare earths to the US, while Washington will revoke non-tariff barriers. Meanwhile, an increase in Federal Reserve (Fed) dovish bets due to tensions between Donald Trump and Chair Jerome Powell...
Gold fell to $3,280 an ounce on Friday, hitting a four-week low, as fading geopolitical risks and easing concerns about a prolonged trade conflict dampened demand for the safe-haven asset. The U.S. and China are finalizing details of their London trade deal, which will implement the Geneva consensus. Meanwhile, investors continue to assess the prospects for a Fed rate cut, with reports suggesting President Trump may announce his Fed chair nominee as early as September or October, likely favoring a candidate who supports looser monetary conditions. Source: Newsmaker.id
Gold prices were trading around $3,320 per ounce on Friday afternoon, pressured by stronger-than-expected US economic data. A decline in jobless claims and a surge in durable goods orders fueled concerns that the Federal Reserve might delay interest rate cuts. This reduced the appeal of gold, which tends to strengthen when interest rate prospects fall. Despite increasing fundamental pressures, geopolitical and political uncertainty in the US still supports demand for gold as a hedge. The market focus is now on the PCE inflation data to be released tonight. Technically, gold is still holding...