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 remain in a downtrend after a fragile ceasefire between Iran and Israel eased geopolitical tensions in the Middle East, reducing demand for safe haven assets. Gold was trading almost unchanged at around $3,325 per ounce in early Asia, after closing down 1.3% the previous day. Although the conflict has eased, global uncertainty, trade tensions, and expectations of interest rate cuts remain supporting factors for gold prices which have risen 27% so far this year. On the other hand, weakening US consumer confidence in June added to market concerns about the economic impact of...
Gold fell as haven demand ebbed after US President Donald Trump announced that Israel and Iran had agreed to a ceasefire. Bullion fell as much as 1.6% to below $3,320 an ounce on Tuesday. Trump, who made the surprise announcement on his Truth Social platform days after ordering airstrikes on Iran's nuclear facilities, said the accord is aimed at a lasting end to the fighting and warned against violations. Israeli Prime Minister Benjamin Netanyahu confirmed later that his country has agreed to a truce after achieving its war goals in Iran. Rising haven demand because of...
Silver is currently showing an attractive performance in the global market, supported by a combination of macroeconomic factors, geopolitics, and solid industrial demand. The price of silver, which had previously weakened in the Asian session, has strengthened again and returned to the $36 area. President Trump said on Monday that a "complete and total" ceasefire between Israel and Iran would come into effect to end the conflict between the two countries. He also added that Iran would immediately begin a ceasefire, followed by Israel after 12 hours. Trump's comments came shortly after Iran...
Silver prices rose during Asian hours on Tuesday (6/24). Silver depreciated as a ceasefire agreement between Israel and Iran reduced demand for safe havens. On Monday, Federal Reserve (Fed) Vice Chair for Supervision Michelle Bowman could support a July interest rate cut as risks to the job market may increase. Bowman also highlighted that inflation appears to be on a sustainable path back to 2%, and she is less concerned that tariffs will cause inflation problems. Source: Newsmaker.id
Gold prices weakened amid easing geopolitical tensions after President Donald Trump announced a total ceasefire between Israel and Iran. Spot gold fell around 0.6% to $3,351.79 per ounce, as the market began to release safe haven assets and return to hunting for risky instruments. The tensions that previously drove the surge in precious metal prices are now considered to have decreased significantly, reducing demand for gold. From a technical perspective, gold prices are showing short-term correction signals after failing to stay above the psychological resistance level of $3,370. Investors...