Gold prices held above $4,100/oz on Tuesday (November 11) during the Asian session. This was supported by increasing expectations of a Fed interest rate cut following a series of weak US economic data. On Monday, gold briefly touched a two-week high, while inflows into global gold ETFs in October increased again, providing a more solid basis for demand. The dollar also weakened on hopes of a resolution to the US government shutdown, while the US 10Y yield held near 4.12%, a tame level supporting gold. At the time of this analysis, gold prices were around $4,118. Disclaimer:This article is...
Gold prices rose again, boosted by demand for safe havens amid low trading volumes after the Christmas holiday as markets await signals on the U.S. economy under the incoming Trump administration and the Federal Reserve's interest rate strategy for 2025. Part of the rise in gold prices is related to what is happening in Ukraine with Russia's attack on Ukraine's power system. President Joe Biden said Wednesday that he asked the U.S. Defense Department to resume a surge in arms shipments to Ukraine after condemning Russia's Christmas Day attacks on several Ukrainian cities and its power...
Gold prices in the short and medium term, prices may experience fluctuations and volatility because there is no overall driving force amid the holidays, analysts at Nanhua Futures wrote in a note.As of this news release, Gold prices are at $2,626 Source: Newsmaker.id
Gold rose above $2,610 an ounce on Tuesday, recovering losses from the previous session amid sluggish holiday trading. Investors continued to assess the Federal Reserve's outlook for next year, pricing in a slower pace of interest rate hikes in 2025 after the Fed signaled fewer tapers. However, this view was challenged by weaker-than-expected U.S. PCE inflation, which suggested more rate cuts are likely, benefiting non-yielding bullion. Meanwhile, the World Gold Council reported strong central bank demand, reinforcing gold's status as a safe-haven asset.Until this news was released, the Gold...
Silver moved above $29.50 an ounce, recovering from a three-month low of $29 hit on Dec. 19 as markets reconsidered the level of hawkishness expected from the Fed next year. Lower-than-expected core PCE prices in November eased concerns about overly tight interest rates fueled by hawkish projections from FOMC members, lowering bond yields and supporting the precious metal.As of this News Release Silver Price is at $29,647 Source: Newsmaker.id
Gold has been steady in quiet holiday trading but a stronger dollar is still weighing on the market, Pranav Mer, an analyst at JM Financial Services Ltd. in Mumbai, said in a note on Tuesday.Earlier this month, the Fed reined in the number of interest rate cuts it expects in 2025 as Chairman Jerome Powell made clear that the central bank needs to see price pressures ease further. Lower borrowing costs are usually a positive for the precious metal, which pays no interest. Source: Newsmaker.id