US equities ended lower on Tuesday as investors grappled with downbeat economic data, rising trade tensions, and mixed corporate earnings. The S&P 500 dropped 0.5%, the Nasdaq slid 0.7%, and the Dow slipped by 62 points, following Monday's sharp rebound from Friday's losses tied to a disappointing jobs report. Concerns about stagflation resurfaced after the ISM Services index showed activity had stalled in July. Meanwhile, President Trump's threats of steep tariffs up to 250% on pharmaceutical imports alongside potential levies on semiconductors, added to market unease amid ongoing...
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...
Silver (XAG/USD) prices continued to rally near $29.80 during the European session on Friday. The white metal gained strength on increased safe-haven demand amid rising geopolitical tensions. According to a report from Axios, US President Joe Biden discussed the possibility of an attack on Iran's nuclear facilities with his national security team, with President-elect Donald Trump weeks away from taking office. Axios reported that White House National Security Advisor Jake Sullivan presented President Biden with several options for a possible US strike on Iran's nuclear sites. Historically,...
Silver (XAG/USD) prices extended its gains for the third straight day, trading around $29.60 per troy ounce during Asian hours on Friday (3/1). The ongoing rally was attributed to strong safe-haven demand amid persistent geopolitical tensions in the Middle East and the ongoing Russia-Ukraine conflict. Axios cited three sources, who indicated that US President Joe Biden is reportedly exploring contingency plans to target Iran's nuclear facilities if Tehran makes significant progress in developing a nuclear bomb before Donald Trump's inauguration on January 20. The talks underscore growing...
Gold prices were steady during the Asian session on Friday (3/1) on the back of a weaker US dollar and safe-haven inflows, with the precious metal heading for a weekly gain as attention turns to proposed policy changes by US President-elect Donald Trump that could affect the economic outlook and interest rates going forward. Russia also launched another drone strike on Kyiv early Wednesday, causing damage in at least two districts. Traders are looking ahead to next week's US jobs data, the ADP employment report, the Fed's December FOMC meeting minutes and the US employment report to gauge...