US Stocks plunged on Friday, as investors reacted to a weak July jobs report and a fresh round of tariffs announced by President Trump. The S&P 500 and Nasdaq fell 1.6% and 2.2%, their steepest drops since April, while the Dow lost 542 points. Payrolls rose by just 73,000 in July, far below expectations, with sharp downward revisions to prior months signaling deeper labor market weakness. Treasury yields fell and the odds of a September Fed rate cut rose above 80%. Sentiment worsened after new tariffs of 10% to 41% were imposed on imports from key partners including Canada, India, and...
Silver prices followed gold's gains in the European session on Tuesday (10/12), trading near $31.90 and hitting an intraday peak of $32.04. The metal's safe haven status and close correlation with gold have supported its gains. Market uncertainty surrounding geopolitical instability and U.S. economic policy has boosted silver's appeal as a store of value. However, like gold, silver's rally has faced resistance from a stronger U.S. dollar. The People's Bank of China's gold purchases reflect broader global demand trends. Coupled with concerns about potential inflation stemming from Trump's...
Gold prices rose in Europe on Tuesday (10/12), still supported by optimism about a Fed rate cut this month, fiscal stimulus from China and geopolitical tensions in the Middle East. Investors are eyeing the release of the US Consumer Price Index (CPI) on Wednesday and the Producer Price Index (PPI) on Thursday, both of which are expected to have an impact on the Federal Reserve's interest rate cut decision. Traders now see about a 90% chance of a 25 basis point rate cut next week, according to the CME FedWatch tool, up significantly from 73% last week. Source: newsmaker.id
Silver (XAG/USD) prices extended its rally for the second day, trading around $32.00 per troy ounce during Asian hours on Tuesday. The daily chart analysis shows a bullish bias, with the currency pair moving up within an ascending channel pattern. Moreover, the 14-day Relative Strength Index (RSI) remains above the 50 mark, further supporting the bullish sentiment. The XAG/USD pair continues to trade above the nine- and 14-day Exponential Moving Averages (EMAs), strengthening the bullish outlook and signaling a strengthening of the short-term price momentum. This indicates increased buying...
Gold steadied after rallying as traders shifted focus to a key US inflation report due later this week that could shape expectations ahead of the Federal Reserve's final interest rate decision of the year. Bullion prices held near $2,660 an ounce — near a two-week high — after China's central bank added the precious metal to its reserves for the first time in seven months. Geopolitical concerns also fueled demand for safe-haven assets amid fears of a power vacuum in Syria after Bashar al-Assad was ousted from power over the weekend.
Gold prices (XAU/USD) moved higher in the American session, supported by its status as a safe asset amid rising uncertainty in the Middle East following the fall of the Bashar al-Assad regime in Syria.In addition, the People's Bank of China (PBOC) announced over the weekend that it resumed Gold purchases in November after a six-month pause, which provided an additional boost to the precious metal.Data from the US released on Friday revealed that the country's labor market remained solid, but the rising unemployment rate confirmed expectations that the Federal Reserve (Fed) will cut interest...