Gold surged above the key $3,800-per-ounce level for the first time ever on Monday, supported by a weaker dollar and growing expectations that the Federal Reserve will cut interest rates further this year. Spot gold jumped 1.1% to $3,801.88 per ounce by 0435 GMT. U.S. gold futures for December delivery rose 0.6% to $3,831.90. The U.S. dollar index, opens new tab eased 0.2% against its rivals, making greenback-priced bullion less expensive for overseas buyers. The U.S. Commerce Department said on Friday its Personal Consumption Expenditures Price Index (PCE) rose 0.3% in August, versus a...
Gold prices surged above $3,800 per oz for the first time on Monday, boosted by growing speculation of a US Federal Reserve interest rate cut, weakening the dollar, while concerns over a possible US government shutdown boosted demand for safe-haven assets. Spot gold prices jumped 1.5% to $3,816.79 per oz at 09:23 GMT, after reaching $3,819.59 earlier in the session. US gold futures for December delivery rose 1% to $3,846.60. The US dollar index fell 0.3%, making dollar-priced bullion cheaper for overseas buyers. US President Donald Trump will meet with Democratic and Republican leaders in...
Oil declined on signals that OPEC+ will hike production again in November, tempering a strong rally last week. Brent fell back below $70 a barrel after closing at the highest level since late July on Friday. The OPEC+ alliance led by Saudi Arabia is considering raising output by at least as much as the 137,000 barrel-a-day hike scheduled for next month, according to people familiar with the plans. While such an increase could add supply to a market in which there's already expected to be an excess, it would also bring further scrutiny to which of the group's members are...
The dollar weakened on Monday (September 29) amid concerns over a potential government shutdown, with the yen outperforming the euro ahead of a series of US economic data releases that could provide further clues about the direction of Federal Reserve policy. The dollar strengthened last week following economic data that pushed down expectations for a Fed rate cut. Traders now expect the Fed to ease policy by 40 basis points in December and a total of 105 basis points by the end of 2026, about 25 basis points lower than the levels seen in mid-September. US GOVERNMENT SHUTDOWN PARTIALLY...
Gold (XAU/USD) shines bright at the start of the new week, climbing past $3,800 for the first time and reaching a fresh record high. The yellow metal continues its historic run, printing yet another all-time high near $3,831 on Monday. At the time of writing, XAU/USD is trading near $3,826, up around 1.70% on the day, extending its record-breaking rally into a seventh straight week. After spending much of last week consolidating just below the previous all-time high near $3,791, momentum returned on Friday following the release of the US Personal Consumption Expenditures (PCE) inflation...