Gold attracts some buyers on global growth worries, rising Fed rate cut bets Gold price (XAU/USD) jumps to near $4,075 during the early European trading hours on Monday. The precious metal edges higher amid uncertainty over the US economic outlook. Traders ramped up bets on a US rate cut following weak US private jobs data and a downbeat University of Michigan (UoM) Consumer Sentiment Index survey. Lower interest rates could reduce the opportunity cost of holding Gold, supporting the non-yielding precious metal. On the other hand, signs that the US government shutdown may end could...
Oil gains on US government shutdown optimism Oil prices rose on Monday on optimism that the U.S. government shutdown could end soon and lift demand in the world's top oil consumer, offsetting concerns about rising supplies globally. Brent crude futures rose 50 cents, or 0.79%, to $64.13 a barrel by 0916 GMT. U.S. West Texas Intermediate crude was at $60.28 a barrel, up 53 cents, or 0.89%. The U.S. Senate on Sunday moved forward on a measure aimed at reopening the federal government and ending a now 40-day shutdown that has sidelined federal workers, delayed food aid and snarled air...
Oil prices held steady as calls to end the US government shutdown boosted the broader market, with crude traders also looking ahead to a data-heavy week that will provide insight into whether a global surplus is forming. West Texas Intermediate prices held near $60 a barrel after two weekly declines, while Brent traded around $64. In the US, the Senate took a major step toward reopening the US government after the longest-ever shutdown, which helped stocks and most commodities. Meanwhile, commodity trading advisors have deepened their bearish stance over the past week, according to data...
Gold prices surged more than 2% on Monday (November 10th), hitting a two-week high, as weak U.S. economic data reinforced expectations that the Federal Reserve would cut interest rates, boosting demand for the non-yielding asset. Spot gold rose 2% to $4,079.71 an ounce at 9:45 a.m. ET (14:45 GMT), after hitting its highest level since October 27 earlier in the session. U.S. gold futures for December delivery rose 2% to $4,090.80 an ounce. The dollar index (.DXY) weakened, making gold more affordable for foreign buyers. "Some of the weak data last week made the market a little more dovish...
Gold prices surged nearly 3% on Monday (November 10), hitting their highest level in more than two weeks, as weak U.S. economic data reinforced expectations that the Federal Reserve would cut interest rates, boosting demand for the non-yielding asset. Spot gold rose 2.8% to $4,111.39 an ounce at 2:21 PM ET (19:21 GMT) after hitting its highest level since October 24 earlier in the session. U.S. gold futures for December delivery rose 2.8% to close at $4,122.00 an ounce. "Some of the weak data last week made the market a little more dovish in their expectations for the Fed... We could still...