Silver (XAG/USD) prices traded in a tight range around $29.00 in the European trading session on Friday. The white metal consolidated as investors await the US (US) core Personal Consumption Expenditures (PCE) Price Index data for November, due at 13:30 GMT. Economists expect the US annual core PCE inflation data to rise to 2.9% from 2.8% in October. On a monthly basis, the underlying inflation data is expected to grow steadily at 0.2%. Signs of a mild slowdown in price pressures are unlikely to affect market expectations that the Federal Reserve (Fed) will halt its policy easing at its...
Gold (XAU/USD) is trading on a modest positive note on Friday after a sharp sell-off earlier this week. However, upside attempts remain limited as investors gear up for the release of the US Personal Consumption Expenditures (PCE) Price Index. On Thursday, an upward revision to the US Gross Domestic Product (GDP) in the third quarter, and lower-than-expected Jobless Claims have supported the Federal Reserve's (Fed) hawkish stance for 2025. This has kept the US Dollar index stuck near a two-year high ahead of the release of the Fed's favorite inflation gauge. Investors are waiting to see...
Gold (XAU/USD) is trading with a moderate positive tone on Friday following the sharp sell-off earlier this week. Cooler-than-expected US Personal Consumption Expenditures (PCE) Price Index data on Friday has increased selling pressure on the US Dollar, although the precious metal is struggling to put a significant distance from the one-month lows hit this week. PCE Inflation has increased 0.1% in November, against expectations of a 0.2% increment. The yearly rate accelerated to 2.4% from the previous month's 2.3% reading, still below the 2.5% anticipated by the market consensus. Likewise,...
Oil prices edged higher on Friday as the dollar eased from two-year highs and as a slowdown in the inflation report bolstered expectations of two more rate cuts next year.Brent crude futures edged up 16 cent, or 0.2%, to $73.04 a barrel by 1:03 p.m. EST (1803 GMT). U.S. West Texas Intermediate crude futures gained 21 cents, or 0.3%, to $69.59 per barrel.The Brent benchmark was on track to end the week down about 2.5%, while WTI was set to ease about 3%.While the U.S. dollar retreated from a two-year high on Friday, it was heading for its third consecutive week of gains, with data showing a...
The U.S. dollar pulled back from a two-year high on Friday, but was heading for its third-straight week of gains, with data showing a slowdown in inflation two days after the Federal Reserve cut interest rates and indicated inflation was stubborn enough to scale back cuts in 2025. The dollar was down 0.72% against a basket of six other currencies at 107.64 after spiking as high as 108.54 - its highest level since November 2022. It was set to end the week 0.72% higher. Commerce Department data showed the personal consumption expenditures price index - the Fed's preferred inflation gauge -...