Gold prices fell slightly in tonight's US session after previously hovering near a seven-week high. Amidst the already high levels, many market participants opted to take profits, leading to selling pressure, although the trend remains bullish. Several market reports indicate spot gold has fallen around 0.2–0.5% from its peak, while gold futures have weakened only slightly and remain in the upper range. In addition to profit-taking, gold was also pressured by a slight strengthening of the US dollar and rising US bond yields, as the market began to digest the Fed's decision and signals about...
Silver fell below $62 per ounce on Friday after touching record highs earlier in the day as the rally eased amid profit taking and a brief consolidation phase going into the weekend, even as the broader bullish backdrop remained intact. The recent US Federal Reserve rate cut and its less hawkish outlook continued to underpin medium term support, with Powell signaling no further hikes and projecting one additional cut next year and another in 2027. Robust ETF inflows and strong retail demand reinforced expectations of a market deficit next year, while industrial demand from solar, electric...
Gold (XAU/USD) advances modestly on Friday as traders seem to book profits ahead of the weekend, yet clings to gains of over 0.51% after reaching a seven-week high of $4,353 as traders digest comments from Federal Reserve (Fed) officials. Bullion trims gains ahead of the weekend, but remains supported by Fed uncertainty, weak data. The US economic docket was light, yet Federal Reserve officials crossed the wires. Two of the three dissenters expressed concerns about inflation remaining too high, specifically amid a period of scarce economic data, particularly the Consumer Price Index (CPI),...
The US dollar remains sluggish after experiencing intense pressure following the Fed's decision to cut interest rates by 25 bps. The US Dollar Index (DXY) remains in the lower zone and is trending lower weekly, as market participants assess the Fed's policy stance as being more dovish. Expectations of further interest rate cuts have diminished the dollar's appeal as a high-yielding asset, leading to more capital flows into other assets such as gold, silver, and some riskier currencies. Nevertheless, in the very short term, the dollar attempted a slight rebound in the US session as US bond...
Oil prices remain stable near their lowest level in almost two months, as the market is more concerned about oversupply than the impact of geopolitical tensions. Brent held around US$61/barrel after closing at its lowest level since October 20, while WTI remains below US$58/barrel. The main pressure comes from expectations of a widening supply surplus: OPEC+ and other producers continue to pump more oil, while consumption growth is expected to remain sluggish. This situation means oil prices are expected to remain on a downward path for the year. However, geopolitics is also preventing...