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Gold Breaks Record for Fourth Day as Rally Maintains Momentum

Friday, 8 March 2024 23:40 WIB | Gold

Gold notched a new all-time high for a fourth consecutive day, in a rally fueled by growing hopes for interest-rate cuts, central bank buying and renewed investor interest. Spot bullion rose as much as 0.4% to record $2,168.75 an ounce, extending a 6% surge that started a week ago. The scale and...

Gold eyes best week in five months ahead of US jobs data

Friday, 8 March 2024 18:48 WIB | Gold

Gold prices were poised for their biggest weekly jump in five months on Friday, hovering near a historic high, as Federal Reserve Chair Jerome Powell's remarks cemented mid-year rate cut bets, ahead of a key jobs report later in the day. Spot gold was little changed at $2,157.16 per ounce, as of...

Gold Edges Higher, Supported by Fed Rate-Cut Bets

Friday, 8 March 2024 14:07 WIB | Gold

Gold edges higher in the early Asian session, supported by bets for Fed rate cuts, which would increase the allure of the non-interest-bearing precious metal. Fed Chair Powell ended his two-day congressional testimony by saying that, if the U.S. economy does as expected, the Fed will consider...

Market Review Thursday, March 7, 2024

Friday, 8 March 2024 10:59 WIB | Market update

Nikkei Tokyo shares trimmed early gains to end lower Thursday, as chip-linked shares lost momentum and investors were spooked by the yen's shift towards appreciation. The benchmark Nikkei 225 index dropped 1.23 percent, or 492.07 points, to 39,598.71, while the broader Topix index slid 0.44...

Gold Closes at a Record for Fifth-Straight Day as the Dollar Drops After Powell Testimony

Friday, 8 March 2024 08:54 WIB | Gold

Gold closed higher on Thursday, pushing up to a fresh record for a fifth-straight session as the dollar slipped after Federal Reserve chair Jerome Powell said in testimony to Congress he expects interest-rate cuts should begin this year, though his outlook remains cautious. Gold for April...

Gold Extends Record-Breaking Run as Powerful Mix Builds Momentum

Friday, 8 March 2024 02:48 WIB | Gold

Gold extended its record-breaking rally to a fresh all-time high, as speculation over the Federal Reserve’s pivot, geopolitical risks and buying by macro funds helped spur momentum. Bullion rose to a peak of $2,161.48 an ounce, after adding nearly 6% in the past five sessions. A gain on...

Gold Extends Rally To Record As Powell Hints At Rate Cut In 2024

Thursday, 7 March 2024 22:29 WIB | Gold

Gold prices surged to a record high on Thursday, poised for their seventh consecutive daily rise, led by sluggish U.S. economic data and Federal Reserve Chair Jerome Powell's indications of potential rate cuts in the coming months should inflation alleviate. Spot gold rose 0.3% to $2,155.42 per...

Gold Hits Fresh Record After Fed Says Rate Cut Likely This Year

Thursday, 7 March 2024 18:17 WIB | Gold

Gold climbed to a record high to extend a sharp rally fueled by indications the Federal Reserve will cut interest rates this year. Bullion rose to a peak of $2,161.48 an ounce, after adding nearly 6% in the previous six sessions. A gain on Thursday would mark the longest run of daily...

Gold Holds Near Record After Fed Says Rate Cut Likely This Year

Thursday, 7 March 2024 15:30 WIB | Gold

Gold held near a record high, after a sharp rally over the previous six sessions, buoyed by indications the Federal Reserve will cut interest rates this year. Bullion rose to a peak of $2,152.25 an ounce on Wednesday, surpassing a record set the day before. It’s advanced almost 6% in six...

Gold Steady; Rally Extension Likely U.S. Data Dependent

Thursday, 7 March 2024 14:48 WIB | Gold

Gold is steady in the early morning Asian session, with more U.S. economic data likely needed to extend the current rally, analysts say. Market participants probably have to watch February and March data before another move higher by the precious metal, with Friday's U.S. nonfarm payrolls data...

Market Review Wednesday, March 6, 2024

Thursday, 7 March 2024 11:04 WIB | Market update

Nikkei Tokyo's key Nikkei index ended marginally lower on Wednesday as global investors locked in profits after recent rallies. The benchmark Nikkei 225 index edged down 0.02 percent, or 6.85 points, to end at 40,090.78, while the broader Topix index added 0.39 percent, or 10.74 points, to...

Gold Posts Another Record Sessions as Fed Chair's Testimony Offers Little Detail on Rate Cut Timing

Thursday, 7 March 2024 08:58 WIB | Gold

Gold closed at record high for a fourth-straight session on Wednesday as congressional testimony from Federal Reserve chair Jerome Powell, did not shed light on when the central bank will begin lowering interest rates. Gold for April delivery was last seen closed up US$16.30 to US$2,158.20 per...

Gold Hits Fresh High After Powell Says Rate Cut Likely This Year

Thursday, 7 March 2024 05:44 WIB | Gold

Gold set a new record, while other precious metals also chalked big gains, after Federal Reserve Chair Jerome Powell reiterated the US central bank will likely cut interest rates this year. Bullion hit a fresh high of $2,149.25 an ounce, while palladium broke the $1,000-an-ounce mark to post...

Gold Holds Near All-Time-High Levels Ahead Of Fed Testimony

Thursday, 7 March 2024 03:24 WIB | Gold

Gold prices gained on Wednesday to trade near previous session's record highs as markets expect Federal Reserve Chair Jerome Powell's testimony later in the day to reveal clues on a potential June rate cut. Spot gold was gained 0.3% to $2,132.80 per ounce, as of 1249 GMT after hitting a historic...

Gold Steady After Surging to Record on Rate-Cut Bets, Haven Bids

Wednesday, 6 March 2024 22:26 WIB | Gold

Gold steadied after surging to a record in the previous session, boosted by expectations for US rate cuts, geopolitical tensions and the risk of a pullback in equity markets. Bullion rose to a peak of $2,141.79 an ounce on Tuesday, surpassing the high set in early December. The precious...

Gold prices fall from record highs, but risk aversion limits losses

Wednesday, 6 March 2024 19:16 WIB | Gold

Gold prices fell from record highs in Asian trade on Wednesday as traders remained on edge before a closely-watched testimony from Federal Reserve Chair Jerome Powell, although a rout in risk-driven markets pointed to more safe-haven demand. The yellow metal shot up to record highs on Tuesday,...

Gold Edges Lower in Likely Technical Correction

Wednesday, 6 March 2024 14:24 WIB | Gold

Gold edges lower in the early Asian session in a likely technical correction after gold futures extended their rally on Tuesday and marked a third straight session at record settlement. Investors seem to be increasingly expecting a U.S. recession by late 2Q against a backdrop of stickier housing...

Market Review Tuesday, March 5, 2024

Wednesday, 6 March 2024 11:03 WIB | Market update

Nikkei Tokyo's key Nikkei index closed flat on Tuesday after hitting a fresh record the previous day as chip shares trimmed gains. The benchmark Nikkei 225 index inched down 0.03 percent, or 11.60 points, to end at 40,097.63, while the broader Topix index climbed 0.50 percent, or 13.65 points,...

Gold Closes at a Fresh Record as Treasury Yields Ease; Buying Momentum Continues

Wednesday, 6 March 2024 08:56 WIB | Gold

Gold rose a new record for the third-straight session on Tuesday as buying momentum for the precious metals continues. Gold for April delivery closed up US$15.60 to settle at US$2,141.900 per ounce, surpassing the record close set a day earlier. The price of the metal is being supported by...

Gold Climbs to Record as Momentum Builds on Bets Over Fed Pivot

Wednesday, 6 March 2024 08:13 WIB | Gold

Gold touched an all-time high as fund buying combined with speculation over a Federal Reserve pivot and geopolitical and financial risks underpinned a rally in the precious metal. Bullion rose as much as 1.3% to $2,141.79 an ounce before paring gains, with Tuesday’s high topping the previous...

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