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Gold Gains Ground as Dollar and Yields Retreat, But Remains Under Record High

Gold Gains Ground as Dollar and Yields Retreat, But Remains Under Record High

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Gold prices witnessed an upward trend on Tuesday morning, fueled by a weakening dollar and falling treasury yields. However, the precious metal still sits below its record high set last Friday. February gold contracts experienced an increase of $5.30, reaching $2,047.50 per ounce. This follows a record-breaking closing price of $2,059.60 on Friday. The rise …

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Dollar Unmoved by US Credit Rating Outlook Downgrade

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The US dollar remained largely unchanged on Monday, despite Moody’s lowering its credit rating outlook for the country from stable to negative. Moody’s cited increasing fiscal deficits and political standoffs in Washington as key factors in its decision. The rating agency warned that without effective fiscal policy measures to reduce government spending or increase revenues, …

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Gold Prices Remain Under Pressure Amidst Rising Dollar

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Gold prices remained under pressure on Wednesday, trading below $1,970 an ounce. This decline comes after two consecutive sessions of losses, as investors remain cautious ahead of US Federal Reserve Chair Jerome Powell’s speech later today. In recent comments, Minneapolis Federal Reserve President Neel Kashkari indicated that it is too early to declare victory over …

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Dollar Stays Strong as Investors Await Fed Meeting

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The dollar index remained stable near 106.5 on Monday, close to its three-week high, as investors prepared for the Federal Reserve’s monetary policy meeting this week. While no interest rate change is anticipated from the central bank on Wednesday, markets will be keen to see how the Fed plans to tackle persistent inflation without exacerbating …

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Gold at Two-Week High as Treasury Yields Dip, Fed Minutes in Focus

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Gold prices hit a near-two-week peak on Wednesday, supported by a dip in U.S. Treasury yields and dovish remarks from Federal Reserve officials. The Fed’s latest policy minutes are due at 1800 GMT, and traders are also awaiting U.S. Consumer Price Index data on Thursday for more clues on the interest rate path. Spot gold …

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Dollar Pressured by Rate Pause Bets, Israeli-Palestinian Conflict Jolts Markets

Dollar Pressured by Rate Pause Bets, Israeli-Palestinian Conflict Jolts Markets

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The dollar index held recent losses to trade around 106 on Tuesday, facing pressure from growing expectations that the Federal Reserve will not raise interest rates in November. The greenback’s decline was exacerbated by the ongoing conflict between Israel and Palestinian Islamic Group Hamas, which jolted financial markets on Monday and briefly drove safe-haven demand …

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Gold, Copper Price Plunge to Multi-Month Lows as Rate Hike Fears Mount

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Gold and copper prices tumbled to their lowest levels in several months on Tuesday, as investors grew increasingly concerned about the prospect of aggressive interest rate hikes from central banks around the world. Three-month copper futures fell 1.2% to $7,968.50 a metric ton, their lowest level since late May. Aluminum futures also fell 1% to …

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Dollar strength keeps yen under pressure, but intervention unlikely

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The yen remains under pressure as the dollar strengthens against its major peers, with investors jittery about the prospect of aggressive interest rate hikes by the US Federal Reserve. Japanese Finance Minister Shunichi Suzuki has warned that the government is watching the currency market closely and stands ready to intervene, but traders believe that the …

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