Gold prices climbed on Tuesday, buoyed by expectations of an early interest rate cut by the Federal Reserve. With traders placing an 89% chance of a March 2024 decrease, the precious metal gained as the dollar and bond yields weakened. Looking ahead: Analysts see potential for gold to breach the $2,080 level if the dovish …
Gold Rises on Fed Rate Cut Talk, Eyes $2,080 Level Read More »
The bone indicator held around 102.4 on Thursday, remaining in a sideways trading range as investors continued to assess the outlook for Federal Reserve financial policy, while a sharp selloff in equities handed some support. Investors also avoided making big bets ahead of final third-quarter GDP numbers on Thursday and the November core PCE indicator on Friday. The Fed-preferred affectation hand is read to rise0.2 month-on-month in November, while the periodic rate is seen decelerating to its smallest since 2021 at 3.3. Meanwhile, the bone indicator remained close to its weakest situation since August as a recent pushback from Fed officers did little to alter prospects that the central bank will start cutting interest rates coming time. requests still see around a 70 chance that the Fed will deliver the first rate cut in March.
After a two-day rally, profit-taking sent gold prices lower despite a weaker dollar and lower treasury yields. Gold dipped $4.50 to $2,047.60, retreating from its record high and briefly revisiting below $2,000. The dollar’s decline and low bond yields usually boost gold, but profit-taking took precedence today. Gold’s upward momentum stalled on Wednesday as investors cashed in gains from recent …
Gold Falls on Profit Taking as the Dollar and Treasury Yields Weaken Read More »
Gold prices climbed early Friday, extending gains for the third straight day, as the Federal Reserve’s dovish pivot buoyed its appeal. The dollar, however, bounced back from five-month lows, limiting gold’s upside. Analysts’ Take: Overall, the gold market is enjoying a short-term boost from the Fed’s dovish shift, but headwinds like a recovering dollar and …
Gold Gleams as Dovish Fed Fuels Rally, Dollar Rebounds Read More »
Gold prices hovered below $1,990 an ounce on Tuesday, weighed down by caution ahead of a crucial US inflation report and central bank meetings set for this week.
Gold prices dipped on Monday, weighed down by a stronger U.S. dollar and investor anticipation for central bank meetings and key U.S. economic data this week. Spot gold fell 0.5% to $1,993.44 per ounce by 11:48 GMT, while U.S. gold futures declined 0.3% to $2,009.30. The dollar’s rise made gold more expensive for buyers holding …
Gold Slips Under Pressure From Rising Dollar and Upcoming Fed Meeting Read More »
Gold price tumbled below the key $2,000 mark on Monday, hitting its lowest in two weeks. The decline reflects growing investor caution ahead of crucial central bank meetings this week. The Federal Reserve, the European Central Bank, and the Bank of England are all expected to announce their latest monetary policy decisions, with potential implications …
Gold Dives Below $2,000 as Investors Brace for Central Bank Decisions Read More »
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 …
Gold Gains Ground as Dollar and Yields Retreat, But Remains Under Record High Read More »
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, …
Dollar Unmoved by US Credit Rating Outlook Downgrade Read More »
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 …
Gold Prices Remain Under Pressure Amidst Rising Dollar Read More »