Gold prices surged to record highs in Asian trade on Monday despite easing bets on U.S. rate cuts. The demand for the yellow metal remained strong due to safe-haven interest, and investors are looking for further cues on the U.S. economy. Spot gold rose as much as 0.7% to a record high of $2,353.81 an…
Gold had a 0.24% increase, ultimately closing at 62301, as bond yields and the US dollar declined. In order to get insight into prospective interest rate adjustments, investors eagerly await a significant inflation data and remarks from Federal Reserve officials. This week, there are ten lectures by Fed members slated to take place. China’s net…
Due to the small depreciation of the US dollar and the increasing tensions in the Middle East, gold prices surged to almost one-week highs on Monday. As of 03:35 , spot gold was up 0.4% at $2,021.09 an ounce, reaching a peak not seen since February 13. Additionally, U.S. gold futures increased 0.4% to $2,032.40…
In the previous trading session, gold showed strong performance, closing at 61769. It was up 0.43%. The increase in demand for safe haven assets due to the ongoing Middle East turmoil and a weaker US dollar were the reasons for the price surge. The cautious market mood is partly due to investors attentively following remarks…
Tuesday’s increase in gold prices followed several days of high gains in 2023, as traders welcomed the possibility of an early 2024 Federal Reserve interest rate decrease. The market greeted the Fed’s dovish signals with open arms, increasing betting that the bank may start reducing rates as early as March 2024. Spot prices of the…
The dollar index stayed below 104, and gold showed a slight rise, closing at 61,181, up 0.1%. Awaiting the Federal Reserve’s policy announcement on Wednesday, investors were intently examining the most recent Consumer Price Index (CPI) report. In line with market predictions, the U.S. consumer price inflation rate decreased to 3.1% in November, the lowest…
After traders processed Friday’s jobs news, the U.S. dollar and Treasury yields rose. This week’s U.S. inflation data will now be the focus, and gold yesterday finished down -0.18% at 59420. According to reports, the U.S. economy added fewer jobs than anticipated in July, but strong pay growth and a drop in the unemployment rate…
The US Federal Reserve’s hawkish comments yesterday caused gold to decline by -0.33% to settle at 59157. In its most recent report to Congress, the Fed said that while inflation in important segments of the US services industry “remains elevated and has not shown signs of easing,” it decided to leave interest rates steady but…
As investors await the votes on the debt deal, gold yesterday closed up by 0.33% at 60198 as the yield on the US 10-year Treasury note dropped to just 3.7%, significantly below the 3.85% seen last week. After passing a significant procedural obstacle, the debt-limit agreement reached by US President Joe Biden and Speaker Kevin…
On Tuesday, the prices for gold and silver both decreased. The price of June delivery gold futures on the multi-commodity exchange was Rs 60,903, down 124 points, and the price of July delivery silver futures was Rs 73,116, down 286 points. While the US debt-ceiling issue and fear of a default restrained additional losses in…
