Precious Metal Market
Gold prices climbed for a third consecutive session to mark a one-week high on Wednesday, as investors sought refuge in the safe-haven metal amid mounting geopolitical unease fuelled by escalating Russia-Ukraine tensions.
Gold prices rose more than 1% on Thursday, helped by a retreat in the U.S. dollar, while the Federal Reserve cut interest rates by a quarter of a percentage point as widely expected.
Gold held steady on Wednesday as investors keenly awaited the outcome of a tightly contested U.S. presidential race.
Author : Ambar Warrick
Investing.com– Gold prices rose in Asian trade on Monday, remaining in sight of record highs as anticipation of a tight presidential election and an upcoming Federal Reserve meeting kept haven demand high.
Gold prices nudged higher on Thursday, while traders await a key U.S. inflation data due later in the day to gauge the Federal Reserve’s future monetary policy stance.
Gold prices edged lower on Tuesday, pressured by a stronger dollar, while market participants awaited minutes of the Federal Reserve’s last meeting and economic data for further cues on U.S. interest rate path.
Gold prices fell on Friday after a stronger-than-expected U.S. jobs report boosted the dollar and caused analysts to scale back expectations of an aggressive rate cut from the Federal Reserve next month.
By Haresh Menghani
Gold prices were trading in a tight range on Thursday as traders remained on the sidelines ahead of a key U.S. economic data that may provide clues about the size of the Federal Reserve’s interest rate cuts expected later this year.
Gold prices were flat on Wednesday, as a firmer dollar partially offset safe-heaven demand amid heightened Middle East tensions, while investors awaited U.S. data for further economic cues.
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