Precious Metal Market
Gold retreated back under $2,000 an ounce on Friday as the dollar and Treasury yields strengthened after traders trimmed bets for U.S. interest rate cuts to materialize by March following stronger-than-expected jobs data.
Gold slipped on Thursday but posted a second straight monthly gain as expectations that the Federal Reserve may soon cut interest rates enhanced the appeal of non-yielding bullion.
Gold rose for a fourth consecutive session on Tuesday and hit a more than six-month high, driven by a retreating dollar and expectations that the U.S. Federal Reserve has finished hiking interest rates.
Gold steadied after touching a six-month peak on Tuesday, as expectations of an end to the U.S. Federal Reserve’s interest rate hike cycle kept the dollar and bond yields under check.
Gold prices rose on Friday, on track for their second consecutive weekly gain, with a boost from a drop in the U.S. dollar and bets the U.S. Federal Reserve might soon end its interest rate-hiking cycle.
Gold prices rose on Thursday, hovering close to a key $2,000 per ounce level, as an overall weaker U.S. dollar and lower Treasury yields buoyed demand for bullion.
Gold prices fell below the key $2,000 per ounce level on Wednesday as the U.S. dollar rebounded from lows and Treasury yields pared losses, while expectations that the Federal Reserve will pause rate hikes limited the slide in bullion.
Gold hurdled over the $2,000 mark on Tuesday, buoyed by expectations that the Federal Reserve had reached an interest rate peak after minutes from the U.S. central bank’s latest meeting anchored a cautious approach to more hikes.
Gold prices rose on Tuesday, supported by a weaker U.S. dollar and Treasury yields as investors look forward to minutes from the Federal Reserve’s latest meeting for more guidance on its interest rate outlook.
Gold prices held steady on Friday but registered a big weekly gain as the dollar and Treasury yields weakened amid growing expectations that the U.S. Federal Reserve is done with its monetary policy tightening.
