Precious Metal Market
Gold prices inched up on Thursday following a sharp rise in the last session as the dollar and bond yields weakened on the increasing likelihood of rate cuts by the U.S. Federal Reserve as early as September.
Gold prices rebounded on Tuesday, helped by a pullback in the dollar and Treasury yields after data showed U.S. producer prices rose more than expected in April and suggesting inflation remained high.
Gold prices dipped on Monday on profit-taking as investors looked forward to key inflation figures this week for clues on the U.S. interest rate cuts this year.
Gold prices climbed on Friday, en route to their best week in five, with zero-yield bullion building on momentum fueled by weaker U.S. jobs data this week that reinforced expectations for interest rate cut by the Federal Reserve.
Gold prices climbed more than 1% on Monday, as the U.S. dollar weakened after softer-than-expected U.S. jobs data fueled expectations of potential interest rate cuts by the Federal Reserve later this year.
Gold prices ticked higher on Monday, as expectations that the Federal Reserve will start cutting interest rates later in the year and tensions in the Middle East lifted bullion’s appeal.
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