Precious Metal Market
Gold prices edged lower on Wednesday, pressured by higher U.S. Treasury yields and a stronger dollar after data suggested the Federal Reserve might slow the pace of rate cuts this year.
Gold prices inched higher on Monday, supported by a softer dollar, while investors awaited a slew of U.S. economic data including the December nonfarm payrolls report for further guidance on the Federal Reserve’s interest rate stance.
Spot gold edged higher on Monday, supported by short covering after a weekly loss on Friday due to the Federal Reserve’s cautious stance on rate cuts in the upcoming year.
Gold prices were set for a weekly decline on Friday after the Federal Reserve’s verdict on its monetary policy-easing cycle signaled a slowdown in rate cuts, while focus shifted to the U.S. Personal Consumption Expenditure data due later in the day.
Gold slipped on Thursday as investors booked profits after prices hit more than one-month high earlier in the day on increased expectations of an interest rate cut by the Federal Reserve next week.
Gold prices scaled a two-week peak on Wednesday, supported by escalating geopolitical tensions and expectations of another rate cut by the U.S. Federal Reserve next week, and ahead of the closely watched U.S. inflation report later in the day.
Gold prices extended gains on Tuesday, buoyed by top consumer China’s pledge to ramp up policy stimulus to help spur economic growth, with investors awaiting U.S. inflation data for further insights into the Federal Reserve’s interest rate outlook.
Gold prices steadied on Wednesday as markets awaited U.S. jobs data and comments from Federal Reserve Chair Jerome Powell for further insights into the U.S. interest rate cut trajectory.
Gold prices were steady on Tuesday as investors took a cautious stance ahead of the upcoming U.S. economic data that could provide insights into the Federal Reserve’s interest rate path.
Gold prices rose on Friday, helped by a slight dip in the U.S. dollar and growing geopolitical tension, but remained on track for a weekly decline as markets awaited key U.S. data for further insights into the Federal Reserve’s monetary policy direction.
This will close in 0 seconds
