Precious Metal Market
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.
Gold eased on Monday, taking a breather after a historic rally driven by U.S. monetary easing and heightened Middle East tensions, which put it on course for its best quarter since 2020.
Gold prices were steady on Thursday, hovering close to record highs, on expectations of another big U.S. rate cut this year, although gains were limited ahead of remarks by key Federal Reserve policymakers later in the day.
Gold rose 1% and hit a record high on Tuesday, building on its recent rally as Middle East tensions fed its safe-haven appeal, while investors latched on to fresh cues for more U.S. interest rate cuts.
Gold prices steadied on Tuesday after surging to a record high in the previous session, following broadly dovish comments from U.S. Federal Reserve officials and escalating tensions in the Middle East.
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