Precious Metal Market
Gold prices were trading below record high levels on Wednesday after a rally fueled by Western fund inflows and U.S. rate-cut optimism, as investors braced for minutes of the Federal Reserve’s latest meeting for clarity on the depth of cuts.
Gold held steady near its record high on Tuesday as investors awaited U.S. Federal Reserve minutes and Chair Jerome Powell’s speech for indications on how much the central bank will cut rates this year.
Gold prices eased on Monday and hovered around key $2,500 level, as traders locked in profits following bullion’s climb to an all-time peak in the previous session on expectations of a U.S. interest rate cut next month.
Gold prices inched up on Thursday after a 1% decline in the previous session following inflation data that dampened hopes for a larger September U.S. rate cut, while the focus shifted to retail sales data.
Gold prices eased on Tuesday as profit-taking kicked in after bullion hit a more than one-week high, while market players awaited key U.S. inflation data that could provide further insight into the Federal Reserve’s next policy decision.
Gold prices struggled for momentum on Monday as investors looked forward to a key inflation report that could shed more light on the U.S. central bank’s next policy move.
Gold prices rose more than 1% on Thursday, supported by firm safe-haven demand and growing expectations for a sizeable interest rate cut from the U.S. Federal Reserve in September.
Gold prices firmed on Wednesday on mounting bets of U.S. interest rate cuts in September and rising geopolitical tensions in the Middle East, with markets awaiting U.S. economic data for clues on the Federal Reserve’s interest rate path.
Gold prices edged lower on Wednesday as the U.S. dollar and Treasury yields strengthened, while traders awaited further cues to gauge the size of the Federal Reserve’s likely September interest rate cut.
Gold prices retreated on Friday as profit-taking kicked in after bullion jumped over 1% earlier in the session on hopes of rate cuts buoyed by weaker than expected U.S. jobs data.
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