Precious Metal Market
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.
Gold prices climbed to a two-week high on Thursday as U.S. Federal Reserve Chair Jerome Powell opened the door to cutting interest rates as early as September.
Gold struggled for momentum on Tuesday as investors looked for more cues on when the U.S. central bank will cut interest rates from this week’s policy meeting and data releases.
Gold prices rose on Wednesday as the dollar slipped with investors’ focus shifting to U.S. economic data due this week for fresh signals on the timing of the central bank’s interest rate cuts.
Gold prices inched higher on Wednesday, with investors awaiting U.S. economic data that could influence the Federal Reserve’s rate-cut timeline.
Gold prices dipped more than 2% on Friday, as the dollar gained and profit taking kicked in following bullion’s all-time peak hit earlier this week, which was fuelled by rising expectations of U.S. interest rate cuts in September.
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