Precious Metal Market
Gold prices rose slightly on Wednesday helped by lower Treasury yields, but were stuck in a tight range as investors waited for more U.S. data to gauge the Federal Reserve’s next step on monetary policy.
Gold prices inched down on Tuesday after rising 1% in the previous session as investors awaited U.S. jobs data due later this week for clues on the Federal Reserve’s interest rate trajectory.
Gold prices were little changed on Monday as traders awaited more U.S. economic data this week, after recent data showed that inflation stabilized and lifted hopes for the Federal Reserve to cut interest rates later this year.
Gold prices were set for a fourth straight monthly gain, even as the market struggled for momentum on Friday ahead of a key U.S. inflation reading that could provide more indications on how the Federal Reserve might proceed with rate cuts later this year.
Gold prices were steady and hovered above key $2,400 level on Wednesday, while investors await minutes from the Federal Reserve’s latest policy meeting for fresh signals on the timing of U.S. interest rate cuts.
Gold prices rose to an all-time high on Monday as a cocktail of factors from U.S. rate cut expectations, China’s stimulus measures to geopolitical tensions lifted demand, with the momentum also carrying silver to a more than 11-year peak.
Gold prices hit an all-time high on Monday as a slowing U.S. inflation trend boosted expectations that the Federal Reserve could deliver its first interest rate cut soon, while silver scaled a more than 11-year peak.
Gold prices appeared set for a second consecutive weekly gain on Friday, after recent U.S. inflation data fueled expectations that the Federal Reserve could cut interest rates this year.
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.
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