Gold prices fell on Tuesday after rising dollar and US bond yields offset support for the precious metal on rising inflation fears and appeared to be on track for a second consecutive monthly decline. Spot gold fell 0.4 percent to $1,848.60 an ounce at 1025 GMT, and was down 2.5 …
Read More »Gold steadies above $1850
Gold begins the trading week with relatively positive performance, up by 0.20%. the Holiday in the US is expected to keep the precious metal’s prices within a tighter range amid a busy US economic calendar week.An absent US economic docket on Monday keeps gold traders leaning on market sentiment and …
Read More »Fed’s Waller Supports 50 bps Hikes At Next FOMC meetings
Member of Fed Board of Governors, Chris Waller said on Monday that he supports hiking interest rates by another 50 bps at the next several FOMC meetings and that the policy rate should be above neutral by the end of the year to reduce demand, reported Reuters. Waller also said …
Read More »Gold prices rise in volatile trading with the decline of the dollar
Gold prices rose in choppy trading on Monday, boosted by a weaker dollar, although some investors’ shift to riskier assets in Asia limited those gains. And gold rose in spot transactions 0.2 percent to $ 1856.86 an ounce at 0152 GMT. US futures rose 0.1 percent to $1,859.40 an ounce. …
Read More »Financial Markets’ Weekly Recap, 23 – 27 May
Wall Street closed sharply higher on Friday, as signs of inflation peaking and then data on consumer spending increased investor optimism that the Federal Reserve would be able to tighten monetary policy without pushing the economy into recession. All three major US stock indexes halted their longest streak of weekly …
Read More »Market Drivers – US Session – 27 May
The EUR/USD reached a fresh four-week high, around 1.0765, but in the last hour, retreated 30 pips, as the New York session come to close, on a positive trading session, courtesy of positive US data. At 1.0735, the EUR/USD is set to record weekly gains of 1.66% amidst a week …
Read More »Gold steadies around $1850s, hopeful for a catalyst to $1900
Gold price climbs during the New York session but is still unable to challenge the weekly highs and remains glued to the 20-day moving average (DMA) near the $1848.48 area. Gold seems to aim at finishing the week’s trading with some 0.37% gains. US Core PCE eases from 5.1% YoY, …
Read More »USD/CAD’s selling pressure stands around 1.2780s
The Canadian dollar is recording goodish gains in the week of 0.85%. Friday’s positive market sentiment boosted the appetite for high-beta currencies, like the CAD.The USD/CAD edges lower in the North American session, extending its weekly losses for the third successive week as investors shrugged off an aggressive Fed, as …
Read More »Gold is heading for weekly gains with the dollar’s decline
Gold prices rose on Friday, with continued dollar weakness, which helped move the yellow metal towards recording its second consecutive weekly rise, as expectations of a stronger monetary policy tightening from the Federal Reserve ebbed. Spot gold rose 0.2 percent to $1,854.05 an ounce by 0325 GMT. US gold futures …
Read More »US Treasury yields settle on slower growth expectations
US Treasury yields slightly changed on Thursday after the benchmark 10-year note hit a fresh six-week low, with inflation concerns that continue to dissipate amid economic data and corporate results that point to slower economic growth.The yields on 10-year Treasury notes surge 0.9 basis points to 2.756% after falling to …
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