Gold prices retreated in Asian trading on Monday, despite a weaker dollar and increased expectations of rate cuts. A surge in risk-driven assets, fueled by optimism over cooling U.S. inflation and potential easing of geopolitical tensions in the Middle East, overshadowed the allure of the yellow metal. Spot gold declined …
Read More »Market Drivers; US Session, May 30
The US Dollar experienced a corrective movement on Thursday, which helped the risk complex recover some ground before the release of the US PCE and advanced inflation data for the euro area, which are all scheduled for Friday.CurrenciesThe USD Index (DXY) came under pressure and retreated from weekly highs past …
Read More »Yen retreats to 4-week lows versus surging dollar
The dollar rose today, boosted by higher US bond yields ahead of key inflation data later in the week and strengthened against the Japanese yen. The dollar reached as high as 157.715 yen, edging closer to levels that led to bouts of likely intervention from Tokyo at the end of …
Read More »Dow Jones sheds 400 points amid risk aversion
The Dow Jones Industrial Average has fallen over 400 points and is now below 38,500.00, with the major equity index down nearly nine-tenths of a percent due to investor sentiment. Demand for treasuries is declining as bid-to-cover ratios on key Treasury auctions decrease, putting downward pressure on equities and bolstering …
Read More »What role have T-yields recently played in US dollar’s, gold’s price action?
The US dollar continues to rise, up 0.42% at 105.057, amid the absence of US data on the economic calendar on Wednesday, on the back of the surging US Treasury bond yields, which have continued to rise since the beginning of trading this week.US Treasury bond yields continue to rise, …
Read More »Sterling retreats to fresh weekly lows as bears eye 1.2700
The GBP/USD pair tumbles to new three-day low as ‘evening star’ chart pattern emerges. Buyers’ momentum begins to fade as RSI aims toward the 50-midline. If the pair drops below 1.2700, look for further losses; otherwise, bulls can challenge 1.2800.The British Pound fell to a new weekly low against the …
Read More »Yellen warns higher rates make it harder to manage deficit
Treasury Secretary Janet Yellen has warned that the outlook for higher interest rates over the long haul makes it harder to contain US borrowing needs, heightening the importance of boosting revenue in negotiations with Republican lawmakers.The White House sees the inflation-adjusted interest payments compared with GDP as stabilizing at about …
Read More »Gold Prices Hit Record High Amid Middle East Tensions and Metal Market Rally
Gold prices surged to a record high in Asian trade on Monday, driven by heightened geopolitical tensions in the Middle East and a broader rally across metal markets. The increased demand for safe haven assets reflected growing concerns over regional stability and potential escalation of conflicts. Spot gold climbed nearly …
Read More »Gold Prices Dip Amid Fed Officials’ Cautious Stance, but Weekly Gains Persist
Gold prices saw a slight decline on Friday, trimming some of the week’s gains, as Federal Reserve officials provided a more cautious outlook on potential interest rate cuts. Gold Retreats Amid Fed Caution Gold had surged close to $2,400 an ounce earlier in the week following softer U.S. economic data. …
Read More »Gold Prices Steady Amid Soft Inflation Data, Rate Cut Expectations Rise
Gold prices stabilized in Asian trading on Thursday following robust overnight gains, propelled by softer inflation data that drove the dollar to one-month lows and increased speculation of impending interest rate cuts. With the yellow metal now within reach of May’s record highs, traders are wagering that the Federal Reserve …
Read More »