<\/p>\n\n\n\n
Chinese Markets Closed, Dollar Strength Curbs Safe-Haven Demand<\/em><\/p>\n\n\n\n Gold prices remained steady in subdued trading as Chinese markets observed the Lunar New Year holiday. Meanwhile, the dollar’s resilience dampened demand for safe-haven assets amid escalating tensions in the Middle East.<\/p>\n\n\n\n Current Gold Prices and Market Activity<\/strong><\/p>\n\n\n\n At 0404 GMT, gold in spot transactions held firm at $2,032.76 per ounce. Since the start of the week, the precious metal has experienced a marginal 0.3 percent decline.<\/p>\n\n\n\n US gold futures settled at $2,047.70 per ounce.<\/p>\n\n\n\n Impact of Chinese Holiday Closure<\/strong><\/p>\n\n\n\n The Shanghai Futures Exchange will be closed from February 9 to 16 for the Lunar New Year holiday, leading to reduced market activity and liquidity.<\/p>\n\n\n\n Geopolitical Concerns in the Middle East<\/strong><\/p>\n\n\n\n Market sentiment was overshadowed by escalating tensions in the Middle East. Israeli forces launched airstrikes in the southern border city of Rafah after rejecting a truce proposal from Hamas, intensifying fears of regional instability.<\/p>\n\n\n\n Dollar Index and Treasury Yields<\/strong><\/p>\n\n\n\n The dollar index and ten-year Treasury bond yields are on track for a weekly increase, exerting pressure on gold prices.<\/p>\n\n\n\n Palladium and Platinum Performance<\/strong><\/p>\n\n\n\n Palladium prices briefly dipped below platinum in spot transactions on Thursday for the first time since April 2018. However, palladium later rebounded by 0.6 percent to $892.26 per ounce, while platinum edged up to $890.09.<\/p>\n\n\n\n Silver Prices<\/strong><\/p>\n\n\n\n Silver prices rose marginally by 0.2 percent to $22.63 per ounce in spot transactions.<\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" Chinese Markets Closed, Dollar Strength Curbs Safe-Haven Demand Gold prices remained steady in subdued trading as Chinese markets observed the Lunar New Year holiday. Meanwhile, the dollar’s resilience dampened demand for safe-haven assets amid escalating tensions in the Middle East. Current Gold Prices and Market Activity At 0404 GMT, gold in spot transactions held firm …<\/p>\n","protected":false},"author":9,"featured_media":94938,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,37,36],"tags":[6885,7603,7164,7740],"class_list":["post-96741","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-forex-markets","category-market-updates","tag-fed","tag-gold-prices","tag-powell","tag-rate-cut"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/96741","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=96741"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/96741\/revisions"}],"predecessor-version":[{"id":96742,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/96741\/revisions\/96742"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/94938"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=96741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=96741"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=96741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}