Commodities News

Spot Gold scales fresh record high as global uncertainties persist

Spot Gold registered a fresh all-time high of $2,732.88 per troy ounce on Monday amid heightened Middle East tensions, uncertainty regarding the US presidential election as well as lower interest rates by central banks. Tensions rose after Hezbollah announced last Friday that it was entering a more intense phase in its conflict with Israel. Meanwhile, […] Read more

Spot Gold extends gains as data cements Fed cut expectations

Spot Gold extended the gains from the prior trading session on Friday, after fresh macro data cemented expectations of a Federal Reserve rate cut in November. Yesterday an official report showed that annual headline inflation in the US had eased for a sixth straight month, to 2.4% in September. It has been the lowest inflation […] Read more

Gold trades near record levels on rising geopolitical risks

Spot Gold traded in proximity to an all-time high of $2,685.64 per troy ounce on Friday, as it drew support from its safe-haven status amid heightened Middle East tensions. Yesterday US President Joe Biden abstained from directly condemning the potential for Israel to target Iran, while Tel Aviv had pledged to retaliate against the Islamic […] Read more

Spot Gold trades near record high with US PCE data in focus

Spot Gold traded not far from a fresh all-time high of $2,685.64 per troy ounce on Friday, as market players awaited the key US PCE inflation figures for more guidance on the Federal Reserve’s interest rate trajectory. Annual core PCE inflation probably remained steady at 2.6% in August, according to market consensus, while annual PCE […] Read more

Spot Silver scales 2-month peak as Fed delivers 50bps cut

Spot Silver traded near a fresh two-month high of $31.24 per troy ounce on Thursday, while the US Dollar retreated, after the Federal Reserve began its monetary easing cycle with an out-sized rate cut, the first reduction in borrowing costs since March 2020. The Fed reduced the target range for the federal funds rate by […] Read more

Spot Gold scales record high on rising bets of 50bps Fed cut

Spot Gold extended gains, while recording a fresh all-time high of $2,589.71 per troy ounce on Monday, as investors largely expected a super-sized interest rate cut by the Federal Reserve this week. The US Dollar along with US Treasury yields extended their decline. Markets are now pricing in about a 59% chance of a 50 […] Read more

Spot Gold trades near $2,500 with focus on US CPI report

Spot Gold was little changed just above the $2,500 per troy ounce mark on Tuesday ahead of the essential US CPI inflation data that could provide further clues over the size of the potential interest rate cut by the Federal Reserve this month. Annual headline consumer inflation in the United States probably eased to 2.6% […] Read more

Spot Gold off record highs on smaller Sep rate cut bets

Spot Gold pulled back from levels close to record high on Monday due to a firmer US Dollar and higher Treasury yields, as market players trimmed bets on aggressive monetary easing by the Federal Reserve. Since the closely watched US PCE inflation has held stable in July, this reduced the need for a substantial Fed […] Read more

Spot Gold trades near record high on Sep rate cut bets

Spot Gold held in proximity to record highs on Monday, while the US Dollar plummeted to a fresh 13-month low, after Federal Reserve Chair Jerome Powell cemented market expectations of a rate cut in September. In a speech at the Jackson Hole symposium last week, the Fed Chair signaled the central bank was ready to […] Read more

Spot Silver retreats as Dollar firms ahead of Powell speech

Spot Silver edged down on Thursday, while the US Dollar rebounded from a nearly 8-month low ahead of a speech by Federal Reserve Chair Jerome Powell at the Jackson Hole economic symposium that may provide more insight into potential interest rate cuts. Meanwhile, the minutes of the Federal Reserve’s July meeting signaled that monetary easing […] Read more