January 10, 2025 8:41 am
Spot Gold scaled a fresh 1-month peak of $2,680.42 per troy ounce on Friday, as investors awaited the key US Non-Farm Payrolls report later in the day for more insight into macroeconomic conditions and the Fed’s future interest rate path. Employers in all sectors of the US economy, excluding farming, probably added 160,000 job positions […]
Read moreJanuary 6, 2025 9:28 am
Spot Gold edged lower on Monday due to likely profit-taking after last week’s 0.67% surge, as market focus sets on a slew of key US macro data releases for more guidance on the Federal Reserve’s interest rate trajectory. The ADP employment growth, job openings and the Non-Farm Payrolls reports this week may offer more insight […]
Read moreJanuary 3, 2025 10:34 am
Key Takeaways: European natural gas futures have surged to their highest level since October 2023, with prices climbing over 4% to €51 per megawatt-hour, after Russian gas flows to Europe via Ukraine stopped. The halt of Russian gas flows has exacerbated concerns about faster storage withdrawals, with European gas inventories already depleted at the fastest […]
Read moreDecember 19, 2024 9:32 am
Spot Gold recouped a part of the loss from the prior trading day on Thursday, with a likely technical correction being underway. The 4-hour RSI indicated oversold conditions for the precious metal in late Wednesday trade. The yellow metal lost over 2% yesterday, plunging as low as $2,583.91 per troy ounce, after the Federal Reserve […]
Read moreDecember 18, 2024 8:21 am
Spot Gold was holding within a tight trading range on Wednesday ahead of the outcome of the Federal Reserve’s two-day policy meeting. The Fed is widely expected to cut its federal funds rate target range by 25 basis points to 4.25%-4.50% later today. Fed Chair Jerome Powell said last month that strong US economic growth […]
Read moreDecember 12, 2024 8:02 am
Spot Gold was holding recent gains on Thursday, while trading in proximity to a fresh five-week high, after the latest US inflation data reinforced the case for a December rate cut by the Federal Reserve. Data showed yesterday that US annual CPI inflation had accelerated to 2.7% in November from 2.6% in October, in line […]
Read moreDecember 4, 2024 7:46 am
Spot Gold was mostly steady on Wednesday, while holding in proximity to the $2,650 mark, as investors awaited a speech by Fed Chair Jerome Powell later in the day, which may provide more clues regarding the central bank’s policy path next year. Another highlight this week will be the key US Non-Farm Payrolls report that […]
Read moreNovember 30, 2024 1:35 pm
Yesterday’s silver trading saw a notable bounce, with prices rising above the key level of 29.95. According to technical indicators, long positions above this level have targets at 30.53 and 30.70 in extension. The Relative Strength Index (RSI) also suggests that a bounce is due, indicating that the recent downtrend may be reversing. The pivot […]
Read moreNovember 23, 2024 9:47 am
Gold prices surged 5.97% last week, closing at $2,716.34, marking the strongest weekly performance since March 2023. The rally was driven by a surge in safe-haven demand, geopolitical tensions, and shifts in Federal Reserve rate expectations. The escalation of the Russia-Ukraine conflict was a key factor, with missile strikes and concerns of potential nuclear escalation […]
Read moreNovember 21, 2024 1:25 pm
The gold market has been on a tear, with prices rising for the fourth consecutive day to reach a 10-day high of $2,670 per ounce. The surge in gold prices comes as tensions between Russia and Ukraine continue to escalate, sparking fears of a new phase in the conflict that may not be contained. The […]
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