November 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 […]
Read moreNovember 8, 2024 8:37 am
Spot Gold retreated on Friday, slipping below the $2,700 mark, and looked set for a 1.70% weekly loss due to a stronger US Dollar and a rise in Treasury yields after Donald Trump’s victory in the 2024 presidential election. “The gold market was waiting for a trigger to prompt some liquidation. There is some kind […]
Read moreOctober 29, 2024 8:14 am
Spot Gold edged higher on Tuesday, while revisiting the record high area just above the $2,750 mark, as market focus again sets on a vast US data string this week, including job openings, employment growth, advance Q3 GDP estimate and PCE inflation. The uncertainty surrounding next week’s US presidential election also lent support to the […]
Read moreOctober 21, 2024 7:12 am
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 moreOctober 11, 2024 7:17 am
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 moreOctober 4, 2024 7:11 am
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 moreSeptember 27, 2024 7:35 am
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 moreSeptember 19, 2024 8:10 am
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 moreSeptember 16, 2024 7:52 am
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 moreSeptember 10, 2024 8:14 am
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% […]
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