Precious Metals

Gold prices steady as US inflation data dampens hopes for a larger Fed rate cut. Explore the implications for gold traders and upcoming economic indicators.

Gold prices eased as profit-taking takes place but worries about recession and rising expectations of US interest rate cuts limited its downside.

Gold prices fell nearly 1% on Thursday as investors took profits ahead of key U.S. economic data. Spot gold dropped 0.9% to $2,377.29 per ounce by 0217 GMT, while U.S. gold futures declined 1.6% to $2,376.70.

Gold prices firmed on Monday as the dollar eased following U.S. President Joe Biden’s decision to withdraw from the 2024 presidential race. Investors turned to bullion as a hedge against an uncertain political and market outlook.

Silver prices rose slightly above $31 per ounce, maintaining sideways as the markets anticipate key US inflation data. Learn how a supply deficit in 2024 will hit the momentum.

Key points: Gold is on track for its fourth consecutive monthly gain, showing resilience in the face of fluctuating economic indicators. The market anticipates the April personal consumption expenditures price index, a critical measure for future Federal Reserve policies. Gold …

Key points Analyst prediction: Gold may drift back to $2,355 if the dollar maintains upward momentum. Fed minutes: Indicated discussions of possible further interest rate hikes. ANZ outlook: Rising prices could temper discretionary gold buying. Gold prices fell for a …

Key points Copper prices hit their highest level since April 2022, reflecting increased investments in base metals. Weak demand persists in China due to high prices impacting consumer sectors, notably in wire rod manufacturing. Copper prices reached their highest point …

Key points: Gold prices increased this week, influenced by expectations of a Federal Reserve rate cut later this year. Recent U.S. labor market data suggests a cooling economy, further fueling rate cut speculations. 10th May 2024 – On Friday, spot …

Key points: Gold prices see a modest increase as traders anticipate a Federal Reserve rate cut. Geopolitical tensions and economic indicators remain key drivers for market movements. Gold prices rose for the second consecutive session on Tuesday. This increase comes …