Gold prices fell on Friday, but eked out a weekly rise as the Federal Reserve shifted to a dovish stance and projected lower interest rates next year. Spot gold fell 0.8% to $2,019.91 per ounce by 3:33 p.m. ET (2033 GMT) but gained 0.8% for the week. U.S. gold futures settled 0.4% lower at $2,035.70.
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Euro is emerging as the strongest currency for the week, bolstered by ECB’s resistance to the expectations of a rate cut. The common currency will now look into today’s Eurozone data. Positive surprises from there could solidify ECB’s stance, and give Euro more fuel to extend recent rise. For now, Japanese Yen followed as the
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Oil prices rose in early Asian trade on Friday, on track to notch their first weekly rise in two months after benefiting from a bullish forecast from the International Energy Agency (IEA) on oil demand for next year and a weaker dollar. Brent futures rose 9 cents to USD 76.70 a barrel at 0006 GMT.
Dollar is having a notable rebound in early US trading session, buoyed by comments from New York Fed President John Williams. Speaking on CNBC’s “Squawk Box,” Williams stated, “we aren’t really talking about rate cuts right now,” adding that it is “premature” to consider rate cuts as early as March. This assertion by a key
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices are set to end with weekly gains buoyed by a weaker greenback and lower bond yields following the US Fed’s dovish commentary which has triggered a nosedive in the dollar index (DXY). Taking cues from the price of yellow metal in the international market, MCX February gold futures were trading at Rs 62,490
Investor sentiment was buoyed strongly by Fed’s projection of three rate cuts in the upcoming year. This significant dovish turn by the Fed has sparked a wave of investor optimism, propelling the DOW to record-breaking high. This buoyant mood has largely permeated the Asian markets, although Japan has remained an outlier in this trend. Dollar
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices inched down on Friday but stayed on track for a weekly gain, as prospects of the U.S. Federal Reserve lowering borrowing costs dented the dollar and Treasury yields, boosting demand for the safe-haven asset. FUNDAMENTALS * Spot gold was down 0.1% at $2,033.29 per ounce, as of 0113 GMT. However, bullion has risen
Sterling and Euro jumped sharply following the decisions by BoE and ECB to leave interest rates unchanged, in line with market expectations. Notably, both central banks diverged from Fed’s recent dovish turn, with explicit statements pushing back on the speculation of rate cuts. Bank of England Governor Andrew Bailey, speaking after the rate announcement, emphasized
US retail sales control group Retail sales surprised to the upside in November but CIBC warns that there are signs of deceleration that should mount in the months ahead. The CIBC report on US November advance retail sales highlights a modest increase, signaling a positive start to the holiday shopping season. Retail sales rose by
Gold futures surged on Thursday amid a slip in the dollar index (DXY) and bond yields following a dovish commentary by US Federal Reserve Chair Jerome Powell. Taking cues from the price of yellow metal in the international market, MCX February gold futures were trading at Rs 62,380 around 9:15 am, up Rs 1,182 or
As the markets eagerly await FOMC rate decision and the release of new economic projections, Dollar is currently holding steady within a narrow range. The spotlight is particularly on the revised dot plot, as it is expected to provide crucial insights into the pace of monetary policy easing by Fed in the coming year. Investors
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices extended gains to a one-week high on Thursday after the U.S. Federal Reserve flagged an end to its tightening cycle and signalled lower borrowing costs in 2024, sending the dollar and Treasury yields tumbling. Spot gold was up 0.2% at $2,031.28 per ounce, as of 0130 GMT, after rising 2.4% on Wednesday. U.S.
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices were little changed in early Asian hours on Wednesday as investors strapped in for the U.S. Federal Reserve’s interest rate decision and policy outlook later in the day. FUNDAMENTALS * Spot gold was flat at $1,980.58 per ounce, as of 0059 GMT. U.S. gold futures edged 0.1% higher to $1,995.80. * The Fed’s