Gold price might reach for record highs with Fed rate cuts now in sight and as uncertainty over the U.S. elections increase safe-haven flows toward bullion, according to Phillip Nova analyst Priyanka Sachdeva in a research note. The precious metal has had three straight weekly gains and is on track for its sixth consecutive month…
Gold prices fell slightly in Asian trade on Friday, but were sitting on strong gains from the prior session as softer-than-expected U.S. inflation data ramped up bets on a September interest rate cut. The yellow metal blew past the closely-watched $2,400 an ounce level on Thursday and was less than $50 away from a record…
Gold held a two-day advance, with traders pricing in higher odds of an initial interest-rate cut from the Federal Reserve in September after Chair Jerome Powell told Congress he believes inflation is receding. The precious metal traded above $2,370 after a 0.3% gain the previous session as Powell wrapped up a second day of testimony in Washington, where…
Gold steadied after dropping by the most in two weeks on Monday ahead of the Federal Reserve chief’s address to the Congress and US inflation data later this week, with both events likely to offer clues on the interest-rate path. Bullion traded at around $2,362 an ounce following a 1.4% decline in the previous session before…
Gold prices were stuck in a tight range on Tuesday as investor focus turned to U.S. inflation data due later this week, which could shed more light on the timing of the Federal Reserve’s first interest rate cut this year. Spot gold was little changed at $2,172.58 per ounce, as of 0549 GMT. U.S. gold…
Gold was steady following its biggest weekly gain in two months as the market waited for more clarity on when the Federal Reserve would start cutting interest rates. Bullion has largely held its ground this year despite investors pushing back expectations for how soon the Fed would start easing. Swaps markets suggest investors don’t see much chance…
