Category: Uncategorized
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Gold takes a hit as robust US PMIs hurt rate cut hopes
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Gold prices reversed course on Friday, moving down more than 1.70%. Economic data from the United States (US) spurred investors’ reaction to pricing out fewer interest rate cuts by the Federal Reserve (Fed) due to the solid state of the economy. The XAU/USD trades at $2,317, below its opening price after…
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Gold price remains capped as yields gain ground on Fed’s hawkish narrative
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NEWS | 06/19/2024 07:37:28 GMT | By Haresh Menghani Gold price (XAU/USD) struggles to capitalize on the previous day’s bounce from the vicinity of the $2,300 mark and oscillates in a narrow band during the European session on Wednesday. The precious metal remains capped in a familiar trading range held over the past one-and-half-week or…
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Gold price skyrockets on weak US Retail Sales and lower US yields
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NEWS | 06/18/2024 22:03:55 GMT | By Christian Borjon Valencia Gold prices rose on Tuesday after economic data from the United States (US) hinted that consumer spending is constraining due to a softer-than-estimated Retail Sales report. This fueled speculation that the Federal Reserve (Fed) could begin its easing cycle this year. The XAU/USD trades at $2,327, up…