News

Gold rises as soft US economic data spurs Fed rate cut bets Gold prices rose on Monday as weaker-than-expected U.S. economic data cemented expectations that the Federal Reserve would cut interest rates later this year, sending the dollar and bond yields lower. Spot gold was up 0.9% at $2,347.12 per ounce as of 2:38 p.m. ET (1838 GMT), after posting a 2% gain last month. Prices hit an all-time high of $2,449.89 on May 20. U.S. gold futures settled 1% higher at $2,369.3 per ounce. "We've had a bit of a pullback, we'd prefer to call...
Gold rises as soft US economic data spurs Fed rate cut bets
Gold rises as soft US economic data spurs Fed rate cut bets
Source: Reuters
2024-06-04 09:12:34 am
Oil falls as Fed policymakers look to maintain rate cuts, gasoline stocks rise Oil prices fell early on Friday as investors responded to comments from U.S. Fed officials who said it was too soon to start considering rate cuts, and following a surprise build in U.S. gasoline stocks that weighed on the market. Brent futures lost 12 cents, or 0.15%, to trade at $81.74 a barrel by 0008 GMT, while U.S. West Texas Intermediate (WTI) crude was down 17 cents, or 0.22%, at $77.74. Dallas Federal Reserve President Lorie Logan said she is still worried about upside risks to ...
Oil falls as Fed policymakers look to maintain rate cuts, gasoline stocks rise
Oil falls as Fed policymakers look to maintain rate cuts, gasoline stocks rise
Source: Reuters
2024-05-31 09:11:29 am
Gold prices steady as focus turns to US inflation data Gold prices held steady on Tuesday as the dollar eased, while investors looked forward to key U.S. inflation data that could offer clues on how soon the Federal Reserve can cut interest rates. Spot gold held its ground at $2,349.89 per ounce, as of 0600 GMT, after rising about 1% in the previous session. U.S. gold futures were up 0.7% at $2,350.70. "A very strong dollar picture supported by a change in the U.S. monetary policy stance where the Fed starts looking for evidence to ...
Gold prices steady as focus turns to US inflation data
Gold prices steady as focus turns to US inflation data
Source: Reuters
2024-05-28 11:50:08 am
Gold eyes biggest weekly drop in nearly eight months Gold prices hit a two-week low on Friday, set for their biggest weekly loss in nearly eight months, as interest rate cut expectations started to dwindle after a hawkish tone in the U.S. Federal Reserve minutes. Spot gold listless at $2,330.19 per ounce, as of 0341 GMT, after hitting its lowest since May 9 earlier. Bullion hit a record high of $2,449.89 on Monday, but has fallen about 5% since then. U.S. gold futures eased 0.3% at $2,330.80. "The hawkish tone in minutes from May&...
Gold eyes biggest weekly drop in nearly eight months
Gold eyes biggest weekly drop in nearly eight months
Source: Reuters
2024-05-24 09:49:18 am
Asian stocks fall, dollar rises as rate cut wagers waver Asian stocks fell on Friday, while the dollar advanced as strong U.S. economic data bolstered the prospect of interest rates staying higher for longer and the Federal Reserve taking its time in cutting rates, keeping investors away from risky assets. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.5% and was on course for a 1% weekly decline, snapping its four-week winning streak. Japan's Nikkei fell 1.45%. China stocks were little changed in early trading, wit...
Asian stocks fall, dollar rises as rate cut wagers waver
Asian stocks fall, dollar rises as rate cut wagers waver
Source: Reuters
2024-05-24 08:53:05 am
Gold prices drift lower on hawkish Fed minutes Gold prices fell for a third straight session on Thursday after minutes from the most recent Federal Reserve meeting indicated that some officials were inclined to raise interest rates. Spot gold fell 0.3% at $2,370.74 per ounce, as of 0335 GMT, after falling more than 1% in the previous session. Bullion hit a record high of $2,449.89 on Monday. U.S. gold futures were down 0.8% at $2,373.00. While the policy response for now would "involve maintaining" the U.S. central bank...
Gold prices drift lower on hawkish Fed minutes
Gold prices drift lower on hawkish Fed minutes
Source: Reuters
2024-05-23 09:32:13 am
Oil extends decline on signs of weak fuel demand, strong dollar Oil prices extended declines on Monday amid signs of weak fuel demand and as comments from U.S. Federal Reserve officials dampened hopes of interest rate cuts, which could slow growth and crimp fuel demand in the world's biggest economy. Brent crude futures slid 26 cents, or 0.3%, to $82.53 a barrel by 0025 GMT while U.S. West Texas Intermediate crude futures was at $78.03 a barrel, down 23 cents, or 0.3%. Both benchmarks settled about $1 lower on Friday as Fed officials debated whe...
Oil extends decline on signs of weak fuel demand, strong dollar
Oil extends decline on signs of weak fuel demand, strong dollar
Source: Reuters
2024-05-13 09:17:19 am
Oil rises on U.S. crude storage draw, Fed rate cut hopes Oil prices rose in early trade on Thursday as shrinking U.S. crude inventories signalled tighter supply, and amid rising hopes that the Federal Reserve would cut interest rates by the end of the year. Brent crude futures for July rose 23 cents to $83.81 a barrel by 0033 GMT. U.S. West Texas Intermediate crude for June was up 29 cents to $79.28 per barrel. Crude inventories dropped last week by 1.4 million barrels to 459.5 million barrels, according to the Energy Information Administrati...
Oil rises on U.S. crude storage draw, Fed rate cut hopes
Oil rises on U.S. crude storage draw, Fed rate cut hopes
Source: Reuters
2024-05-09 09:43:09 am
Gold slips as dollar firms, traders brood on rate cut timing Gold prices dipped on Wednesday as the dollar edged up, while market participants assessed the timeline for potential U.S. interest rate cuts and were on the lookout for fresh cues for further clarity on monetary policy. Spot gold was down 0.1% at $2,311.07 per ounce as of 0235 GMT. U.S. gold futures fell 0.3% to $2,316.60. The dollar index rose 0.1%, making greenback-priced gold more expensive for other currency holders. [USD/] This week's economic calendar includes the Universi...
Gold slips as dollar firms, traders brood on rate cut timing
Gold slips as dollar firms, traders brood on rate cut timing
Source: Reuters
2024-05-08 09:03:37 am
Yen worries increase as dollar strengthens after Fed The dollar hit fresh peaks on Thursday, sitting around its highest against the yen since November after a hawkish pause by the U.S. Federal Reserve.Sterling, meanwhile, sank to fresh multi-month lows in the wake of an inflation report that surprised to the downside on Wednesday, as questions ramp up about whether the Bank of England may follow its U.S. peer in holding rates on Thursday.The Fed met market expectations at its monetary policy meeting on Wednesday, holding interest rates steady a...
Yen worries increase as dollar strengthens after Fed
Yen worries increase as dollar strengthens after Fed
Source: Reuters
2023-09-21 09:01:49am