Gold dims, falls below $2,650 as US Dollar bounces back – FXStreet
Despite falling US bond yields and rising geopolitical risks, gold prices fell for the second day in a row, falling 0.6%. Fed Chairman Jerome Powell hinted at two more 25bps interest rate cuts in 2024, leading to a rally in the US dollar index and weakening gold. Despite the recent decline, gold continued to rise […]
Gold Price Forecast: XAU/USD edges higher above $2,650 as traders brace for Chinese PMI data – FXStreet
Gold prices rose to $2,665 in early Asian session on Monday. Rising geopolitical tensions in the Middle East and Fed rate cuts are supporting gold prices. Investors are awaiting China's PMI to be released on Monday. Gold prices (XAU/USD) recovered to near $2,665 in early Asian trading on Monday. Precious metals have been buoyed by […]
Status of the US Dollar as Global Reserve Currency: Share Drops to Lowest since 1995. Central Banks Diversify to “Nontraditional” Currencies and Gold – WOLF STREET
However, China's yuan continues to decline. Written by Wolf Richter of Wolf Street. The US dollar, which remains the number one reserve currency held by central banks, continues to slowly lose share to other key currency combinations as central banks diversify their dollar-denominated asset holdings to other currency-denominated assets. There is. And they are also […]
Gold News: Can XAU/USD Rally Continue Despite Rising Profit-Taking Risks? – FX Empire
Economic data released throughout this week further supported the case for continued rate cuts. The personal consumption expenditure (PCE) price index, a key indicator of inflation, rose 0.1% month-on-month in August and 2.2% year-on-year, slightly below economists' expectations of 2.3%. The core PCE index, which excludes food and energy, was also in line with expectations, […]
Billie Jean King makes history as the first individual female athlete to be awarded Congressional Gold Medal
Billie Jean King continues to make history. The 80-year-old becomes the first individual female athlete to win the Congressional Gold Medal. Dr. King had previously been awarded the Presidential Medal of Freedom by former President Barack Obama in 2009 for his advocacy work on behalf of women and the LGBTQ community. CLICK HERE FOR MORE […]
Stocks, gold and another winning week on Wall Street
Dominari Financial CEO Kyle Uhl analyzes the latest inflation data as the 2024 presidential election heats up Varney & Co. Stocks continue to rise, hitting new records this week thanks to another impressive inflation report. Not to be outdone, gold has also been on a rise of its own, hovering at all-time highs. An impending […]
Gold price hits a three-day low, retreating post US PCE data – FXStreet
XAU/USD fell to $2,646 after September inflation data suggested progress towards the Fed's 2% target. The US 10-year Treasury yield fell 5 basis points, and the US dollar index fell 0.16% to 100.41. Israel's attack on Lebanon raises geopolitical risks, but gold fails to gain momentum as traders cash in their profits. Gold falls to […]
Gold (XAU) Daily Forecast: US PCE Data Looms, XAU Steady Near Key $2,665 Support Level – FX Empire
Geopolitical tensions in the Middle East continue to support demand for safe-haven assets such as gold, but rising risk appetite and a strong dollar are limiting upside. However, expectations that the Fed will cut rates significantly in November are providing fundamental support for gold. Impact of US economic development and Fed expectations on gold prices […]
Gold price consolidates below record high as traders await US PCE Price Index – FXStreet
Gold prices hit new highs on Thursday on the back of dovish expectations from the Federal Reserve. Amid a risk-on mood and overbought conditions, modest gains in the US dollar are capping gains. Traders are now looking forward to the US PCE price index before betting on the direction. Gold prices (XAU/USD) fell during Asian […]
Archaeologist earns big at auction with sale of ancient gold and silver Roman coins
Discovering ancient treasure can mean a lot of money for the lucky finder. According to a press release from Noonan's Mayfair, the London auction house which handled the coins' sale, 34-year-old archaeologist George Ridgway discovered the collection of more than 680 gold and silver coins with a metal detector in September 2019. The coins were […]