Dollar Holds Losses as Markets Await Fed Minutes, Speakers
Traders are watching for clues on whether softer inflation and jobs data will keep the Fed from raising rates again this year.
- Global markets remain on edge as rising bond yields continue to pressure asset prices worldwide, driven by expectations of central bank policy tightening and government finance concerns.
- French presidential candidate Marine Le Pen proposed raising spending cuts to €140 billion from the initial €125 billion target, as France's fiscal strains weigh on the euro.
- Recovering from a two-month low, spot gold rebounded about 1% to roughly US$4,130 on Thursday, as the U.S. dollar eased from an 18-month peak.
- Investors await Federal Reserve minutes from the September 15-16 meeting, with markets pricing in an 84.5% chance of a rate hike in December while seeing only an 18% probability for October.
- Amid Middle East tensions, U.S. Vice President JD Vance told Reuters that Iran must make a 'meaningful' reduction in nuclear enrichment capacity to end the seven-month war, as energy markets face volatility.
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The pause in the dollar's rise and US President Donald Trump's statement that he will halt attacks on Iran until the midterm elections in November pushed gold prices higher.
Gold is getting more expensive amid a weakening dollar and lower oil prices
Gold is getting more expensive amid a weakening dollar and lower oil prices. At the maximum, the price of the December futures on the Comex exchange reached $4,232.9 per ounce.As of 13:44 Moscow time, the contract was trading at $4,305.87 per ounce...
Business Recorder
The Hindu Business LineGold prices recover from two-month low as dollar rally stalls
Gold prices edged higher on Thursday as the dollar eased from an 18-month peak, helping bullion recover from a two-month low, while traders weighed the prospect of another US Federal Reserve rate hike this year. Spot gold was up 0.5% at $4,132.66 per ounce by 0140 GMT. On Wednesday, bullion prices touched their lowest level since August 5 as a firmer dollar and higher US Treasury yields weighed on the market. US gold futures for December del…
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