US EditionGold climbs on US rate-cut bets; silver hits 14-year high
Traders anticipate a 25 basis points rate cut by the U.S. Federal Reserve, with an 87% probability, boosting gold and silver demand amid steady inflation and consumer spending.
- Growing Fed rate-cut bets drove gold to a more-than-four-month high on Monday, while silver rose above $40.56, its highest since September 2011.
- A weaker U.S. dollar helped bullion demand as it traded near its lowest since July 28, while SPDR Gold Trust holdings rose 1.01% to 977.68 tons on Friday, supported by official buying.
- U.S. gold futures climbed 1.1% to $3,554.60, spot gold rose 1.2% to $3,486.86, while platinum and palladium gained 1.5% and 0.8%.
- Attention turns to Friday's U.S. non-farm payrolls, which could influence the Fed's rate cut, while Asian shares fell after a court ruling unsettled tariff policy and U.S. Trade Representative Jamieson Greer confirmed ongoing talks.
- Analysts note that central banks' direct gold holdings now exceed U.S. Treasuries, supporting gold's 21.55% six-month and 39.15% one-year gains amid official-sector buying.
26 Articles
26 Articles
Silver price surges above $40 for first time in 14 years; miners rally (SLV:NYSEARCA)
US silver futures popped above $40/oz, surging alongside gold's rise, aided by expectations that the Federal Reserve is poised to resume interest rate cuts and risks over Fed independence.
Gold and silver surge on rising demand and looming Fed rate cut
Gold held just below a record high and silver traded above US$40 an ounce, as the prospect of Federal Reserve rate cuts and growing concerns over the central bank’s future gave fresh legs to the multi-year rally in precious metals. Spot silver steadied after surging as much as 2.7 per cent on Monday to breach US$40 an ounce for the first time since 2011, while gold held a 0.8 per cent gain to trade just below its April record above US$3,500 an o…
Gold Holds Close to Record as Demand for Precious Metals Surges
Gold held just below a record high and silver traded above $40 an ounce, as the prospect of Federal Reserve rate cuts and growing concerns over the central bank’s future gave fresh legs to the multi-year rally in precious metals.
The price of silver has exceeded US$40 per ounce this Monday for the first time in fourteen years, while gold is over the historic highs of April, when the ounce reached US$3,500.10, in view of the expectations of cutting interest rates in the United States. In the morning, the price of silver was quoted at US$40,759 per ounce, which represents a new peak since September 2011, when it closed at US$40.70. At the close of the European markets its …
Futures Flat As Silver Soars To 11 Year High
Futures Flat As Silver Soars To 11 Year High US equity futures are flat, with cash markets of course closed for Labor Day holiday, stabilizing after Friday's selloff in tech stocks amid renewed Nvidia jitters, and setting a steadier tone at the start of a month that could bring plenty of tests to markets trading near record highs. S&P futures were unchanged with Nasdaq futures rising 0.1% to start a traditionally brutal month for markets. The s…
Gold Prices Hit Four-Month High As Mohamed El Erian Flags Increase In Central Banks Holdings To A 30-Year High Vs US Treasuries - GraniteShares Gold Trust Shares of Beneficial Interest (ARCA:BAR), Goldman Sachs Physical Gold ETF Shares (BATS:AAAU)
Gold hits a 4-month high on Fed hopes as central banks' gold holdings surpass US Treasuries for the first time in nearly 30 years.
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