Latest news with #Bullion
Bloomberg
28-05-2025
- Business
- Bloomberg
Gold Edges Higher After Loss With US Data, Trade Talks in Focus
Gold edged higher after a two-day decline, as the market remained in wait-and-see mode in spite of data showing improving economic sentiment and signs of progress in trade talks. Bullion traded near $3,309 an ounce — following a 1.3% loss on Tuesday — as US consumer confidence rebounded sharply in May from near a five-year low, signaling a more positive outlook for the economy and labor market. The dollar rose after the print, making gold more expensive for most buyers.
Bloomberg
22-05-2025
- Business
- Bloomberg
Gold Gains as Weak Bond Auction Highlights US Fiscal Concerns
Gold strengthened for a fourth day, as investors pushed back against US President Donald Trump's tax-cut plan and growing fiscal deficit by driving long-range US Treasury yields to near a two-decade high. Bullion edged higher in early Asian trading to about $3,325 an ounce. Haven appetite has been bolstered amid the risk-off mood for stocks, which has also sparked declines in the US dollar.
Yahoo
19-05-2025
- Business
- Yahoo
Gold Gets Bounce From Moody's US Downgrade After Big Weekly Drop
(Bloomberg) -- Gold bounced back after its biggest weekly decline in six months, with appetite for haven assets boosted by mounting concerns about the US economic outlook and budget deficit. How a Highway Became San Francisco's Newest Park America, 'Nation of Porches' Power-Hungry Data Centers Are Warming Homes in the Nordics Maryland's Credit Rating Gets Downgraded as Governor Blames Trump NJ Transit Train Engineers Strike, Disrupting Travel to NYC Bullion rose as much as 1.3% to around $3,245 an ounce in early Asian trading. That was after Moody's Ratings announced late Friday it was downgrading the US government's top credit rating of Aaa to Aa1. The agency blamed successive administrations' inability to cut the budget deficit. 'While we recognize the US' significant economic and financial strengths, we believe these no longer fully counterbalance the decline in fiscal metrics,' Moody's said in a statement. The precious metal has been volatile in recent months. It suffered the biggest weekly loss since November last week on easing geopolitical tensions, after a blistering rally that saw it climb above $3,500 an ounce for the first time last month. Gold is still up by more than one fifth this year, driven by geopolitical and economic uncertainties, trade tensions and inflows to exchange-traded funds. Gold traded 1.2% higher at $3,231.13 an ounce as of 7:43 a.m. in Singapore. The Bloomberg Dollar Spot Index dipped 0.2%. Silver, palladium and platinum all rose. Why Apple Still Hasn't Cracked AI Microsoft's CEO on How AI Will Remake Every Company, Including His Cartoon Network's Last Gasp DeepSeek's 'Tech Madman' Founder Is Threatening US Dominance in AI Race As Nuclear Power Makes a Comeback, South Korea Emerges a Winner ©2025 Bloomberg L.P.
Bloomberg
19-05-2025
- Business
- Bloomberg
Gold Gets Bounce From Moody's US Downgrade After Big Weekly Drop
Gold bounced back after its biggest weekly decline in six months, with appetite for haven assets boosted by mounting concerns about the US economic outlook and budget deficit. Bullion rose as much as 1.3% to around $3,245 an ounce in early Asian trading. That was after Moody's Ratings announced late Friday it was downgrading the US government's top credit rating of Aaa to Aa1. The agency blamed successive administrations' inability to cut the budget deficit.
Bloomberg
14-05-2025
- Business
- Bloomberg
Gold Holds Gain as Soft US Data Reinforces Fed Rate-Cut Bets
Gold held a small gain after US inflation data came in weaker-than-expected, spurring traders to shore up bets on interest rate cuts by the Federal Reserve. Bullion traded near $3,255 an ounce, after advancing 0.4% in the previous session following a report that showed the consumer price index softened in April. The print suggested there's been little urgency by companies to pass along the cost of higher tariffs to consumers, following several crippling trade measures from President Donald Trump.
