Latest news with #CarstenMenke
Asharq Al-Awsat
3 days ago
- Business
- Asharq Al-Awsat
Gold Falls, US Dollar Strengthens Ahead of Key US Inflation Data
Gold prices fell on Friday as the US dollar ticked higher and investors remained cautious ahead of key US inflation data due later in the day to gauge the Federal Reserve's monetary policy trajectory. Spot gold was down 0.7% at $3,292.28 an ounce as of 1145 GMT. Bullion is down 1.9% so far this week. US gold futures fell 0.8% to $3,290.30. The dollar rose 0.3% and was on track for a weekly gain, making gold costlier for foreign buyers. "The US dollar is up slightly, which could be a source of pressure for gold," said Carsten Menke, analyst at Julius Baer. "Barring a major surprise to the PCE data, I would not expect gold to show a meaningful reaction. That said, the market seems to be a bit more nervous as of late, suggesting that volatility should stay high in the short-term," Menke said. The Personal Consumption Expenditures (PCE) index, the Fed's preferred inflation measure, is due at 1230 GMT. The data is likely to show that inflation rose 2.2% in April, according to economists polled by Reuters, compared with a 2.3% increase in March, Reuters reported. "With US core PCE looming large, there is some hesitance to take new long positions in gold," said Tim Waterer, chief market analyst at KCM Trade. Investors are currently anticipating 50 basis points worth of Fed rate cuts by the end of this year, starting in October. Bullion, which is considered a hedge against economic and geopolitical uncertainty, tends to thrive in a low interest rate environment. Meanwhile, a federal appeals court temporarily reinstated the most sweeping of President Donald Trump's tariffs on Thursday, a day after a US trade court ruled he had exceeded his authority and ordered an immediate block. Spot silver fell 0.6% to $33.14 an ounce, platinum eased 1.2% to $1,068.80 and palladium dropped 0.6% to $967.70.
Economic Times
3 days ago
- Business
- Economic Times
Why is gold slipping sharply as the dollar surges ahead of the all-important US inflation report — what critical risks and opportunities should investors brace for in 2025?
TIL Creatives Gold prices fall as US dollar strengthens ahead of key US inflation data. Investors watch the PCE index closely for Fed signals. Silver and platinum also dip amid trade tensions. Stay updated on gold market trends and inflation impact today. Gold falls, US dollar strengthens ahead of key US inflation data- Gold prices dropped on Friday as the US dollar climbed, with investors staying cautious ahead of important inflation numbers set to come out later today. The upcoming data is closely watched because it will help signal the Federal Reserve's next moves on interest rates and monetary policy. As of 11:45 GMT, spot gold was down 0.7% at $3,292.28 an ounce, marking a weekly decline of nearly 2%. US gold futures also slipped 0.8%, landing at $3,290.30. Meanwhile, the US dollar index (.DXY) rose by 0.3%, heading for a weekly gain. A stronger dollar often makes gold more expensive for buyers using other currencies, which can weigh on prices. Gold and the US dollar often move in opposite directions. When the dollar gains ground, gold tends to lose some shine. Carsten Menke, an analyst at Julius Baer, explained, 'The US dollar is up slightly, which could be a source of pressure for gold.' This rise in the dollar makes gold pricier for international buyers, reducing demand. Investors are waiting on the Personal Consumption Expenditures (PCE) index, the Federal Reserve's preferred measure of inflation, due at 12:30 GMT. Economists surveyed by Reuters predict the April data will show inflation rising 2.2%, slightly lower than March's 2.3%. According to Menke, 'Barring a major surprise to the PCE data, I would not expect gold to show a meaningful reaction.' However, the market has been jittery lately, so short-term price swings are possible. Tim Waterer, chief market analyst at KCM Trade, noted, 'With US core PCE looming large, there is some hesitance to take new long positions in gold.' Investors are holding back on buying more gold until the inflation figures come out. There's also growing anticipation of interest rate cuts from the Fed later this year, possibly starting in October, with expectations around 50 basis points of cuts. Gold is traditionally seen as a hedge against economic and geopolitical risks, especially when interest rates are low. However, in the current climate, rising US dollar strength and looming inflation data create uncertainty. This mixed environment means gold's role as a safe haven is being prices also slipped 0.6% to $33.14 an ounce, while platinum eased 1.2% to $1,068.80. Palladium followed with a 0.6% drop, trading near $967.70. These metals often react similarly to gold, influenced by broader market shifts and economic related news, a federal appeals court temporarily reinstated the most sweeping of President Donald Trump's tariffs on Thursday. This came a day after a US trade court had blocked those tariffs, saying Trump had overstepped his authority. Trade tensions like these can add another layer of uncertainty for investors considering precious metals. Why is gold falling as the US dollar strengthens?Gold usually falls when the US dollar rises because it becomes more expensive for buyers using other currencies. How will the US inflation data affect gold prices? If inflation data surprises, gold prices might move sharply, but a typical reading usually means little change.
Time of India
3 days ago
- Business
- Time of India
Why is gold slipping sharply as the dollar surges ahead of the all-important US inflation report — what critical risks and opportunities should investors brace for in 2025?
Gold falls as the US dollar strengthens ahead of key US inflation data. Investors are cautious, watching the Personal Consumption Expenditures (PCE) index due today, which could shape the Federal Reserve's next move on interest rates. Gold prices slipped nearly 2% this week, pressured by a stronger dollar that makes gold costlier for buyers. With inflation expected to cool slightly and rate cuts anticipated later this year, market nerves remain high. Other precious metals like silver and platinum also dropped. Trade tensions from recent tariff rulings add to uncertainty, making this a crucial moment for gold investors. Gold prices fall as US dollar strengthens ahead of key US inflation data. Investors watch the PCE index closely for Fed signals. Silver and platinum also dip amid trade tensions. Stay updated on gold market trends and inflation impact today. Tired of too many ads? Remove Ads Gold price today: Where does the yellow metal stand? Why is gold falling as the US dollar strengthens? What is the market expecting from the US inflation data? How are investors positioning themselves before the inflation report? Tired of too many ads? Remove Ads Does gold remain a safe haven in today's market? What other metals are moving alongside gold? Could recent US trade rulings affect precious metals? FAQs: Gold prices dropped on Friday as the US dollar climbed, with investors staying cautious ahead of important inflation numbers set to come out later today. The upcoming data is closely watched because it will help signal the Federal Reserve's next moves on interest rates and monetary of 11:45 GMT, spot gold was down 0.7% at, marking a weekly decline of nearly 2%. US gold futures also slipped 0.8%, landing at. Meanwhile, therose by 0.3%, heading for a weekly gain. A stronger dollar often makes gold more expensive for buyers using other currencies, which can weigh on and the US dollar often move in opposite directions. When the dollar gains ground, gold tends to lose some shine. Carsten Menke, an analyst at Julius Baer, explained, 'The US dollar is up slightly, which could be a source of pressure for gold.' This rise in the dollar makes gold pricier for international buyers, reducing are waiting on the Personal Consumption Expenditures (PCE) index, the Federal Reserve's preferred measure of inflation, due at 12:30 GMT. Economists surveyed by Reuters predict the April data will show inflation rising 2.2%, slightly lower than March's 2.3%. According to Menke, 'Barring a major surprise to the PCE data, I would not expect gold to show a meaningful reaction.' However, the market has been jittery lately, so short-term price swings are Waterer, chief market analyst at KCM Trade, noted, 'With US core PCE looming large, there is some hesitance to take new long positions in gold.' Investors are holding back on buying more gold until the inflation figures come out. There's also growing anticipation of interest rate cuts from the Fed later this year, possibly starting in October, with expectations around 50 basis points of is traditionally seen as a hedge against economic and geopolitical risks, especially when interest rates are low. However, in the current climate, rising US dollar strength and looming inflation data create uncertainty. This mixed environment means gold's role as a safe haven is being prices also slipped 0.6% to $33.14 an ounce, while platinum eased 1.2% to $1,068.80. Palladium followed with a 0.6% drop, trading near $967.70. These metals often react similarly to gold, influenced by broader market shifts and economic related news, a federal appeals court temporarily reinstated the most sweeping of President Donald Trump's tariffs on Thursday. This came a day after a US trade court had blocked those tariffs, saying Trump had overstepped his authority. Trade tensions like these can add another layer of uncertainty for investors considering precious usually falls when the US dollar rises because it becomes more expensive for buyers using other inflation data surprises, gold prices might move sharply, but a typical reading usually means little change.
Al Etihad
3 days ago
- Business
- Al Etihad
Gold falls, US dollar strengthens ahead of key US inflation data
30 May 2025 17:55 (REUTERS) Gold prices fell on Friday as the US dollar ticked higher and investors remained cautious ahead of key US inflation data due later in the day to gauge the Federal Reserve's monetary policy gold was down 0.7% at $3,292.28 an ounce as of 1145 GMT. Bullion is down 1.9% so far this dollar (.DXY) rose 0.3% and was on track for a weekly gain, making gold costlier for foreign buyers."The US dollar is up slightly, which could be a source of pressure for gold," said Carsten Menke, analyst at Julius Baer."Barring a major surprise to the PCE data, I would not expect gold to show a meaningful reaction. That said, the market seems to be a bit more nervous as of late, suggesting that volatility should stay high in the short term," Menke Personal Consumption Expenditures (PCE) index, the Fed's preferred inflation measure, is due at 1230 GMT. The data is likely to show that inflation rose 2.2% in April, according to economists polled by Reuters, compared with a 2.3% increase in March."With US core PCE looming large, there is some hesitance to take new long positions in gold," said Tim Waterer, chief market analyst at KCM are currently anticipating 50 basis points worth of Fed rate cuts by the end of this year, starting in which is considered a hedge against economic and geopolitical uncertainty, tends to thrive in a low-interest-rate a federal appeals court temporarily reinstated the most sweeping of President Donald Trump's tariffs on Thursday, a day after a US trade court ruled he had exceeded his authority and ordered an immediate block. Spot silver fell 0.6% to $33.14 an ounce, platinum eased 1.2% to $1,068.80 and palladium dropped 0.6% to $967.70.
Zawya
3 days ago
- Business
- Zawya
Gold falls as dollar strengthens ahead of key US inflation data
Gold prices fell on Friday as the dollar ticked up, while investors remained cautious ahead of key U.S. inflation data due later in the day to gauge the Federal Reserve's monetary policy trajectory. Spot gold was down 0.6% at $3,295.99 an ounce, as of 0841 GMT. Bullion is down 1.8% so far this week. U.S. gold futures fell 0.6% to $3,294.20. The dollar rose 0.2% against its rivals and is on track for a weekly gain, making gold costlier for foreign buyers. "The U.S. dollar is up slightly this morning, which could be a source of pressure for gold," said Carsten Menke, analyst at Julius Baer. "Barring a major surprise to the PCE data, I would not expect gold to show a meaningful reaction. That said, the market seems to be a bit more nervous as of late, suggesting that volatility should stay high in the short-term." The Personal Consumption Expenditures (PCE) index, the Fed's preferred inflation measure, is due at 1230 GMT. The data is likely to show that inflation rose 2.2% in April, according to economists polled by Reuters, compared with a 2.3% increase in March. "With U.S. core PCE looming large, there is some hesitance to take new long positions in gold," said Tim Waterer, chief market analyst at KCM Trade. Investors are currently anticipating 50 basis points worth of rate cuts by the end of this year, starting in October. Zero-yield bullion tends to do well in a low-interest rate environment. Meanwhile, a federal appeals court temporarily reinstated the most sweeping of President Donald Trump's tariffs on Thursday, a day after a U.S. trade court ruled he had exceeded his authority and ordered an immediate block. Spot silver fell 0.6% to $33.16 an ounce, platinum eased 0.8% to $1,073.80 and palladium dropped 0.4% to $969.79.
