Latest news with #EdwardMeir
Khaleej Times
3 days ago
- Business
- Khaleej Times
Gold falls to near 3-week low as US-EU deal boosts risk appetite ahead of Fed meeting
Gold fell to a near three-week low on Monday as a U.S.-European Union trade accord lifted the dollar and risk sentiment, while investors awaited fresh cues on rate policy from this week's Federal Reserve meeting. Spot gold fell 0.6% to $3,316.03 per ounce as of 11:36 a.m. ET (1536 GMT), after touching its lowest level since July 9, earlier in the session. U.S. gold futures were down 0.7% at $3,313.2 per ounce. The U.S. dollar index rose to a one-week high, making bullion more expensive for overseas buyers. "I think the more trade announcements we get, the more the dollar increases. These tariff deals are dollar friendly, lowering the allure of gold and driving the sell-off amid a risk-on sentiment," said Marex analyst Edward Meir. A weekend deal between U.S. President Donald Trump and the European Commission imposed a 15% tariff on EU goods, half the rate initially threatened, easing fears of a broader trade war. That pact came on the heels of last week's U.S.-Japan agreement, while U.S. and Chinese officials will resume talks in Stockholm on Monday, aiming to extend their trade truce by another 90 days. However, a U.S. trade representative said no major breakthrough was expected with China, noting discussions would focus on monitoring and implementing existing commitments. "You're not seeing a huge move on the downside in gold because the deals could still prove to be either difficult to implement or unrealistic," said Meir. The U.S. Federal Reserve is expected to keep its benchmark rate in the 4.25%–4.50% range when its two-day meeting concludes on Wednesday. Markets, meanwhile, continue to price in a potential September rate reduction. Gold tends to do well in a low-interest-rate environment. Elsewhere, spot silver was down 0.1% at $38.12 per ounce and platinum fell 0.6% to $1,393.25, while palladium gained 2.1% to $1,245.52.
Reuters
3 days ago
- Business
- Reuters
Gold falls to near 3-week low as US-EU deal boosts risk appetite ahead of Fed meeting
July 28 (Reuters) - Gold fell to a near three-week low on Monday as a U.S.-European Union trade accord lifted the dollar and risk sentiment, while investors awaited fresh cues on rate policy from this week's Federal Reserve meeting. Spot gold fell 0.6% to $3,316.03 per ounce as of 11:36 a.m. ET (1536 GMT), after touching its lowest level since July 9, earlier in the session. U.S. gold futures were down 0.7% at $3,313.2 per ounce. The U.S. dollar index (.DXY), opens new tab rose to a one-week high, making bullion more expensive for overseas buyers. "I think the more trade announcements we get, the more the dollar increases. These tariff deals are dollar friendly, lowering the allure of gold and driving the sell-off amid a risk-on sentiment," said Marex analyst Edward Meir. A weekend deal between U.S. President Donald Trump and the European Commission imposed a 15% tariff on EU goods, half the rate initially threatened, easing fears of a broader trade war. That pact came on the heels of last week's U.S.-Japan agreement, while U.S. and Chinese officials will resume talks in Stockholm on Monday, aiming to extend their trade truce by another 90 days. However, a U.S. trade representative said no major breakthrough was expected with China, noting discussions would focus on monitoring and implementing existing commitments. "You're not seeing a huge move on the downside in gold because the deals could still prove to be either difficult to implement or unrealistic," said Meir. The U.S. Federal Reserve is expected to keep its benchmark rate in the 4.25%–4.50% range when its two-day meeting concludes on Wednesday. Markets, meanwhile, continue to price in a potential September rate reduction. Gold tends to do well in a low-interest-rate environment. Elsewhere, spot silver was down 0.1% at $38.12 per ounce and platinum fell 0.6% to $1,393.25, while palladium gained 2.1% to $1,245.52.
Reuters
3 days ago
- Business
- Reuters
Gold falls 1% as US-EU deal boosts risk appetite ahead of Fed meeting
July 28 (Reuters) - Gold fell to a near three-week low on Monday as a U.S.-European Union trade accord lifted the dollar and risk sentiment, while investors awaited fresh cues on rate policy from this week's Federal Reserve meeting. Spot gold fell 1% to $3,304.87 per ounce as of 10:10 a.m. ET (1410 GMT), touching its lowest level since July 9. U.S. gold futures were down 0.6% at $3,320.20 per ounce. The U.S. dollar index (.DXY), opens new tab rose to a one-week high, making bullion more expensive for overseas buyers. "I think the more trade announcements we get, the more the dollar increases. These tariff deals are dollar friendly, lowering the allure of gold and driving the sell-off amid a risk-on sentiment," said Marex analyst Edward Meir. A weekend deal between U.S. President Donald Trump and the European Commission imposed a 15% tariff on EU goods, half the rate initially threatened, easing fears of a broader trade war. That pact came on the heels of last week's U.S.-Japan agreement, while U.S. and Chinese officials will resume talks in Stockholm on Monday, aiming to extend their trade truce by another 90 days. However, a U.S. trade representative said no major breakthrough was expected with China, noting discussions would focus on monitoring and implementing existing commitments. "You're not seeing a huge move on the downside in gold because the deals could still prove to be either difficult to implement or unrealistic," said Meir. The U.S. Federal Reserve is expected to keep its benchmark rate in the 4.25%–4.50% range when its two-day meeting concludes on Wednesday. Markets, meanwhile, continue to price in a potential September rate reduction. Gold tends to do well in a low-interest-rate environment. Elsewhere, spot silver was down 0.2% at $38.05 per ounce, while platinum fell 1.8% at $1,375.88 and palladium gained 0.5% to $1,226.25.
Time of India
19-07-2025
- Business
- Time of India
Safe-haven gold gains on global uncertainty, weaker dollar
Gold prices rose on Friday as a weaker U.S. dollar and ongoing geopolitical and economic uncertainty boosted demand for the safe-haven metal, while platinum prices eased after reaching their highest level since 2014. Spot gold rose 0.5% to $3,353.80 per ounce, as of 0947 a.m. EDT (13:47 GMT), after falling 1.1% in the previous session. Explore courses from Top Institutes in Select a Course Category Data Analytics MCA Public Policy CXO Leadership Data Science Management Healthcare Design Thinking Digital Marketing Technology MBA others Product Management Artificial Intelligence Degree Project Management Operations Management Cybersecurity Finance PGDM healthcare Others Data Science Skills you'll gain: Data Analysis & Visualization Predictive Analytics & Machine Learning Business Intelligence & Data-Driven Decision Making Analytics Strategy & Implementation Duration: 12 Weeks Indian School of Business Applied Business Analytics Starts on Jun 13, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play this game for 1 minute and see why everyone is addicted. Undo U.S. gold futures were also up 0.5% to $3,360.50. "In the precious metals space, there are gains across the board, courtesy of a weaker dollar," said Marex analyst Edward Meir. "We do not see much of a bearish case in gold over the medium-term given all that is going on, including out-of-control U.S. spending, lingering trade tensions, inflation uncertainty and the constant Fed bashing thrown in lately for good measure." Live Events The dollar was down 0.5% for the day. A weaker dollar tends to make gold cheaper for buyers holding other currencies. Earlier this week, Trump said he was not planning to fire Federal Reserve Chair Jerome Powell. Still, he kept the door open to the possibility and renewed his criticism of the central bank chief for not lowering interest rates. Market participants are anticipating two U.S. rate cuts by the end of this year, totalling 50 basis points. Gold thrives during economic uncertainty, and lower interest rates boost investor demand as it is a non-yielding asset. On the tariff front, Indonesia is still negotiating the details of its recently reached trade deal with the United States. Meanwhile, U.S. Treasury Secretary Janet Yellen told the Japanese Prime Minister that their countries can get a "good agreement". Spot platinum fell 0.7% to $1,448.03 per ounce, after hitting its highest since August 2014 earlier today. Palladium climbed 0.7% to $1,289.50, its highest since June 2023, and silver added 0.5% to $38.31. "In precious metals, the carnival has moved on from safe-haven gold to silver, platinum and palladium as pro-growth, industrial alternatives," said Adrian Ash, head of research at online marketplace BullionVault.
Reuters
18-07-2025
- Business
- Reuters
Safe-haven gold gains on global uncertainty, weaker dollar
July 18 (Reuters) - Gold prices rose on Friday as a weaker U.S. dollar and ongoing geopolitical and economic uncertainty boosted demand for the safe-haven metal, while platinum prices eased after reaching their highest level since 2014. Spot gold rose 0.5% to $3,353.80 per ounce, as of 0947 a.m. EDT (13:47 GMT), after falling 1.1% in the previous session. U.S. gold futures were also up 0.5% to $3,360.50. "In the precious metals space, there are gains across the board, courtesy of a weaker dollar," said Marex analyst Edward Meir. "We do not see much of a bearish case in gold over the medium-term given all that is going on, including out-of-control U.S. spending, lingering trade tensions, inflation uncertainty and the constant Fed bashing thrown in lately for good measure." The dollar (.DXY), opens new tab was down 0.5% for the day. A weaker dollar tends to make gold cheaper for buyers holding other currencies. Earlier this week, Trump said he was not planning to fire Federal Reserve Chair Jerome Powell. Still, he kept the door open to the possibility and renewed his criticism of the central bank chief for not lowering interest rates. Market participants are anticipating two U.S. rate cuts by the end of this year, totalling 50 basis points. Gold thrives during economic uncertainty, and lower interest rates boost investor demand as it is a non-yielding asset. On the tariff front, Indonesia is still negotiating the details of its recently reached trade deal with the United States. Meanwhile, U.S. Treasury Secretary Janet Yellen told the Japanese Prime Minister that their countries can get a "good agreement". Spot platinum fell 0.7% to $1,448.03 per ounce, after hitting its highest since August 2014 earlier today. Palladium climbed 0.7% to $1,289.50, its highest since June 2023, and silver added 0.5% to $38.31. "In precious metals, the carnival has moved on from safe-haven gold to silver, platinum and palladium as pro-growth, industrial alternatives," said Adrian Ash, head of research at online marketplace BullionVault.
