Latest news with #IlyaSpivak
Zawya
09-07-2025
- Business
- Zawya
Gold hovers near one-week low as firmer US dollar, yields weigh
Gold prices hovered on Wednesday near their lowest point in more than one week, under pressure from a stronger U.S. dollar and rising Treasury yields, as fresh tariff threats from U.S. President Donald Trump unsettled markets. Spot gold held its ground at $3,301.50 per ounce as of 0234 GMT. U.S. gold futures fell 0.2% to $3,310.10. Trump said he would impose a 50% tariff on imported copper and introduce long-threatened levies on semiconductors and pharmaceuticals. Trump reiterated his threat of 10% tariffs on BRICS nations on Tuesday, a day after notifying 14 countries, including Japan and South Korea, of tariff increases set to take effect on August 1. The U.S. dollar index steadied after nearing a two-week high late on Tuesday, while the yield on benchmark 10-year U.S. Treasury notes hovered near a three-week high. "Gold prices are holding up impressively well this month against a backdrop of rising yields and a strengthening U.S. dollar ... its ability to resist the pressure suggests underlying strength and a bullish bias," said Ilya Spivak, head of global macro at Tastylive. Higher yield increases the opportunity cost of holding non-yielding bullion, while a weaker dollar makes gold more affordable for holders of other currencies. Investors will closely examine the U.S. Federal Reserve's latest meeting minutes, due later in the day, for hints of potential interest rate cuts amid the central bank's wait-and-see approach. "It's a light week for economic data, but how prices react to minutes from June's FOMC meeting may help establish where we are in Fed vs. markets policy debate," Spivak said. Meanwhile, Americans' inflation outlook remained stable, with the New York Fed's latest survey showing one-year inflation estimates at 3%, down from 3.2% in May, while the three- and five-year expectations stayed at 3% and 2.6%, respectively. Spot silver fell 0.5% at $36.58 per ounce, platinum was down 0.8% at $1,348.78 and palladium lost 0.4% to $1,106.29.
Yahoo
09-07-2025
- Business
- Yahoo
Gold hovers near one-week low as firmer US dollar, yields weigh
By Anmol Choubey (Reuters) -Gold prices hovered on Wednesday near their lowest point in more than one week, under pressure from a stronger U.S. dollar and rising Treasury yields, as fresh tariff threats from U.S. President Donald Trump unsettled markets. Spot gold held its ground at $3,301.50 per ounce as of 0234 GMT. U.S. gold futures fell 0.2% to $3,310.10. Trump said he would impose a 50% tariff on imported copper and introduce long-threatened levies on semiconductors and pharmaceuticals. Trump reiterated his threat of 10% tariffs on BRICS nations on Tuesday, a day after notifying 14 countries, including Japan and South Korea, of tariff increases set to take effect on August 1. The U.S. dollar index steadied after nearing a two-week high late on Tuesday, while the yield on benchmark 10-year U.S. Treasury notes hovered near a three-week high. [USD/] [US/] "Gold prices are holding up impressively well this month against a backdrop of rising yields and a strengthening U.S. dollar ... its ability to resist the pressure suggests underlying strength and a bullish bias," said Ilya Spivak, head of global macro at Tastylive. Higher yield increases the opportunity cost of holding non-yielding bullion, while a weaker dollar makes gold more affordable for holders of other currencies. Investors will closely examine the U.S. Federal Reserve's latest meeting minutes, due later in the day, for hints of potential interest rate cuts amid the central bank's wait-and-see approach. "It's a light week for economic data, but how prices react to minutes from June's FOMC meeting may help establish where we are in Fed vs. markets policy debate," Spivak said. Meanwhile, Americans' inflation outlook remained stable, with the New York Fed's latest survey showing one-year inflation estimates at 3%, down from 3.2% in May, while the three- and five-year expectations stayed at 3% and 2.6%, respectively. Spot silver fell 0.5% at $36.58 per ounce, platinum was down 0.8% at $1,348.78 and palladium lost 0.4% to $1,106.29. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Gulf Business
24-06-2025
- Business
- Gulf Business
Israel-Iran ceasefire: Gold at near 2-week low after Trump's announcement
Image credit: Srinophan69/ Getty Images Spot gold was down 0.5 per cent to $3,351.47 an ounce, as of 0257 GMT, after hitting its lowest level since June 11 earlier in the session. Read- US gold futures slipped 0.9 per cent to $3,365.30. 'It seems like there's a good bit of geopolitical risk that's exiting the market here near term after, of course, we have signs of de-escalation between the US and Iran,' said Ilya Spivak, head of global macro at Tastylive. Trump announced a complete ceasefire between Israel and Iran, potentially ending the 12-day conflict that saw millions flee Tehran and prompted fears of further escalation in the war-torn region. There was no immediate comment from Israel. While an Iranian official earlier confirmed that Tehran had agreed to a ceasefire, the country's foreign minister said there would be no cessation of hostilities unless Israel stopped its attacks. Global shares rallied, while oil prices slipped to a one-week low after Trump announced the Iran-Israel ceasefire. Meanwhile, US Federal Reserve Vice Chair for Supervision Michelle Bowman said on Monday that the time to cut interest rates is approaching amid potential risks to the job market. Investors await testimony by Fed Chair Jerome Powell before the House Financial Services Committee later on Tuesday. Powell has been cautious about signalling near-term easing. 'The bias for gold prices is higher, but we might see a correction in near-term and an uptick in the dollar if Powell convinces markets that they're not going to cut more than twice this year,' Spivak said. Gold tends to thrive in a low-interest-rate environment.
Asharq Al-Awsat
24-06-2025
- Business
- Asharq Al-Awsat
Gold at Near 2-week Low after Trump Announces Israel-Iran Ceasefire
Gold prices fell to a near two-week low on Tuesday as risk appetite improved after US President Donald Trump said Iran and Israel had agreed to a ceasefire, denting demand for safe-haven assets. Spot gold was down 0.9% at $3,338.39 an ounce, as of 0526 GMT, after hitting its lowest level since June 11 earlier in the session, Reuters reported. US gold futures slipped 1.2% to $3,352.60. "It seems like there's a good bit of geopolitical risk that's exiting the market here near term after, of course, we have signs of de-escalation between the US and Iran," said Ilya Spivak, head of global macro at Tastylive. Trump announced a complete ceasefire between Israel and Iran, potentially ending the 12-day conflict that saw millions flee Tehran and prompted fears of further escalation in the region. There was no immediate comment from Israel. While an Iranian official earlier confirmed that Tehran had agreed to a ceasefire, the country's foreign minister said there would be no cessation of hostilities unless Israel stopped its attacks. Global shares rallied, while oil prices slipped to a one-week low after Trump announced the Iran-Israel ceasefire. Meanwhile, US Federal Reserve Vice Chair for Supervision Michelle Bowman said on Monday that the time to cut interest rates is approaching amid potential risks to the job market. Investors await testimony by Fed Chair Jerome Powell before the House Financial Services Committee later on Tuesday. Powell has been cautious about signaling near-term easing. "The bias for gold prices is higher, but we might see a correction in the near-term and an uptick in the dollar if Powell convinces markets that they're not going to cut more than twice this year," Spivak said. Gold tends to thrive in a low-interest-rate environment. Elsewhere, spot silver eased 0.1% to $36.08 per ounce, platinum fell 0.3% to $1,290.67, while palladium slipped 1.3% to $1,062.94.
Yahoo
24-06-2025
- Business
- Yahoo
Gold at near 2-week low after Trump announces Israel-Iran ceasefire
By Brijesh Patel (Reuters) -Gold prices fell to a near two-week low on Tuesday as risk appetite improved after U.S. President Donald Trump said Iran and Israel had agreed to a ceasefire, denting demand for safe-haven assets. Spot gold was down 0.5% to $3,351.47 an ounce, as of 0257 GMT, after hitting its lowest level since June 11 earlier in the session. U.S. gold futures slipped 0.9% to $3,365.30. "It seems like there's a good bit of geopolitical risk that's exiting the market here near term after, of course, we have signs of de-escalation between the U.S. and Iran," said Ilya Spivak, head of global macro at Tastylive. Trump announced a complete ceasefire between Israel and Iran, potentially ending the 12-day conflict that saw millions flee Tehran and prompted fears of further escalation in the war-torn region. There was no immediate comment from Israel. While an Iranian official earlier confirmed that Tehran had agreed to a ceasefire, the country's foreign minister said there would be no cessation of hostilities unless Israel stopped its attacks. Global shares rallied, while oil prices slipped to a one-week low after Trump announced the Iran-Israel ceasefire. [MKTS/GLOB] [O/R] Meanwhile, U.S. Federal Reserve Vice Chair for Supervision Michelle Bowman said on Monday that the time to cut interest rates is approaching amid potential risks to the job market. Investors await testimony by Fed Chair Jerome Powell before the House Financial Services Committee later on Tuesday. Powell has been cautious about signalling near-term easing. "The bias for gold prices is higher, but we might see a correction in near-term and an uptick in the dollar if Powell convinces markets that they're not going to cut more than twice this year," Spivak said. Gold tends to thrive in a low-interest-rate environment. Elsewhere, spot silver eased 0.1% to $36.10 per ounce, platinum fell 0.2% to $1,292.39, while palladium slipped 0.4% to $1,073.05. Connectez-vous pour accéder à votre portefeuille
