Latest news with #NikosTzabouras
New Straits Times
5 days ago
- Business
- New Straits Times
Gold gains on weak dollar, investors ramp up Fed rate cut bets
NEW YORK: Gold rose on Wednesday, lifted by a weaker dollar and falling Treasury yields, as mild US inflation data cemented expectations for a Federal Reserve rate cut in September and nudged up bets on additional easing later this year. Spot gold gained 0.3 per cent to US$3,355.58 per ounce by 4.58pm ET (2058 GMT). US gold futures for December delivery settled 0.3 per cent higher at US$3,408.30. The dollar index hit a more than two-week low, making bullion cheaper for overseas buyers, while the yield on the benchmark 10-year Treasury note edged lower. "Gold is buoyant on heightened expectations of a September Fed rate cut, following benign CPI data and July's weak non-farm payrolls," said Nikos Tzabouras, senior market analyst at Markets are pricing in a 97 per cent chance of a September Fed cut after mild July inflation data signalled limited pass-through from US President Donald Trump's sweeping import tariffs, following weak jobs data earlier this month, reinforcing bets on at least one more cut. Investors now await further US indicators this week, including the producer price index, weekly jobless claims, and retail sales. On the geopolitical front, European and Ukrainian leaders were set to speak with Trump ahead of his meeting with Russian President Vladimir Putin, while Washington and Beijing extended their tariff truce by 90 days. "If gold were to take out recent resistance around US$3,400, it would likely be driven more by geopolitical developments than by economic data," Fawad Razaqzada, market analyst at City Index and said. "While I maintain a bullish long-term outlook on gold, my view for the rest of this year is more cautious. Prices may continue to consolidate or see a mini correction in the coming months as equity markets rally aggressively." Gold, a traditional refuge in times of economic or geopolitical strain, tends to benefit from low interest rates. Spot silver rose 1.6 per cent to US$38.50 per ounce, platinum gained 0.3 per cent at US$1,339.75 and palladium added 0.5 per cent to US$1,135.23.
Economic Times
5 days ago
- Business
- Economic Times
Gold gains on weak dollar, investors ramp up Fed rate cut bets
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Gold rose on Wednesday, lifted by a weaker dollar and falling Treasury yields , as mild U.S. inflation data cemented expectations for a Federal Reserve rate cut in September and nudged up bets on additional easing later this gold gained 0.3% to $3,355.58 per ounce by 4:58 p.m. ET (2058 GMT). U.S. gold futures for December delivery settled 0.3% higher at $3, dollar index hit a more than two-week low, making bullion cheaper for overseas buyers, while the yield on the benchmark 10-year Treasury note edged lower."Gold is buoyant on heightened expectations of a September Fed rate cut, following benign CPI data and July's weak non-farm payrolls," said Nikos Tzabouras, senior market analyst at are pricing in a 97% chance of a September Fed cut after mild July inflation data signalled limited pass-through from U.S. President Donald Trump's sweeping import tariffs, following weak jobs data earlier this month, reinforcing bets on at least one more now await further U.S. indicators this week, including the producer price index, weekly jobless claims, and retail the geopolitical front, European and Ukrainian leaders were set to speak with Trump ahead of his meeting with Russian President Vladimir Putin, while Washington and Beijing extended their tariff truce by 90 days."If gold were to take out recent resistance around $3,400, it would likely be driven more by geopolitical developments than by economic data," Fawad Razaqzada, market analyst at City Index and said."While I maintain a bullish long-term outlook on gold, my view for the rest of this year is more cautious. Prices may continue to consolidate or see a mini correction in the coming months as equity markets rally aggressively."Gold, a traditional refuge in times of economic or geopolitical strain, tends to benefit from low interest silver rose 1.6% to $38.50 per ounce, platinum gained 0.3% at $1,339.75 and palladium added 0.5% to $1,135.23.
Reuters
6 days ago
- Business
- Reuters
Gold gains on weak dollar, investors ramp up Fed rate cut bets
Aug 13 (Reuters) - Gold rose on Wednesday, lifted by a weaker dollar and falling Treasury yields, as mild U.S. inflation data cemented expectations for a Federal Reserve rate cut in September and nudged up bets on additional easing later this year. Spot gold gained 0.5% to $3,362.92 per ounce by 9:47 a.m. ET (1347 GMT). U.S. gold futures for December delivery rose 0.4% to $3,412.20. The dollar index (.DXY), opens new tab hit a more than two-week low, making bullion cheaper for overseas buyers, while the yield on the benchmark 10-year Treasury note edged lower. "Gold is buoyant on heightened expectations of a September Fed rate cut, following benign CPI data and July's weak non-farm payrolls," said Nikos Tzabouras, senior market analyst at Markets are pricing in a 97% chance of a September Fed cut after mild July inflation data signalled limited pass-through from U.S. President Donald Trump's sweeping import tariffs, following weak jobs data earlier this month, reinforcing bets on at least one more cut. Investors now await further U.S. indicators this week, including the producer price index, weekly jobless claims, and retail sales. On the geopolitical front, European and Ukrainian leaders were set to speak with Trump ahead of his meeting with Russian President Vladimir Putin, while Washington and Beijing extended their tariff truce by 90 days. "If gold were to take out recent resistance around $3,400, it would likely be driven more by geopolitical developments than by economic data," Fawad Razaqzada, market analyst at City Index and said. "While I maintain a bullish long-term outlook on gold, my view for the rest of this year is more cautious. Prices may continue to consolidate or see a mini correction in the coming months as equity markets rally aggressively." Gold, a traditional refuge in times of economic or geopolitical strain, tends to benefit from low interest rates. Spot silver rose 1.6% to $38.48 per ounce, platinum was down 0.1% at $1,335.19 and palladium gained 0.1% to $1,129.89.
Wall Street Journal
25-07-2025
- Business
- Wall Street Journal
Gold Futures Fall as Risk-On Sentiment Dulls Safe-Haven Appeal
1144 GMT – Gold futures slip as risk-on market sentiment prevails and the dollar strengthens. Futures are down 0.9% at $3,342.40 a troy ounce. The precious metal is under pressure on fading safe-haven demand after the U.S.-Japan trade deal, Nikos Tzabouras says in a note. The deal is expected to reduce the hit from President Trump's tariff policies on both the global and U.S. economies, Tzabouras writes. This optimism, coupled with strong U.S. jobs data, has lowered hopes for imminent Federal Reserve interest-rate cuts. While this is positive for the dollar, it has weighed on noninterest bearing bullion, Tzabouras says. That said, gold's safe-haven appeal could quickly return on trade tensions ahead of the Aug. 1 tariff-reimplementation deadline and central bank demand remains supportive, he adds. ( 1147 GMT – Base metal prices are mixed, with LME three-month copper down 0.3% at $9,827 a metric ton and LME three-month aluminum up 0.15% at $2,650 a ton. That said, copper and aluminum are up 1.2% and 3.3% on month. Sentiment on the metals market is good with the London Metal Exchange index approaching highs last seen in March, Commerzbank analysts say in a note. Investors are likely to focus their attention more on upcoming sentiment indicators from China, rather than economic indicators from the U.S. or the eurozone, Commerzbank says. If Chinese indicators brighten, expectations for industrial-metals demand will increase and the metals index could push closer to previous highs, analysts say. (
Business Recorder
24-07-2025
- Business
- Business Recorder
Gold prices fall on US-Japan trade deal
NEW YORK: Gold prices fell on Wednesday after a US-Japan trade deal eased market uncertainty, while strong industrial demand and a supply shortage drove silver to its highest level since September 2011. Spot gold was down 0.6% at $3,412.03 per ounce, as of 1351 GMT, after hitting its highest point since June 16 earlier in the session. US gold futures also slipped 0.7% to $3,421.50. 'Trade deals like the one between the US and Japan mitigate macroeconomic concerns and may dampen safe haven demand. This could lead to a continuation of the recent push and pull in (gold) prices,' said Nikos Tzabouras, senior market analyst at US President Donald Trump struck a trade deal with Japan on Wednesday that lowers auto tariffs, marking the most significant agreement his administration has negotiated since announcing the tariffs in April. However, the longer-term prospects for gold remain favourable, Tzabouras added. 'Dollar weakness could persist amid mounting concerns over the Fed's independence and worries over the US debt. This could exacerbate the dedollarisation trends and lead to higher gold holdings by central banks.' Bullion tends to thrive in periods of uncertainty and also in low-interest-rate environments because the opportunity cost of holding a non-yielding asset is reduced. The markets do not expect an interest rate cut from the US Federal Reserve in July, but the Fed's independence appears under threat from mounting political interference, according to a clear majority of economists polled by Reuters. Among other metals, spot silver rose 0.2% to $39.35 per ounce, a near 14-year peak. 'The recent rally in silver is being driven by a combination of strong industrial demand, persistent supply deficits, and increased investor interest,' said Alexander Zumpfe, a precious metals trader at Heraeus Metals Germany. 'A decisive push past $40 could come from a further breakout in gold prices, renewed weakness in the US dollar, or signs of deeper supply tightness – especially if physical premiums start to rise again in key Asian markets.' Platinum fell 1.4% to $1,420.92 and palladium was down 0.4% at $1,269.60.—Reuters
