Latest news with #Tastylive
Business Recorder
06-08-2025
- Business
- Business Recorder
Gold inches lower as dollar gains, markets await Fed appointments
Gold prices edged lower on Wednesday due to a slightly firmer dollar, while investors held back from making big bets ahead of U.S. President Donald Trump's decision on appointments to the Federal Reserve. Spot gold was down 0.2% at $3,374.72 per ounce, as of 0442 GMT, after hitting a near two-week high on Tuesday. U.S. gold futures fell 0.1% to $3,429.80. The dollar rebounded from a one-week low hit in the previous session, reducing gold's appeal to holders of other currencies. 'Gold has been caught between conflicting forces. The drop in yields has helped, but the U.S. dollar has managed to hold up well despite Friday's selloff. That has produced the range we're now seeing, as prices wait for conviction across the catalysts,' said Ilya Spivak, head of global macro at Tastylive. Trump on Tuesday said he would soon announce a short-term replacement for Fed Governor Adriana Kugler, who announced her resignation on Friday, as well as his pick for the next Fed chair. The CME FedWatch tool now puts the odds of a September cut at nearly 87%, after Friday's weaker-than-expected employment growth data, following which Trump fired the commissioner of the U.S. Bureau of Labor Statistics (BLS). On the trade front, Trump again threatened to raise tariffs on goods from India over its Russian oil purchases, while New Delhi called his attack 'unjustified' and vowed to protect its economic interests, deepening the trade rift between the two countries. Elsewhere, Perth Mint's gold product sales fell 33% in July from the previous month, while silver sales slipped to a six-month low, the refiner said on Wednesday. Spot silver was steady at $37.82 per ounce, platinum slipped 0.5% to $1,314.76 and palladium fell 0.6% to $1,168.42.
Business Recorder
09-07-2025
- Business
- Business Recorder
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.
CNBC
09-07-2025
- Business
- CNBC
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.
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
