Latest news with #Tastylive
Gulf Business
16-05-2025
- Business
- Gulf Business
Gold set for worst drop in six months: Find out why
Image credit: Getty Images Gold prices dropped on Friday and were poised for their steepest weekly decline in six months, as a stronger dollar and waning trade war concerns dampened its appeal as a safe-haven asset. Read- Spot gold was down 0.8 per cent at $3,213.56 an ounce, as of 0429 GMT. Bullion has lost 3.3 per cent so far this week and is set for its worst weekly performance since November 2024. US gold futures shed 0.3 per cent to $3,217.20. Dollar gain The dollar has gained 0.4 per cent for the week so far and was headed for its fourth straight weekly gain, making greenback-priced gold more expensive for overseas buyers. 'Gold prices faced heavy selling pressure this week as markets cheered (a) de-escalation in the US-China trade (war),' said Ilya Spivak, head of global macro at Tastylive. Tit-for-tat tariffs Earlier this week, the US and China agreed to temporarily slash the harsh tit-for-tat tariffs imposed in April. Meanwhile, data showed US producer prices fell unexpectedly in April and retail sales growth slowed. Consumer prices rose less than expected in April, a report showed. Trade policies On Thursday, Federal Reserve Governor Michael Barr said the US economy is on solid footing with inflation heading to the central bank's 2 per cent target, but trade policies have clouded the outlook. Markets are pricing in 57 basis points of rate cuts this year, with the easing projected to start in September. Gold, traditionally seen as a hedge against economic and political uncertainties, thrives in a low-rate environment. 'On the plus side, gold price dips continue to attract buyers which shows that the precious metal remains a favoured asset, with the global growth and inflation outlooks still looking rather murky,' said KCM Trade Chief Market Analyst Tim Waterer. Spot silver fell nearly 1 per cent to $32.37 an ounce, platinum was down 0.5 per cent at $984.83 and palladium lost 1.2 per cent to $956.43.
Zawya
16-05-2025
- Business
- Zawya
Gold set for worst week in six months as trade calm dents appeal
Gold prices eased on Friday and were poised for their steepest weekly decline in six months, as a stronger dollar and waning trade war concerns dampened its appeal as a safe-haven asset. Spot gold fell 0.5% to $3,223.06 an ounce as of 0222 GMT. Bullion has lost about 3% so far this week and is set for its worst weekly performance since November 2024. U.S. gold futures shed 0.1% to $3,224.90. The dollar added 0.3% for the week so far and was headed for its fourth straight week of gains, making greenback-priced gold more expensive for overseas buyers. "Gold prices faced heavy selling pressure this week as markets cheered (a) de-escalation in the U.S.-China trade (war)," said Ilya Spivak, head of global macro at Tastylive. Earlier this week, the U.S. and China agreed to temporarily slash the harsh tit-for-tat tariffs imposed in April. Meanwhile, data showed U.S. producer prices fell unexpectedly in April, while retail sales growth slowed. Consumer prices rose less than expected in April, a report showed. On Thursday, Federal Reserve Governor Michael Barr said the U.S. economy is on solid footing with inflation heading to the central bank's 2% target, but trade policies have clouded the outlook. Markets are pricing in 57 basis points of rate cuts this year, with the easing projected to start in September. Gold, traditionally seen as a hedge against economic and political uncertainties, thrives in a low-rate environment. "On the plus side, gold price dips continue to attract buyers which shows that the precious metal remains a favoured asset, with the global growth and inflation outlooks still looking rather murky," said KCM Trade Chief Market Analyst Tim Waterer. Spot silver eased 0.6% to $32.49 an ounce, platinum fell 0.3% to $986.58 and palladium lost 1.1% to $957.42. (Reporting by Anushree Mukherjee in Bengaluru; Editing by Sumana Nandy and Sherry Jacob-Phillips)
Globe and Mail
16-05-2025
- Business
- Globe and Mail
Gold set for worst week in six months as trade calm dents appeal
Gold prices eased on Friday and were poised for their steepest weekly decline in six months, as a stronger dollar and waning trade war concerns dampened its appeal as a safe-haven asset. Spot gold fell 0.5 per cent to $3,223.06 an ounce as of 0222 GMT. Bullion has lost about 3 per cent so far this week and is set for its worst weekly performance since November 2024. U.S. gold futures shed 0.1 per cent to $3,224.90. The dollar added 0.3 per cent for the week so far and was headed for its fourth straight week of gains, making greenback-priced gold more expensive for overseas buyers. 'Gold prices faced heavy selling pressure this week as markets cheered [a] de-escalation in the U.S.-China trade [war],' said Ilya Spivak, head of global macro at Tastylive. Earlier this week, the U.S. and China agreed to temporarily slash the harsh tit-for-tat tariffs imposed in April. Meanwhile, data showed U.S. producer prices fell unexpectedly in April, while retail sales growth slowed. Consumer prices rose less than expected in April, a report showed. On Thursday, Federal Reserve Governor Michael Barr said the U.S. economy is on solid footing with inflation heading to the central bank's 2 per cent target, but trade policies have clouded the outlook. Markets are pricing in 57 basis points of rate cuts this year, with the easing projected to start in September. Gold, traditionally seen as a hedge against economic and political uncertainties, thrives in a low-rate environment. 'On the plus side, gold price dips continue to attract buyers which shows that the precious metal remains a favoured asset, with the global growth and inflation outlooks still looking rather murky,' said KCM Trade Chief Market Analyst Tim Waterer. Spot silver eased 0.6 per cent to $32.49 an ounce, platinum fell 0.3 per cent to $986.58 and palladium lost 1.1 per cent to $957.42.
Business Recorder
16-05-2025
- Business
- Business Recorder
Gold set for worst week in six months as trade calm dents appeal
Gold prices eased on Friday and were poised for their steepest weekly decline in six months, as a stronger dollar and waning trade war concerns dampened its appeal as a safe-haven asset. Spot gold fell 0.5% to $3,223.06 an ounce as of 0222 GMT. Bullion has lost about 3% so far this week and is set for its worst weekly performance since November 2024. U.S. gold futures shed 0.1% to $3,224.90. The dollar added 0.3% for the week so far and was headed for its fourth straight week of gains, making greenback-priced gold more expensive for overseas buyers. 'Gold prices faced heavy selling pressure this week as markets cheered (a) de-escalation in the U.S.-China trade (war),' said Ilya Spivak, head of global macro at Tastylive. Earlier this week, the U.S. and China agreed to temporarily slash the harsh tit-for-tat tariffs imposed in April. Meanwhile, data showed U.S. producer prices fell unexpectedly in April, while retail sales growth slowed. Consumer prices rose less than expected in April, a report showed. On Thursday, Federal Reserve Governor Michael Barr said the U.S. economy is on solid footing with inflation heading to the central bank's 2% target, but trade policies have clouded the outlook. Gold prices fall as trade optimism rises Markets are pricing in 57 basis points of rate cuts this year, with the easing projected to start in September. Gold, traditionally seen as a hedge against economic and political uncertainties, thrives in a low-rate environment. 'On the plus side, gold price dips continue to attract buyers which shows that the precious metal remains a favoured asset, with the global growth and inflation outlooks still looking rather murky,' said KCM Trade Chief Market Analyst Tim Waterer. Spot silver eased 0.6% to $32.49 an ounce, platinum fell 0.3% to $986.58 and palladium lost 1.1% to $957.42.
New Straits Times
16-05-2025
- Business
- New Straits Times
Gold set for worst week in six months as trade calm dents appeal
KUALA LUMPUR: Gold prices eased on Friday and were poised for their steepest weekly decline in six months, as a stronger dollar and waning trade war concerns dampened its appeal as a safe-haven asset. Spot gold fell 0.5 per cent to US$3,223.06 an ounce as of 0222 GMT. Bullion has lost about 3 per cent so far this week and is set for its worst weekly performance since November 2024. US gold futures shed 0.1 per cent to US$3,224.90. The dollar added 0.3 per cent for the week so far and was headed for its fourth straight week of gains, making greenback-priced gold more expensive for overseas buyers. "Gold prices faced heavy selling pressure this week as markets cheered (a) de-escalation in the US-China trade (war)," said Ilya Spivak, head of global macro at Tastylive. Earlier this week, the US and China agreed to temporarily slash the harsh tit-for-tat tariffs imposed in April. Meanwhile, data showed US producer prices fell unexpectedly in April, while retail sales growth slowed. Consumer prices rose less than expected in April, a report showed. On Thursday, Federal Reserve Governor Michael Barr said the US economy is on solid footing with inflation heading to the central bank's 2 per cent target, but trade policies have clouded the outlook. Markets are pricing in 57 basis points of rate cuts this year, with the easing projected to start in September. Gold, traditionally seen as a hedge against economic and political uncertainties, thrives in a low-rate environment. "On the plus side, gold price dips continue to attract buyers which shows that the precious metal remains a favoured asset, with the global growth and inflation outlooks still looking rather murky," said KCM Trade Chief Market Analyst Tim Waterer. Spot silver eased 0.6 per cent to US$32.49 an ounce, platinum fell 0.3 per cent to US$986.58 and palladium lost 1.1 per cent to US$957.42
