Latest news with #goldprices
Asharq Al-Awsat
a day ago
- Business
- Asharq Al-Awsat
Gold Falls, US Dollar Strengthens Ahead of Key US Inflation Data
Gold prices fell on Friday as the US dollar ticked higher and investors remained cautious ahead of key US inflation data due later in the day to gauge the Federal Reserve's monetary policy trajectory. Spot gold was down 0.7% at $3,292.28 an ounce as of 1145 GMT. Bullion is down 1.9% so far this week. US gold futures fell 0.8% to $3,290.30. The dollar rose 0.3% and was on track for a weekly gain, making gold costlier for foreign buyers. "The US dollar is up slightly, which could be a source of pressure for gold," said Carsten Menke, analyst at Julius Baer. "Barring a major surprise to the PCE data, I would not expect gold to show a meaningful reaction. That said, the market seems to be a bit more nervous as of late, suggesting that volatility should stay high in the short-term," Menke said. The Personal Consumption Expenditures (PCE) index, the Fed's preferred inflation measure, is due at 1230 GMT. The data is likely to show that inflation rose 2.2% in April, according to economists polled by Reuters, compared with a 2.3% increase in March, Reuters reported. "With US core PCE looming large, there is some hesitance to take new long positions in gold," said Tim Waterer, chief market analyst at KCM Trade. Investors are currently anticipating 50 basis points worth of Fed rate cuts by the end of this year, starting in October. Bullion, which is considered a hedge against economic and geopolitical uncertainty, tends to thrive in a low interest rate environment. Meanwhile, a federal appeals court temporarily reinstated the most sweeping of President Donald Trump's tariffs on Thursday, a day after a US trade court ruled he had exceeded his authority and ordered an immediate block. Spot silver fell 0.6% to $33.14 an ounce, platinum eased 1.2% to $1,068.80 and palladium dropped 0.6% to $967.70.
Zawya
a day ago
- Business
- Zawya
Gold falls as dollar strengthens ahead of key US inflation data
Gold prices fell on Friday as the dollar ticked up, while investors remained cautious ahead of key U.S. inflation data due later in the day to gauge the Federal Reserve's monetary policy trajectory. Spot gold was down 0.6% at $3,295.99 an ounce, as of 0841 GMT. Bullion is down 1.8% so far this week. U.S. gold futures fell 0.6% to $3,294.20. The dollar rose 0.2% against its rivals and is on track for a weekly gain, making gold costlier for foreign buyers. "The U.S. dollar is up slightly this morning, which could be a source of pressure for gold," said Carsten Menke, analyst at Julius Baer. "Barring a major surprise to the PCE data, I would not expect gold to show a meaningful reaction. That said, the market seems to be a bit more nervous as of late, suggesting that volatility should stay high in the short-term." The Personal Consumption Expenditures (PCE) index, the Fed's preferred inflation measure, is due at 1230 GMT. The data is likely to show that inflation rose 2.2% in April, according to economists polled by Reuters, compared with a 2.3% increase in March. "With U.S. core PCE looming large, there is some hesitance to take new long positions in gold," said Tim Waterer, chief market analyst at KCM Trade. Investors are currently anticipating 50 basis points worth of rate cuts by the end of this year, starting in October. Zero-yield bullion tends to do well in a low-interest rate environment. Meanwhile, a federal appeals court temporarily reinstated the most sweeping of President Donald Trump's tariffs on Thursday, a day after a U.S. trade court ruled he had exceeded his authority and ordered an immediate block. Spot silver fell 0.6% to $33.16 an ounce, platinum eased 0.8% to $1,073.80 and palladium dropped 0.4% to $969.79.
Malay Mail
a day ago
- Business
- Malay Mail
The GULU Introduces Smart Queuing Solutions to Address Long Wait Times at Chong Kee Gold Shop in Hong Kong Amid Gold Price Surge
Alleviating congestion in front of the shop: In Hong Kong's hot and humid summer weather, customers no longer need to wait outside for extended periods. They can wait for their number to be called in a shaded area, avoiding exposure to the sun and enjoying a smoother selling or buying experience. Higher operational efficiency: Staff can focus on serving customers rather than managing crowds. In addition to customers being able to enter the shop faster, this also helps reduce staff workload. Data analysis support: Ticketing machines can record the daily number of service users and peak hours, helping Chong Kee Gold Shop better understand resource allocation and quickly respond to high customer volumes due to persistently high gold prices. HONG KONG SAR - Media OutReach Newswire - 30 May 2025 - In response to the recent surge in gold prices and the resulting long queues, THE GULU is announcing its collaboration with Chong Kee Gold Shop in Central to implement an advanced queuing solution. This initiative aims to improve the management of long queues outside Chong Kee and alleviate congestion in front of the shop, ensuring faster service for customers selling or buying the end of April, Chong Kee Gold Shop faced unprecedented customer volume as gold prices surpassed $3,500 per ounce, leading many sellers to sell gold and causing long queues to form outside the store. According to multiple media reports, the shop was bustling, and the extended wait times posed challenges for both customers and GULU, with its professional queuing solutions, is providing a comprehensive queuing system that not only streamlines the waiting process but also allows Chong Kee Gold Shop customers to enjoy a smoother selling or buying experience. In addition to the ticketing machines chosen by Chong Kee Gold Shop, which allow customers to wait orderly according to system-assigned numbers without fear of missing their call, reducing on-site confusion and unnecessary wait times. THE GULU also offers smart queuing services, allowing customers to reserve their queue position through THE GULU app, reducing wait times and ensuring a more orderly flow of queuing solutions bring several benefits:said Eric, founder of THE new system has shown positive results, with customers expressing satisfaction with the reduced wait times and improved service quality. Through the digitized queuing process, Chong Kee can now manage customer flow more effectively, allowing staff to focus on providing excellent major financial institutions continue to favor gold prices and Hongkongers have a time-is-money mentality, THE GULU will strive to support businesses like Chong Kee in quickly addressing these challenges. Our queuing solutions not only help manage people flow, but as pioneers of mobile queuing, we ensure businesses benefit from operational efficiency, enhance their technological image, and customers can flexibly arrange their time and enjoy better learn more about how THE GULU can assist your business in optimizing customer flow and enhancing service efficiency, please visit to see various success stories from our clients!Use the promo code "GOLDGULU" to book a free on-site demonstration and enjoy special offers for new customers. Offers are subject to terms and "GOLDGULU" OFFER NOW: email us at [email protected] or call +852 2295 5922Hashtag: #THEGULU #queue #lineup #crowdmanagement #goldprice The issuer is solely responsible for the content of this announcement. About THE GULU THE GULU is a Hong Kong company focused on smart living and efficient queuing, a leading app that uses technology to put Hongkongers' efficiency-first mentality into practice. We focus on technology and customer service, providing innovative solutions for businesses to enhance operation efficiency and customer satisfaction.
Zawya
2 days ago
- Business
- Zawya
Gold slips as dollar ticks higher, US inflation report in focus
Gold prices fell on Friday amid a slight uptick in dollar, while investors awaited a key U.S. inflation report that may provide further insight into the Federal Reserve's policy trajectory. Spot gold was down 0.5% at $3,300.59 an ounce, as of 0313 GMT. Bullion is down 1.7% so far this week. U.S. gold futures fell 0.5% to $3,298.30. The dollar index rose 0.2%, making gold more expensive for overseas buyers. "Gold prices are more or less consolidating at this point of time... what we see is that these are normal market occurrences just at the range now is slightly wider mainly due to the confidence in the U.S. dollar," said Brian Lan, managing director at GoldSilver Central, Singapore. Investors are awaiting the April U.S. personal consumption expenditures (PCE) price index report, the Fed's preferred inflation measure, which is due at 1230 GMT. According to a Reuters poll, the U.S. PCE is expected to remain at 0.1% month-on-month, while the year-on-year figure is anticipated to be at 2.2%. San Francisco Fed President Mary Daly said on Thursday that policymakers could still reduce interest rates twice this year, but rates should remain steady for now to ensure inflation is on track to reach the central bank's 2% goal. Non-yielding bullion tends to benefit in low-interest-rate environments. Meanwhile, a federal appeals court temporarily reinstated President Donald Trump's most extensive tariffs on Thursday, following a U.S. trade court's ruling on Wednesday that Trump had overstepped his authority by imposing these duties and subsequently ordered an immediate halt. U.S. trade talks with China are "a bit stalled" and getting a deal over the finish line will likely need the direct involvement of Trump and Chinese President Xi Jinping, U.S. Treasury Secretary Scott Bessent said on Thursday. Spot silver fell 0.8% to $33.07 an ounce, platinum was steady at $1,081.93 and palladium dropped 0.3% to $970.43.
Emirates 24/7
2 days ago
- Business
- Emirates 24/7
Gold slips as dollar ticks higher, US inflation report in focus
Gold prices fell on Friday amid a slight uptick in dollar, while investors awaited a key U.S. inflation report that may provide further insight into the Federal Reserve's policy trajectory. Spot gold was down 0.5% at $3,300.59 an ounce, as of 0313 GMT. Bullion is down 1.7% so far this week. U.S. gold futures fell 0.5% to $3,298.30. The dollar index rose 0.2%, making gold more expensive for overseas buyers. "Gold prices are more or less consolidating at this point of time... what we see is that these are normal market occurrences just at the range now is slightly wider mainly due to the confidence in the U.S. dollar," said Brian Lan, managing director at GoldSilver Central, Singapore. Investors are awaiting the April U.S. personal consumption expenditures (PCE) price index report, the Fed's preferred inflation measure, which is due at 1230 GMT. According to a Reuters poll, the U.S. PCE is expected to remain at 0.1% month-on-month, while the year-on-year figure is anticipated to be at 2.2%. San Francisco Fed President Mary Daly said on Thursday that policymakers could still reduce interest rates twice this year, but rates should remain steady for now to ensure inflation is on track to reach the central bank's 2% goal. Non-yielding bullion tends to benefit in low-interest-rate environments. Meanwhile, a federal appeals court temporarily reinstated President Donald Trump's most extensive tariffs on Thursday, following a U.S. trade court's ruling on Wednesday that Trump had overstepped his authority by imposing these duties and subsequently ordered an immediate halt. U.S. trade talks with China are "a bit stalled" and getting a deal over the finish line will likely need the direct involvement of Trump and Chinese President Xi Jinping, U.S. Treasury Secretary Scott Bessent said on Thursday. Spot silver fell 0.8% to $33.07 an ounce, platinum was steady at $1,081.93 and palladium dropped 0.3% to $970.43. Follow Emirates 24|7 on Google News.
