Latest news with #OANDA
Jordan News
4 days ago
- Business
- Jordan News
Gold Prices Decline as U.S. Dollar Strengthens - Jordan News
Gold prices fell on Tuesday as the U.S. dollar recovered some of its recent losses, while concerns over the U.S. fiscal outlook kept investors cautious about the trajectory of interest rates. اضافة اعلان As of 09:15 Moscow time, August gold futures (Comex) dropped by 1.25% to $3,351.90 per ounce. Meanwhile, spot gold prices declined by 0.61% to $3,323.61 per ounce, according to trading data. Kelvin Wong, Chief Market Analyst for the Asia-Pacific region at OANDA, said: 'At this stage, we are seeing some consolidation in gold prices. The market is taking a breather and waiting for the next catalyst.' He added: 'However, market participants remain concerned about the widening U.S. budget deficit, which continues to support gold prices while simultaneously weakening the dollar.' In the currency market, the U.S. dollar index—which measures the greenback against a basket of major currencies—rose by 0.07% to 99 points. (Bloomberg)
Shafaq News
4 days ago
- Business
- Shafaq News
Gold hovers near two-week high on dollar weakness, US fiscal woes
Shafaq News/ Gold hovered close to a two-week high on Tuesday, supported by a weaker dollar and concerns over the U.S. fiscal outlook, while investors awaited more U.S. economic data for more clarity on interest rate trajectory. Spot gold was little changed at $3,339.99 an ounce, as of 0228 GMT. Markets in the U.S. and London were closed on Monday for a holiday. U.S. gold futures fell 0.8% to $3,339.80. "At this point, we are seeing some consolidation in gold prices. The market is taking a breather and waiting for the next catalyst," said Kelvin Wong, a senior market analyst, Asia Pacific at OANDA. "However, market participants are concerned about the widening of that U.S. budget deficit that is a supporting factor for gold prices and that is also driving a dollar weakness as well." The dollar index. eased 0.3% to hover near one-month low against its rivals, making greenback-priced gold more attractive for other currency holders. The U.S. House of Representatives last week passed a version of Trump's tax-cut bill that is calculated to add about $3.8 trillion to the federal government's $36.2 trillion in debt over the next decade, according to the Congressional Budget Office. Meanwhile, U.S. President Donald Trump backed away from his threat to impose 50% tariffs on imports from the European Union next month, restoring a July 9 deadline to allow for talks between Washington and the 27-nation bloc to produce a deal. Investors' focus this week will also be on speeches from a slew of Federal Reserve policymakers and Friday's U.S. core Personal Consumption Expenditures price index, for interest rate clues. Fed funds futures traders see the U.S. central bank as most likely resuming rate cuts in September. Elsewhere, spot silver gained 0.1% to $33.38 per ounce, platinum was steady at $1,084.28 and palladium eased 0.3% to $984.25.
New Straits Times
4 days ago
- Business
- New Straits Times
Gold dips as dollar firms, investors eye US fiscal woes, rate signals
KUALA LUMPUR: Gold prices slipped on Tuesday as the dollar regained some lost ground, while persistent concerns over the US fiscal outlook and anticipation of key economic data kept investors cautious about the interest rate trajectory. Spot gold was down 0.50 per cent at US$3,325.99 an ounce, as of 0537 GMT. Markets in the US and London were closed on Monday for a holiday. US gold futures fell 1.20 per cent to US$3,325.70. "At this point, we are seeing some consolidation in gold prices. The market is taking a breather and waiting for the next catalyst," said Kelvin Wong, a senior market analyst, Asia Pacific at OANDA. "However, market participants are concerned about the widening of that US budget deficit that is a supporting factor for gold prices and that is also driving a dollar weakness as well." The dollar index, meanwhile, rose against its rivals after hitting a near one-month low in the previous session, making greenback-priced gold less attractive for other currency holders. The US House of Representatives last week passed a version of US President Donald Trump's tax-cut bill that is calculated to add about US$3.80 trillion to the federal government's US$36.20 trillion in debt over the next decade, according to the Congressional Budget Office. Meanwhile, Trump backed away from his threat to impose 50 per cent tariffs on imports from the European Union next month, restoring a July 9 deadline to allow for talks between Washington and the 27-nation bloc to produce a deal. Investors' focus this week will also be on speeches from a slew of Federal Reserve policymakers and Friday's US core Personal Consumption Expenditures price index, for interest rate clues. Fed funds futures traders see the US central bank as most likely resuming rate cuts in September. Elsewhere, spot silver fell 0.70 per cent to US$33.12 per ounce, platinum slipped 0.60 per cent to US$1,078.68 and palladium dropped 0.80 per cent to US$979.50.
Economy ME
4 days ago
- Business
- Economy ME
Dubai's 24-carat gold price today drops above AED394, global rates near two-week high
Gold remained close to a two-week peak on Tuesday, buoyed by a weaker dollar and apprehensions regarding the U.S. fiscal outlook, as investors looked forward to more U.S. economic data for insight into the interest rate trajectory. In Dubai, the gold price saw a decline of AED9.25, with 24-carat gold priced at AED394.5, while 22-carat gold fell to AED361.5. Additionally, 21-carat gold dropped to AED345.25, and 18-carat gold decreased to AED296.00. Spot gold showed little variation at $3,339.99 an ounce as of 02:28 GMT (currently above $3,330), with markets in the U.S. and London closed on Monday due to a holiday. U.S. gold futures decreased by 0.8 percent to $3,339.80 (currently above $3,361). 'At this point, we are seeing some consolidation in gold prices. The market is taking a breather and waiting for the next catalyst,' reported Reuters, quoting Kelvin Wong, a senior market analyst, Asia Pacific at OANDA. 'However, market participants are concerned about the widening of that U.S. budget deficit that is a supporting factor for gold prices and that is also driving a dollar weakness as well.' Read more: Dubai 24-carat gold price surpasses AED404 as global rates fall on Trump's EU tariff extension Dollar weakness boosts gold appeal The dollar index eased by 0.3 percent to hover near a one-month low against its rivals, making gold priced in dollars more appealing for holders of other currencies. Last week, the U.S. House of Representatives passed a version of Trump's tax-cut bill, projected to add approximately $3.8 trillion to the federal government's $36.2 trillion debt over the next decade, according to the Congressional Budget Office. Meanwhile, U.S. President Donald Trump retreated from his threat to impose 50 percent tariffs on imports from the European Union next month, reinstating a July 9 deadline to facilitate discussions between Washington and the 27-nation bloc for a potential agreement. This week, investors will also concentrate on speeches from various Federal Reserve policymakers and Friday's U.S. core Personal Consumption Expenditures price index for insights on interest rates. Fed funds futures traders anticipate that the U.S. central bank is most likely to resume rate cuts in September. Elsewhere, spot silver rose by 0.1 percent to $33.38 per ounce, platinum remained stable at $1,084.28, while palladium dipped by 0.3 percent to $984.25.
Emirates 24/7
4 days ago
- Business
- Emirates 24/7
Gold hovers near two-week high on dollar weakness, US fiscal woes
Gold hovered close to a two-week high on Tuesday, supported by a weaker dollar and concerns over the U.S. fiscal outlook, while investors awaited more U.S. economic data for more clarity on interest rate trajectory. Spot gold was little changed at $3,339.99 an ounce, as of 0228 GMT. Markets in the U.S. and London were closed on Monday for a holiday. U.S. gold futures fell 0.8% to $3,339.80. "At this point, we are seeing some consolidation in gold prices. The market is taking a breather and waiting for the next catalyst," said Kelvin Wong, a senior market analyst, Asia Pacific at OANDA. "However, market participants are concerned about the widening of that U.S. budget deficit that is a supporting factor for gold prices and that is also driving a dollar weakness as well." The dollar index eased 0.3% to hover near one-month low against its rivals, making greenback-priced gold more attractive for other currency holders. The U.S. House of Representatives last week passed a version of Trump's tax-cut bill that is calculated to add about $3.8 trillion to the federal government's $36.2 trillion in debt over the next decade, according to the Congressional Budget Office. Meanwhile, U.S. President Donald Trump backed away from his threat to impose 50% tariffs on imports from the European Union next month, restoring a July 9 deadline to allow for talks between Washington and the 27-nation bloc to produce a deal. Investors' focus this week will also be on speeches from a slew of Federal Reserve policymakers and Friday's U.S. core Personal Consumption Expenditures price index, for interest rate clues. Fed funds futures traders see the U.S. central bank as most likely resuming rate cuts in September. Elsewhere, spot silver gained 0.1% to $33.38 per ounce, platinum was steady at $1,084.28 and palladium eased 0.3% to $984.25. Follow Emirates 24|7 on Google News.
