Gold climbed to a record high to extend a sharp rally fueled by indications the Federal Reserve will cut interest rates this year.
Bullion rose to a peak of $2,161.48 an ounce, after adding nearly 6% in the previous six sessions. A gain on Thursday would mark the longest run of daily increases since late-2021.
Federal Reserve Chair Jerome Powell said Wednesday that it will likely be appropriate to begin lower borrowing costs “at some point this year,” but said the central bank wants more confidence that inflation is moving sustainably toward 2%. Lower rates are typically positive for bullion, which doesn’t offer any interest.
Federal Reserve Chair Jerome Powell said...
The yen outperformed its Group-of-10 peers after Japan’s wage growth accelerated to the fastest clip since June, strengthening the case for the Bank of Japan to end its negative interest-rate policy in the near...
Gold held near a record high, after a sharp rally over the previous six sessions, buoyed by indications the Federal Reserve will cut interest rates this year.
Bullion rose to a peak of $2,152.25 an ounce on Wednesday, surpassing a record set...
A strong U.S. dollar will maintain the status quo in the near term, as markets brace for a risk the Federal Reserve's first interest rate cut gets delayed to the second half of this year, according to a Reuters poll of foreign exchange...
Gold is steady in the early morning Asian session, with more U.S. economic data likely needed to extend the current rally, analysts say.
Market participants probably have to watch February and March data before another move higher by the precious...
Oil held near the highest level this year as strong US gasoline demand and indications that the Federal Reserve will cut interest rates this year aided sentiment.
West Texas Intermediate traded around $79 a barrel after rising by 1.3% on...
The U.S. dollar was a touch softer on Wednesday, as traders kept their powder dry ahead of the first leg of congressional testimony from Federal Reserve Chair Jerome Powell and the European Central Bank's policy announcement on...
Oil prices ticked up slightly on Monday following the widely expected extension of voluntary output cuts by the OPEC+ producer group on Sunday.
Brent futures climbed 14 cents to $83.69 a barrel at
Gold surged close to a new record high as intensifying concerns about conflict in the Middle East pushed investors to the traditional safe haven.
Spot bullion rose as much as 1.6% before
Gauge of the dollar held near a seven-week high as investors waited for comments from Federal Reserve Chair Jerome Powell to gauge his views on the US economy. Australia’s dollar declined amid
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