Gold prices tick higher on US rate cut bets

Data on Friday showed job growth in the U.S. slowed more than expected in April, while the increase in annual wages fell below 4.0% for the first time in nearly three years.

edged up for a second session on Tuesday, after recent boosted bets that the would cut later this year.

FUNDAMENTALS

* Spot gold rose 0.2% at $2,327.11 per ounce, as of 0034 GMT. U.S. gold futures firmed 0.2% to $2,336.20.

* Traders are pricing in a 64% chance of a Fed rate cut in September, as per 's FedWatch Tool. Lower rates increase the appeal of holding non-yielding bullion.

* Data on Friday showed in the U.S. slowed more than expected in April, while the increase in annual wages fell below 4.0% for the first time in nearly three years.

* Fed Bank of New York President John Williams said on Monday that at some undefined point the U.S. central bank will lower its interest rate target.

* Investors closely monitored the latest developments in the . Palestinian militant group on Monday agreed to a Gaza ceasefire proposal from mediators, but said the terms did not meet its demands and pressed ahead with strikes in while planning to continue negotiations on a deal.

* , the world's largest gold-backed exchange-traded fund, said its holdings rose 0.21% to 832.19 tonnes on Monday from 830.47 tonnes on Friday.

* Spot fell 0.1% to $27.44 per ounce, platinum gained 0.5% to $958.90 and palladium rose 0.4% to $981.34.

* A private sector survey showed on Monday that China's services activity expansion slowed a touch, but growth in new orders accelerated and business sentiment rose solidly.

Source: Commodities-Markets-Economic Times

Последние публикации
Goldman sees upside risks for Brent near term
22.11.2024 - 15:00
COP29 climate summit draft proposes rich countries pay $250 billion per year
22.11.2024 - 14:00
US Treasury investigates JPMorgan's client ties to Iranian figure - Bloomberg
22.11.2024 - 14:00
Morning Bid: Euro/dollar stares at parity, Bitcoin eyes $100k
22.11.2024 - 13:00
COP29 climate finance draft proposes $250 billion target from wealthy countries
22.11.2024 - 13:00
Oil heads for weekly gains as Ukraine war intensifies
22.11.2024 - 12:00
COP29 host urges collaboration as deal negotiations enter final stage
22.11.2024 - 10:00
Gold prices rise, set for strong weekly gains on Russia-Ukraine jitters
22.11.2024 - 08:00
Oil heads for weekly gains on anxiety over intensifying Ukraine war
22.11.2024 - 07:00
Oil rises as intensifying Ukraine war increases supply risk
22.11.2024 - 04:00
Oil prices rise, head for weekly gain on Russia-Ukraine tensions
22.11.2024 - 04:00
Exxon group pulls out of talks with Guyana over shallow water oil block, government says
21.11.2024 - 23:00
Exxon Mobil pulls out of talks with Guyana over shallow water oil block, gov says
21.11.2024 - 22:00
EU to cajole Trump on trade while readying tariff retaliation
21.11.2024 - 18:00
New York grid operator warns of undersupply in 2033
21.11.2024 - 18:00

© Analytic DC. All Rights Reserved.

new
Анализ рынка Как повлият завтра отчет NFP на курс доллара США?