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☆ Gold dips as markets assess Fed rate hike remarks, debt talks in focus
▼ + stars: | 2023-05-16 | by ( ) www.cnbc.com time to read: +1 min

Spot gold fell 0.2% to $2,016.72 per ounce by 0237 GMT, while U.S. gold futures were down 0.1% to $2,020.20. Gold hit $2,072.19 earlier this month, just shy of a record high of $2,072.49, after the Federal Reserve hinted that its marathon hiking cycle may be ending. However, U.S. central bankers on Monday signaled they see interest rates staying high and, if anything, going higher, given inflation that may be slow to improve and an economy showing only tentative signs of weakness. While gold is considered a hedge against inflation, rising interest rates dull the non-yielding bullion's appeal. Elsewhere, spot silver fell 0.3% to $24.04 per ounce, platinum dipped 0.1% to $1,063.66, while palladium was little changed at $1,531.60.

☆ Gold flat; set for weekly jump on hopes of Fed pause, banking woes
▼ + stars: | 2023-05-05 | by ( ) www.cnbc.com time to read: +2 min

Bars of gold are seen at the Krastsvetmet company, one of the world's largest producers of precious metals in Moscow, Russia on January 31, 2023. Gold prices were flat on Friday but are set for their biggest weekly gain in nearly two months, as hopes of a pause in the U.S. Federal Reserve's interest rate hike cycle and banking worries in the country bolstered the safe-haven metal's appeal. Spot gold was little changed at $2,050.63 per ounce as of 0349 GMT, but was up 3% for the week. Mounting risks to the U.S. economy have also supported strong investor demand into gold as they sought haven assets, ANZ said in a note. The dollar index was set for a weekly drop, making gold more attractive for overseas buyers.

☆ Gold holds tight range as traders seek direction from U.S. data
▼ + stars: | 2023-04-26 | by ( ) www.cnbc.com time to read: +2 min

Gold bars arranged at the Korea Gold Exchange store in Seoul, South Korea. Gold prices moved in a tight range on Wednesday, with recessionary fears lending some support to the safe-haven asset, while investors sought more clarity on the Federal Reserve's rate-hike trajectory from U.S. economic data due this week. Recessionary fears already seem to be providing a floor for gold prices, and "Friday's personal consumption expenditures report will likely pack the biggest punch for gold," Simpson added. Market participants expect the Fed to hike interest rates by 25 basis points. Although gold is considered a hedge against inflation and economic uncertainty, higher interest rates dim the non-yielding asset's appeal.

☆ Gold holds tight range as traders seek direction from US data
▼ + stars: | 2023-04-26 | by ( Arundhati Sarkar | ) www.reuters.com time to read: +2 min

Spot gold held its ground at $1,997.40 per ounce by 0307 GMT. Investors seemed reluctant to offload their gold holdings amid weak U.S. economic data, and "trading conditions will remain choppy, and any dips towards $1,950 could be snapped up," said Matt Simpson, a senior market analyst at City Index. Recessionary fears already seem to be providing a floor for gold prices, and "Friday's personal consumption expenditures report will likely pack the biggest punch for gold," Simpson added. Although gold is considered a hedge against inflation and economic uncertainty, higher interest rates dim the non-yielding asset's appeal. Palladium gained 1.1% to $1,499.47, on track to snap two session of losses, if gains hold.

☆ Gold prices ease with cenbank rate moves in focus
▼ + stars: | 2023-04-20 | by ( Kavya Guduru | ) www.reuters.com time to read: +2 min

Spot gold was down 0.1% at $1,992.23 per ounce, as of 0332 GMT. "Despite gold's break below $1,980 yesterday, investors were quick to snap up the quick discount and drive spot prices back above this key support level... New York Fed President John Williams said on Wednesday that inflation is still at problematic levels and the Fed will act to lower it. Rate hikes reduce non-interest bearing gold's appeal as it raises the metal's opportunity cost. Spot silver lost 0.5% at $25.12 per ounce, platinum fell 0.4% to $1,085.81 and palladium dipped 0.5% to $1,607.49.

☆ Gold prices ease with central bank rate moves in focus
▼ + stars: | 2023-04-20 | by ( ) www.cnbc.com time to read: +2 min

Gold prices inched down on Thursday, after hitting a more than two-week low in the previous session, as investors grappled with the likelihood of more interest rate hikes by central banks to contain inflationary pressures. Spot gold was down 0.1% at $1,992.23 per ounce, as of 0332 GMT. "Despite gold's break below $1,980 yesterday, investors were quick to snap up the quick discount and drive spot prices back above this key support level ... Rate hikes reduce non-interest bearing gold's appeal as it raises the metal's opportunity cost. "A slew of hawkish comments from the Fed, European Central Bank and Swiss National Bank combined with stubbornly high U.K. inflation has investors second-guessing their calls for rate cuts this year," Simpson added.

☆ Gold set for 2nd weekly gain on weak dollar, Fed pause hopes
▼ + stars: | 2023-04-14 | by ( Kavya Guduru | ) www.reuters.com time to read: +2 min

Spot gold was up 0.1% at $2,042.01 per ounce, as of 0534 GMT, hovering near a one-year high reached on Thursday. The dollar index slid to a one-year low, making bullion cheaper for buyers holding other currencies. Data this week showed the U.S. producer price index in March dropped the most since April 2020, while the consumer price index rose less than expected. Gold is considered a hedge against inflation and economic uncertainties, but higher interest rates dim non-yielding bullion's appeal. Spot silver rose 0.5% to $25.90 per ounce, hitting a one-year peak earlier, while platinum gained 0.5% at $1,051.93.

☆ Gold set for second weekly gain as weak dollar, Fed pause bets lift appeal
▼ + stars: | 2023-04-14 | by ( ) www.cnbc.com time to read: +2 min

Gold bars are displayed at a bullion merchant's, Baird & Co., in London, U.K., on Friday, March 14, 2008. Gold prices edged higher on Friday, set for a second consecutive weekly gain, as the U.S. dollar tumbled and recent economic data prompted bets that the Federal Reserve is nearing the end of its rate-hike cycle. Spot gold was up 0.2% at $2,044.09 per ounce, as of 0355 GMT, hovering near a one-year high reached on Thursday. The dollar index slid to a one-year low, making bullion cheaper for buyers holding other currencies. Gold is considered a hedge against inflation and economic uncertainties, but higher interest rates dim non-yielding bullion's appeal.

SINGAPORE/LONDON, April 12 (Reuters) - The dollar dipped on Wednesday with investors expecting U.S. inflation data out later in the day to hold some clues on how soon U.S. interest rates will peak. The U.S. inflation data for March is forecast to come in at 5.2% year-on-year, down from 6.0% previously, while core inflation likely ticked higher to 5.6%, according to a Reuters poll of economists. Inflation data "could be the difference between a 25bp hike or pause at the Fed's next meeting in May," said Matt Simpson, senior market analyst at City Index, adding that money markets could "quickly revert to reprice a policy pause" if the inflation data comes in softer than expected. A raft of Fed speakers on Tuesday offered little guidance on how much further U.S. interest rates would rise. New York Fed President John Williams said it depended on incoming data.

☆ Dollar slips ahead of US inflation data, still hits month high against yen
▼ + stars: | 2023-04-12 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

SINGAPORE, April 12 (Reuters) - The dollar dipped on Wednesday against most major currencies, with the exception of the yen, with investors expecting U.S. inflation data out later in the global day to hold some clue on how soon U.S. interest rates will peak. The U.S. inflation data for March is forecast to come in at 5.2% year-on-year, down from 6.0% previously, while core inflation likely ticked higher to 5.6%, according to a Reuters poll of economists. A raft of Fed speakers on Tuesday offered little guidance on how much further U.S. interest rates would rise. New York Fed President John Williams said it depended on incoming data. Against the yen , the dollar rose to a nearly one-month high of 134.045, a reflection of the stark contrast between the Fed's aggressive monetary policy tightening cycle and the Bank of Japan's (BOJ) ultra-loose policy.

☆ Gold gains as traders gear up for US inflation data
▼ + stars: | 2023-04-12 | by ( Kavya Guduru | ) www.reuters.com time to read: +2 min

SummarySummary Companies All eyes on CPI data due at 1230 GMTA soft inflation print could send gold above $2,032 - analystApril 12 (Reuters) - Gold prices gained on Wednesday as investors keenly await key U.S. inflation data for signs of how close interest rates are to peaking. Gold is considered an inflation hedge, but rising interest rates reduce the appeal of non-yielding bullion. Gold could continue to drift higher "as early birds place their bets on a soft inflation report," said Matt Simpson, senior market analyst at City Index. "A soft inflation print could send gold prices above $2,032 to mark a fresh YTD high, given the inverted yield curve, talks of soft growth and rise of geopolitical tensions across parts of Asia." A "weaker U.S. dollar and returning investment flows have been holding (gold) prices, ANZ said in a note.

☆ Gold gains as traders gear up for U.S. inflation data
▼ + stars: | 2023-04-12 | by ( ) www.cnbc.com time to read: +2 min

Gold prices gained on Wednesday as investors keenly await key U.S. inflation data for signs of how close interest rates are to peaking. Gold could continue to drift higher "as early birds place their bets on a soft inflation report," said Matt Simpson, senior market analyst at City Index. "A soft inflation print could send gold prices above $2,032 to mark a fresh YTD high, given the inverted yield curve, talks of soft growth and rise of geopolitical tensions across parts of Asia." Philadelphia Fed Bank President Patrick Harker on Tuesday said he feels the Fed may soon be done raising rates, while New York Fed President John Williams said the Fed's policy path will depend on incoming data. A "weaker U.S. dollar and returning investment flows have been holding (gold) prices," ANZ said in a note.

☆ Gold rises on dollar dip, banking optimism limits gains
▼ + stars: | 2023-03-29 | by ( ) www.cnbc.com time to read: +2 min

Meat bans, soaring gold prices and Britain voting to 'un–Brexit' could be on the cards for 2023, according to Saxo's Outrageous Predictions. Gold prices dropped on Wednesday as easing worries over a potential bigger fallout from the global banking crisis increased appetite for riskier assets and dampened demand for the safe-haven metal. Spot gold was trading 0.4% lower at $1,966.48 per ounce, as of 0356 GMT, after rising 1% on Tuesday. The opportunity cost of holding non-yielding gold rises when interest rates are increased to bring down inflation. Markets are pricing in a nearly 43% chance of the Fed raising interest rates by 25 basis points in May, according to the CME FedWatch tool.

☆ Gold retreats as waning banking crisis dampens demand
▼ + stars: | 2023-03-29 | by ( Kavya Guduru | ) www.reuters.com time to read: +2 min

Spot gold was trading 0.7% lower at $1,960.91 per ounce, as of 0619 GMT, after rising 1% on Tuesday. "We've seen a natural retracement ... gold is pulling back after a failed 'bid' to break above $1,975," said Matt Simpson, senior market analyst at City Index. But some investors "still seem to be holding onto gold 'just in case' there's another skeleton or two lurking in the closet," Simpson said. The opportunity cost of holding non-yielding gold rises when interest rates are increased. Silver fell 0.8% to $23.08 per ounce, platinum lost 0.7% at $956.76 and palladium edged down 0.2% to $1,416.93.

☆ Payments firm Block's Australian shares slump after Hindenburg report
▼ + stars: | 2023-03-24 | by ( Navya Mittal | ) www.reuters.com time to read: +2 min

March 24 (Reuters) - Australia-listed shares of Block Inc , led by Twitter co-founder Jack Dorsey, plunged 16.3% on Friday after Hindenburg Research alleged that the payments firm overstated its user numbers and understated its customer acquisition costs. Block, which is currently exploring a legal action against the short-seller, said the report was "factually inaccurate and misleading". Shares of the San Francisco-headquartered company led losses in Australia's benchmark ASX 200 Index (.AXJO) and hit their lowest since January 2023 at A$91.28. Block's $29 billion buyout of the Australian buy-now-pay-later firm Afterpay "was designed in a way that avoided responsible lending rules in its native Australia," the U.S. short-seller said in its report. ASX-listed Block shares plunge post Hindenburg's reportReporting by Navya Mittal in Bengaluru; Editing by Devika Syamnath and Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

☆ Gold inches higher as investors focus on Fed meeting
▼ + stars: | 2023-03-21 | by ( ) www.cnbc.com time to read: +2 min

Gold bars and coins lying in a safe on a table at the precious metal dealer Pro Aurum. Gold prices edged higher on Tuesday, with investors looking forward to the Federal Reserve policy meeting as expectations grew that the U.S. central bank would slow its monetary policy tightening given the upheaval in the banking sector. Spot gold was up 0.2% at $1,982.59 per ounce, as of 0317 GMT. U.S. gold futures also rose 0.2% to $1,986.30. Spot silver rose 0.2% to $22.57 per ounce, platinum edged down 0.2% to $986.68 and palladium eased 0.1% to $1,412.70.

☆ Gold bounces 1% as investors seek cover from US banking rout
▼ + stars: | 2023-03-13 | by ( ) www.cnbc.com time to read: +2 min

Ingots of 99.99 percent pure gold are placed in a workroom at Krastsvetmet precious metals plant in the Siberian city of Krasnoyarsk, Russia, January 31, 2023. Spot gold was up 0.8% at $1,882.70 per ounce, as of 0416 GMT. Gold rallied 2% on Friday after California banking regulators closed tech startup-focused Silicon Valley Bank (SVB) SIVB.O. Meanwhile, investors also took stock of measures by U.S. officials to stem the financial fallout, and which have been cheered by stock markets on Monday. "When it becomes apparent that the risk is contained, gold will be less appealing as a safe-haven," City Index's Simpson said.

SINGAPORE/LONDON, March 7 (Reuters) - The U.S. dollar held steady on Tuesday ahead of testimony before Congress by Federal Reserve Chair Jerome Powell, while the Aussie slid after the Reserve Bank of Australia hinted it might nearly be done with monetary tightening. Elsewhere, the euro, sterling and yen were all broadly steady with the common currency at $1.0671 , the pound at $1.20245 , and one dollar worth 135.7 yen . That meant U.S. dollar index , which measures the unit against six major rivals, was also flat at 104.3, having slipped 0.26% a day earlier. "If (he) remains cautious ... that could trigger the dollar index to fall further below the 105.00-level ahead of the release of the NFP report on Friday." Investors are also awaiting the final policy meeting for Bank of Japan Governor Haruhiko Kuroda on Thursday and Friday, when the central bank is set to stick to its ultra-loose monetary path.

☆ Dollar treads water ahead of Powell testimony; Aussie slips
▼ + stars: | 2023-03-07 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

SINGAPORE, March 7 (Reuters) - The U.S. dollar was tentative on Tuesday ahead of testimony before Congress by Federal Reserve Chair Jerome Powell, while the Aussie slid after the Reserve Bank of Australia hinted that it might nearly be done with monetary tightening. Elsewhere, the U.S. dollar index , which measures it against six major rivals, was flat at 104.24, having slipped 0.26% overnight. "We suspect he will sound noncommittal for now and take his cues from the looming upcoming key data," said Cummins, who expects the Fed to raise rates by 50 basis points. Fed funds futures traders are pricing in a 76% probability the Fed will raise rates by 25 basis points at its March meeting. OCBC currency strategist Christopher Wong said Powell's testimony will be one of the last instances of Fed officials speaking before the black-out period commences ahead of the FOMC meeting.

☆ Dollar subdued ahead of Powell testimony; Aussie slips
▼ + stars: | 2023-03-07 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

SINGAPORE, March 7 (Reuters) - The U.S. dollar was tentative on Tuesday ahead of testimony by U.S. Federal Reserve chair Jerome Powell, while the Aussie slid after the Reserve Bank of Australia raised its cash rate by 25 basis points but tempered hawkishness in its statement. Meanwhile, the U.S. dollar index , which measures it against six major rivals, fell 0.077% to 104.170, having slipped 0.26% overnight. The Japanese yen was mostly flat at 135.94 to the dollar ahead of the final policy meeting for Bank of Japan Governor Haruhiko Kuroda on Thursday and Friday. Fed funds futures traders are pricing in a 76% probability the Fed will raise rates by 25 basis points at its March meeting. They also expect interest rates to peak at 5.48% in September and still be above 5% at the end of the year.

☆ Asia-Pacific shares set to fall ahead of Reserve Bank of Australia rate decision
▼ + stars: | 2023-03-07 | by ( Lee Ying Shan | ) www.cnbc.com time to read: 1 min

The Reserve Bank of Australia is expected to hike its overnight cash rate by 25 basis points to 3.6%, according to economists surveyed by Reuters. That would mark the highest rate since June 2012, when Australia's cash rate stood at 3.75%. Matt Simpson, senior market analyst at City Index, noted the tone of the central bank's statement could determine how much further the RBA would hike rates to tame inflation. Pointing to the RBA's statement of needing further increases in rates "over the months ahead," Simpson said, "Any adjustments to the wording of this sentence could be the difference between one or two more hikes from here." "A further increase over the months ahead would suggests one more hike is to follow, with a terminal rate at 3.85%," he said.

☆ Gold rises for third day on softer dollar; rate-hike fears linger
▼ + stars: | 2023-03-01 | by ( ) www.cnbc.com time to read: +2 min

An Argor-Heraeus SA branded two hundred and fifty gram gold bar, center, sits in this arranged photograph at Solar Capital Gold Zrt. Gold edged up for a third session on Wednesday as the dollar pulled back, although fears of more U.S. interest rate hikes on the back of stubbornly high inflation kept a lid on prices. Spot gold was up 0.1% at $1,829.37 per ounce, as of 0315 GMT. "Next stop for gold could be the $1,850-$1,860 area, at which point we'll be on the lookout for another top." The dollar index ticked 0.1% lower, making bullion more affordable for buyers holding other currencies.

☆ Instant view: Incoming BOJ chief Ueda says current low rates appropriate
▼ + stars: | 2023-02-24 | by ( ) www.reuters.com time to read: +6 min

Feb 24 (Reuters) - Incoming Bank of Japan (BOJ) Governor Kazuo Ueda said on Friday it was appropriate to maintain ultra-loose monetary policy as inflation has yet to sustainably and steadily meet the central bank's 2% target. "I think he's intentionally doing that, so that the market will calm down a little bit about policy change expectations." "I don't think Ueda has the same stance as (Haruhiko) Kuroda but it is not clear whether Ueda would tweak the BOJ policy as the market expected." CHARU CHANANA, MARKET STRATEGIST, SAXO MARKETS, SINGAPORE"No surprises there, we expected Ueda to take it slow and he's starting off echoing Kuroda's views. He has been out of touch with the BOJ policy making since 2005 and will take time even if he was to consider policy normalisation at some stage."

☆ Asian markets breathe sigh of relief amid Ueda hearing
▼ + stars: | 2023-02-24 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

[1/2] The Japanese government's nominee for the Bank of Japan (BOJ) Governor Kazuo Ueda attends a hearing session at the lower house of the parliament in Tokyo, Japan, February 24, 2023. Ueda's confirmation hearing in the lower house comes as markets renew their attack on YCC, taking bets on a near-term interest rate rise. Japan's five-year government bond yield fell a little to 0.235%, from the previous close of 0.240%. The yield on the benchmark 10-year government bonds eased as far as 3.8590%, compared with the previous close of 3.8810%. The two-year bond yield was hovering at 4.6810%, compared with the previous close of 4.6930%.

☆ Gold tiptoes higher as investors focus on Fed minutes
▼ + stars: | 2023-02-22 | by ( ) www.cnbc.com time to read: +2 min

Gold prices rose marginally on Wednesday, as investors awaited minutes of the U.S. Federal Reserve's latest policy meeting to assess prospects of further interest rate hikes. Spot gold was up 0.1% at $1,835.40 per ounce, as of 0334 GMT. "Traders will be more sensitive to hawkish clues in the FOMC (Federal Open Market Committee) minutes, which could weigh on gold prices," said City Index's Simpson. "There's a greater chance of gold testing $1,800 before it tests $1,900 over the foreseeable future," given the prospects of markets repricing a higher terminal Fed rate, Simpson added. The Fed is expected to raise benchmark rates above 5% by May with a peak seen at 5.352% in July.

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