Gold Heads to a losing Month Amidst Hawkish Fed Repricing & Ahead of US NFPs
XAU/USD started May with new record highs, but was forced into a correction due to the change in expectations around the Fed rate path, which boosted the US Dollar
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XAU/USD started May with new record highs, but was forced into a correction due to the change in expectations around the Fed rate path, which boosted the US Dollar
The Energy Minister of Saudi Arabia cautioned speculators on Wednesday that they could be in for some pain, in a warning that helped lift USOil
There is no deal yet for raising the debt ceiling in the US, but markets remain optimistic, which is helpful for the greenback, along with a moderation in previously more dovish expectations around the Fed’s rate path
Copper prices rose on Wednesday on hopes for a resolution to the US debt ceiling drama that helped sentiment, but it faces renewed pressure today as the situation remains uncertain and discouraging Chinese data weigh
The commodity lacks firm direction after a strong weekly start, as markets contemplate IEA’s upgraded demand outlook and below-expectations economic data from China
The commodity made a strong start to the week, but erases those gains on soft inflation data from China that cast doubts over the strength of its recovery and an increase in US stockpiles, as banking fears persist
XAU/USD set new record highs last week, as the Fed’s pause hint weighed on the greenback and steadies off those levels, as markets brace for another inflation update from the US
The commodity slumped to new year lows last week, but bounced back as demand fears ease due to the Fed’s pause hint, strong US PMI’s and jobs report, as well as China’s holiday traveling, although headwinds persist
Gold prices are being propelled towards record highs by three key factors: economic uncertainty, falling bond yields, and a weaker US dollar. This year, central bank buying has further fuelled the rally. The flight to safety among investors has also contributed to increased demand for gold. Other precious metals, such as silver, have rallied even more recently. Falling bond yields, a weaker US dollar, and other signs of a softening…
The US Fed hiked rates again on Wednesday, but opened the door to a hold, helping Copper prices, as markets digest prospect of economic slowdown
The commodity halted its recent relief-rally with its first losing week since the failure of the Silicon Valley Bank and the ensuing banking turmoil, breaching key technical levels
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