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Gold prices rose on Monday, and hovered near a record peak hit in the previous session, as remarks from Federal Reserve Chair Jerome Powell and U.S. economic data last week cemented hopes for a rate cut in June. FUNDAMENTALS * Spot gold edged 0.2% higher to $2,181.27 per ounce, as of 0134 GMT, not too

UPCOMING EVENTS: Tuesday: Japan PPI, UK Labour Market report, US NFIB Small Business Optimism Index, US CPI. Wednesday: UK GDP, UK Industrial Production, Eurozone Industrial Production. Thursday: US PPI, US Retail Sales, US Jobless Claims, New Zealand Manufacturing PMI. Friday: US Industrial Production, US University of Michigan Consumer Sentiment Survey, PBoC MLF. Tuesday The UK

Gold prices on Friday were on track for their biggest weekly jump in five months, hovering near a record peak, as Federal Reserve Chair Jerome Powell‘s comments reinforced investor hopes for a first U.S. rate cut in June. FUNDAMENTALS * Spot gold was steady at $2,159.49 per ounce, as of 0120 GMT, hovering around a

A year ago today marks are dark day for one banking equity analyst at JPMorgan. The topic was Silicon Valley Bank, the once high-flying bank that catered to tech startups. It often lent founders huge sums at rates as low as zero per cent so long as they parent company continued to do business with

gold. It not only glitters when used as an ornament but also extends its charm to strengthen the portfolio of an investor. Since this Valentine’s Day, the bullion has risen by almost 4.9%, breaking the previous highs of US$ 2065.6 per ounce, and is gearing up for a further up move. Despite such a move,

Markets: Gold up $18 to $2177 US 10-year yields down 1.3 bps to 4.08% WTI crude oil down $1.07 to $77.86 S&P 500 down 33 points, or 0.6%, to 5123 JPY leads, CAD lags I’m always leery of a pre-NFP front run and today is an example of why. The US dollar was soft and

Spot gold extended its stunning rally to the eighth day on Friday as the US nonfarm payroll report of February was weaker than expected. The metal rose to a fresh record high as it hit $2195 before closing with a gain of 0.89% at $2179. It posted a whooping weekly gain of 4.60%. The US

Dollar and Yen had contrasting fortune last week, responding to divergent central bank expectations. Dollar found itself as the week’s worst performer, a reflection of solidified expectations for Fed’s first rate cut in June, reinforced by Fed Chair Jerome Powell’s semiannual testimony. The cooling job US market is seen as unlikely to stand in the

Consumer price inflation data from China for February 2024 shows an exit from deflation CPI +0.7% y/y expected +0.3%, prior -0.8% (that -0.8% in January was the sharpest the steepest fall in more than 14 years) for the m/m, comes in at +1.0% (prior +0.3%) first rise in the CPI since August of 2023 PPI

Gold prices surged to a fresh record high on Friday as data showing a rise in the U.S. unemployment rate boosted expectations that the Federal Reserve could begin cutting interest rates soon. Spot gold rose 0.7% to $2,173.49 per ounce by 10:42 a.m. ET (1542 GMT), while U.S. gold futures added 0.7% to $2,180.50. Bullion

Dollar is continuing its streak as the weakest performer for the week, amid a global surge in risk appetite. Major stock indices around the world, including S&P 500, NASDAQ, DAX, and CAC, have notched new record highs overnight. This wave of optimism has seamlessly transitioned into Asian session today. Investors have been absorbing the latest

The US dollar is at the lows of the week following the February non-farm payrolls report. The headline number was strong at +275K compared to +200K but underneath were some soft details. For starters, the prior two reports were revised collectively lower by 167,000 jobs, leaving total jobs lower than anticipated. The household survey also

A near Rs 3,000 per 10 grams surge in Gold over the last six to seven sessions and back-to-back lifetime highs has brought its mojo back after a lackluster February. Moreover, its one-year returns stand at an impressive 17.63%. But have gold mutual funds that track yellow metal prices performed with equal zeal? Here is

Dollar’s decline accelerated in the early US session, triggered by disappointing non-farm payroll data. Despite a seemingly robust headline job growth figure for February, the substantial downward revision of January’s numbers cast a shadow, marking the overall report as a miss. Moreover, the unemployment rate’s unexpected jump and the below-forecast earnings growth further dented investor

The US switches to daylight savings time at 2 am on Sunday, March 10. Clocks in the US will go forward one hour. What this means for those of us outside the US is we may (probably will) need to adjust starting and finishing times locally. For example, for those of us in Australia, taking

Oil prices slipped on Thursday as expectations that U.S. interest rate cuts could be delayed capped gains, though upbeat Chinese trade data augured well for demand in the world’s top oil importer. Brent crude futures were down 58 cents or 0.7% to $82.38 a barrel by 1417 GMT, while U.S. West Texas Intermediate crude futures

Euro dips notably following ECB’s decision to maintain interest rates unchanged, coupled with downward revision in its inflation forecast. Specifically, ECB now anticipates that headline inflation will return to its target by 2025 and drop below 2% in 2026. However, the common currency found some footing during President Christine Lagarde’s press conference. Lagarde highlighted ECB’s

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