The Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
The gold market experienced limited gains today, with the most active February futures contract settling at $2,673.40, reflecting a modest gain of $7.20 or 0.27%. The market's performance was influenced by the interplay of economic indicators, Federal Reserve commentary, and shifting monetary policy expectations.
Complementing the employment data, Treasury yields demonstrated a softening trend. The US 2-year note decreased by six basis points, reaching a yield of 4.218%, while the 10-year note declined 3.8 basis points to 4.19%. These modest yield reductions provided fractional bullish support for gold prices.
Powell's notable statement highlighted the economy's robust condition:"The U.S. economy is in very good shape and there's no reason for that not to continue... the downside risks appear to be less in the labor market, growth is definitely stronger than we thought, and inflation has come in a little higher."
Looking ahead, the gold market's short-term forecast maintains a guarded perspective. Dollar strength is expected to play a crucial role in price movements, with investors closely monitoring the upcoming jobs report. Fawad Razaqzad from StoneX offers a balanced perspective, suggesting that a weaker-than-expected jobs report could renew hopes for a dovish Federal Reserve, potentially providing a lift to gold prices.
Gold Silver Platinum Palladium PGM Platinum Group Metals Metals Precious Metals Mining News Crypto News Bitcoin News Ethereum News Mining News Interviews Economic Reports Forecasts Central Banks US Dollar Charts Tech Metals Rare Earth Metals Currency Global Economy International Policy Politics Bank Forecasts Market Nugget Mining Minutes Roundups
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold prices fluctuate amid geopolitical tensions and federal reserve insightsThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »
U.S. Federal Reserve set to cut interest rates again as post-election uncertainty growsU.S. Federal Reserve officials are poised Thursday to reduce their key interest rate for a second straight time, responding to a steady slowdown of the inflation pressures that exasperated many Americans and contributed to Donald Trump’s presidential election victory.
Read more »
Federal Reserve cuts its key interest rate by a quarter-point amid postelection uncertaintyThe Federal Reserve cut its key interest rate Thursday by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump’s presidential election victory this week.
Read more »
U.S. Federal Reserve cuts its key interest rate by a quarter-point amid postelection uncertaintyThe U.S. Federal Reserve cut its key interest rate Thursday by a quarter-point in response to the steady decline in the once-high inflation that had angered Americans and helped drive Donald Trump’s presidential election victory this week.
Read more »
Federal Reserve officials signal cautious path for rate cuts amid still-high inflationWASHINGTON (AP) — With inflation still elevated, Federal Reserve officials expressed caution at their last meeting about cutting interest rates too quickly, adding to uncertainty about their next moves.
Read more »
Federal Reserve seen on shallower rate-cut path after Trump's electionThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Read more »