Gold futures in New York held steady on Monday as markets awaited a formal clarification from the White House over its tariff policy, after a surprise US ruling last week rattled the bullion trade. According to Bloomberg, a US government agency stunned traders by formally ruling that 100-ounce and one-kilogram gold bars would be subject to import duties, a move that sent futures prices surging to a record on Friday before erasing most of those gains. The administration later told Bloomberg it would issue a statement to address what it called “misinformation” about duties on gold and other specialty products.<h2>Price gap between New York and London narrows</h2>On Monday, futures were trading about $65 an ounce above the global spot benchmark, with the premium narrowing to under $60 after briefly topping $100 last week. The sudden spike in the gap between New York and London trading hubs highlighted how sensitive global bullion flows are to US trade policy.&nbsp;Washington had exempted gold from tariffs back in April, and traders say the uncertainty over whether that exemption still stands is keeping the market on edge. Analysts warn that any prolonged ambiguity could disrupt the smooth functioning of US gold futures contracts.<h2>Industry calls for stability</h2>As quoted by Bloomberg, Joseph Cavatoni, senior market strategist for North America at the World Gold Council, said the gold market was “behaving in an orderly manner” while awaiting clarity, adding that the Council would continue monitoring developments and update its research once more information is available.&nbsp;The precious metal has gained nearly 30 per cent so far this year, with most of the rally occurring in the first four months as geopolitical tensions and trade disputes boosted demand for safe-haven assets. Prices ended Friday within about $100 of April’s all-time high.<h2>Eyes on US inflation data</h2>Traders are also looking to Tuesday’s US inflation print for fresh cues on interest rate policy. Bloomberg reports that economists expect core consumer prices, excluding food and energy to have risen 0.3 per cent in July, up from 0.2 per cent in June.&nbsp;The Federal Reserve has resisted President Donald Trump’s calls to ease monetary policy, balancing concerns over a cooling job market with the challenge of still-elevated inflation. Lower interest rates typically benefit gold, which does not yield interest.Spot gold eased 0.1 per cent to $3,394.13 an ounce in Singapore trade at 7:46 a.m., while the Bloomberg Dollar Spot Index slipped 0.1 per cent.Silver fell, while platinum saw slight gains.&nbsp;(With inputs from the agencies)

The price gap between New York and London narrowed, with futures trading about $65 an ounce above the spot benchmark. Analysts urge for clarity, as uncertainty disrupts market stability. Traders look forward to US inflation data for cues on interest rate policy.

Gold futures in New York held steady on Monday as markets awaited a formal clarification from the White House over its tariff policy, after a surprise US ruling last week rattled the bullion trade. According to Bloomberg, a US government agency stunned traders by formally ruling that 100-ounce and one-kilogram gold bars would be subject to import duties, a move that sent futures prices surging to a record on Friday before erasing most of those gains. The administration later told Bloomberg it would issue a statement to address what it called “misinformation” about duties on gold and other specialty products. Price gap between New York and London narrows On Monday, futures were trading about $65 an ounce above the global spot benchmark, with the premium narrowing to under $60 after briefly topping $100 last week. The sudden spike in the gap between New York and London trading hubs highlighted how sensitive global bullion flows are to US trade policy. Washington had exempted gold from tariffs back in April, and traders say the uncertainty over whether that exemption still stands is keeping the market on edge. Analysts warn that any prolonged ambiguity could disrupt the smooth functioning of US gold futures contracts. Industry calls for stability As quoted by Bloomberg, Joseph Cavatoni, senior market strategist for North America at the World Gold Council, said the gold market was “behaving in an orderly manner” while awaiting clarity, adding that the Council would continue monitoring developments and update its research once more information is available. The precious metal has gained nearly 30 per cent so far this year, with most of the rally occurring in the first four months as geopolitical tensions and trade disputes boosted demand for safe-haven assets. Prices ended Friday within about $100 of April’s all-time high. Eyes on US inflation data Traders are also looking to Tuesday’s US inflation print for fresh cues on interest rate policy. Bloomberg reports that economists expect core consumer prices, excluding food and energy to have risen 0.3 per cent in July, up from 0.2 per cent in June. The Federal Reserve has resisted President Donald Trump’s calls to ease monetary policy, balancing concerns over a cooling job market with the challenge of still-elevated inflation. Lower interest rates typically benefit gold, which does not yield interest. Spot gold eased 0.1 per cent to $3,394.13 an ounce in Singapore trade at 7:46 a.m., while the Bloomberg Dollar Spot Index slipped 0.1 per cent.Silver fell, while platinum saw slight gains. (With inputs from the agencies)

Gold futures in New York remained steady as markets awaited clarification from the White House on tariff policies following a surprising ruling that imposed import duties on certain gold bars.

Gold market holds steady as traders await US tariff clarity

On Friday, Gold prices edged higher as global markets digested US President Donald Trump’s sweeping new tariffs on trading partners, even as the precious metal remained on course for a weekly loss. Spot gold rose 0.1 per cent to $3,291.46 an ounce by 7:45 a.m. in Singapore, as per Bloomberg. The slight uptick comes after bullion ended the previous session 0.5 per cent higher, though prices are still down about 1.4 per cent for the week. The metal’s gains came after the White House unveiled final tariff rates, a key piece of Trump’s protectionist agenda. As per Bloomberg, the US will enforce a minimum global tariff of 10 per cent, while imports from countries running trade surpluses with the US will face tariffs of 15 per cent or higher, starting August 1.<h2>Trade war fear keeps the yellow metal demand alive</h2>While the market reaction to Trump’s announcement was relatively muted, the broader theme of trade conflict and economic uncertainty continues to support gold’s appeal as a safe haven. Gold has reportedly surged nearly 25 per cent this year, hitting a record above $3,500 an ounce in April, largely driven by fears of a global trade war, persistent geopolitical risks, and central bank buying.&nbsp;“Trump’s tariff agenda and concerns about a global trade war have been a major catalyst for gold’s surge,” Bloomberg noted. However, the momentum has slowed in recent months. Despite frequent tariff threats and ongoing geopolitical tensions, gold has traded within a tight range, as investors appear to have grown more accustomed to the noise of trade disputes.<h2>Dollar strength a key headwind</h2>Another factor capping gold’s upside is a resurgent US dollar. As per Bloomberg, the Bloomberg Dollar Spot Index closed out its best month of 2025 in July, making dollar-priced gold more expensive for buyers using other currencies.&nbsp;The stronger dollar, combined with expectations of delayed interest rate cuts by the Federal Reserve, has created a challenging environment for gold bulls. The Fed has hinted it may not ease policy until at least October, especially with tariffs likely to keep US inflation elevated.<h2>Eyes on US job data</h2>Looking ahead, all eyes are on Friday’s US non-farm payrolls report for July, expected to show a slowdown in job growth and a potential rise in the unemployment rate. Any sign of labour market weakness could boost expectations for Fed easing and potentially support gold.&nbsp;Meanwhile, silver held steady, while platinum and palladium posted modest gains in early Friday trade, according to Bloomberg data. For now, gold remains in a wait-and-watch mode as it has been caught between the push of haven demand and the pull of a strong dollar.(With inputs from the agencies)

The tariffs, effective August 1, include a 10% minimum global rate and higher tariffs for surplus countries. Gold’s appeal as a safe haven persists due to ongoing trade war fears, while a strong dollar and delayed Fed rate cuts pose challenges.

On Friday, Gold prices edged higher as global markets digested US President Donald Trump’s sweeping new tariffs on trading partners, even as the precious metal remained on course for a weekly loss. Spot gold rose 0.1 per cent to $3,291.46 an ounce by 7:45 a.m. in Singapore, as per Bloomberg. The slight uptick comes after bullion ended the previous session 0.5 per cent higher, though prices are still down about 1.4 per cent for the week. The metal’s gains came after the White House unveiled final tariff rates, a key piece of Trump’s protectionist agenda. As per Bloomberg, the US will enforce a minimum global tariff of 10 per cent, while imports from countries running trade surpluses with the US will face tariffs of 15 per cent or higher, starting August 1. Trade war fear keeps the yellow metal demand alive While the market reaction to Trump’s announcement was relatively muted, the broader theme of trade conflict and economic uncertainty continues to support gold’s appeal as a safe haven. Gold has reportedly surged nearly 25 per cent this year, hitting a record above $3,500 an ounce in April, largely driven by fears of a global trade war, persistent geopolitical risks, and central bank buying. “Trump’s tariff agenda and concerns about a global trade war have been a major catalyst for gold’s surge,” Bloomberg noted. However, the momentum has slowed in recent months. Despite frequent tariff threats and ongoing geopolitical tensions, gold has traded within a tight range, as investors appear to have grown more accustomed to the noise of trade disputes. Dollar strength a key headwind Another factor capping gold’s upside is a resurgent US dollar. As per Bloomberg, the Bloomberg Dollar Spot Index closed out its best month of 2025 in July, making dollar-priced gold more expensive for buyers using other currencies. The stronger dollar, combined with expectations of delayed interest rate cuts by the Federal Reserve, has created a challenging environment for gold bulls. The Fed has hinted it may not ease policy until at least October, especially with tariffs likely to keep US inflation elevated. Eyes on US job data Looking ahead, all eyes are on Friday’s US non-farm payrolls report for July, expected to show a slowdown in job growth and a potential rise in the unemployment rate. Any sign of labour market weakness could boost expectations for Fed easing and potentially support gold. Meanwhile, silver held steady, while platinum and palladium posted modest gains in early Friday trade, according to Bloomberg data. For now, gold remains in a wait-and-watch mode as it has been caught between the push of haven demand and the pull of a strong dollar. (With inputs from the agencies)

Gold prices rose slightly by 0.1% to $3,291.46 per ounce amid the market's reaction to President Trump's new tariffs but are down 1.4% for the week.

Gold gains slightly as Trump’s tariff rollout keeps markets cautious

On Monday, gold prices held steady after slipping last week, as the newly signed US–EU trade deal reduced market uncertainty and dampened demand for traditional safe-haven assets like bullion. According to Bloomberg, spot gold was down 0.1 per cent at $3,332.67 an ounce by early Asian trading hours, after logging a 0.4 per cent weekly loss. Investors are recalibrating their positions following the transatlantic tariff agreement, which imposes 15 per cent levies on most EU exports, including cars and pharmaceuticals.&nbsp;The gold market has soared this year, up more than 25 per cent so far, which was majorly driven by geopolitical tensions in Ukraine and the West Asia, and fears of a global trade breakdown during Donald Trump’s second term as US President. But the breakthrough deal with Europe, and expectations of a US–China tariff truce extension, are now easing some of that anxiety. “While the US–EU pact avoids an immediate escalation, questions remain about implementation, especially on sensitive sectors like pharma and metals,” analysts noted, according to Bloomberg.<h2>Focus shifts to Fed and China talks</h2>The South China Morning Post reported that US–China negotiators may extend their tariff pause by another three months, with fresh talks kicking off in Stockholm on Monday. That adds to broader market optimism and shifts focus away from defensive plays like gold.&nbsp;At the same time, investors are bracing for a pivotal week of economic data and Federal Reserve commentary, which could signal the direction of interest rates. While the Fed is widely expected to hold rates steady, traders will be watching for any dovish tilt, as lower rates tend to boost non-yielding assets like gold.<h2>Market positioning still bullish</h2>Despite recent softness, sentiment around gold remains resilient. The latest data from the Commodity Futures Trading Commission (CFTC) shows that money managers have raised their bullish bets on gold to the highest in 16 weeks. Meanwhile, silver was little changed, while platinum and palladium posted modest gains. The Bloomberg Dollar Spot Index also dipped 0.1 per cent, offering slight support to commodities priced in dollars.&nbsp;Gold had spiked to an all-time high above $3,500 an ounce in April, amid peak fears over escalating conflicts and protectionist trade policies. While those risks have cooled slightly, the yellow metal remains a key barometer of global uncertainty — and markets aren’t letting their guard down just yet.&nbsp;(With inputs from the agencies)

With gold up over 25% this year due to geopolitical tensions, recent agreements ease investor anxiety. Traders anticipate Federal Reserve commentary this week, while bullish sentiment persists despite the market recent softness. Silver stayed stable, while platinum and palladium gained modestly.

On Monday, gold prices held steady after slipping last week, as the newly signed US–EU trade deal reduced market uncertainty and dampened demand for traditional safe-haven assets like bullion. According to Bloomberg, spot gold was down 0.1 per cent at $3,332.67 an ounce by early Asian trading hours, after logging a 0.4 per cent weekly loss. Investors are recalibrating their positions following the transatlantic tariff agreement, which imposes 15 per cent levies on most EU exports, including cars and pharmaceuticals. The gold market has soared this year, up more than 25 per cent so far, which was majorly driven by geopolitical tensions in Ukraine and the West Asia, and fears of a global trade breakdown during Donald Trump’s second term as US President. But the breakthrough deal with Europe, and expectations of a US–China tariff truce extension, are now easing some of that anxiety. “While the US–EU pact avoids an immediate escalation, questions remain about implementation, especially on sensitive sectors like pharma and metals,” analysts noted, according to Bloomberg. Focus shifts to Fed and China talks The South China Morning Post reported that US–China negotiators may extend their tariff pause by another three months, with fresh talks kicking off in Stockholm on Monday. That adds to broader market optimism and shifts focus away from defensive plays like gold. At the same time, investors are bracing for a pivotal week of economic data and Federal Reserve commentary, which could signal the direction of interest rates. While the Fed is widely expected to hold rates steady, traders will be watching for any dovish tilt, as lower rates tend to boost non-yielding assets like gold. Market positioning still bullish Despite recent softness, sentiment around gold remains resilient. The latest data from the Commodity Futures Trading Commission (CFTC) shows that money managers have raised their bullish bets on gold to the highest in 16 weeks. Meanwhile, silver was little changed, while platinum and palladium posted modest gains. The Bloomberg Dollar Spot Index also dipped 0.1 per cent, offering slight support to commodities priced in dollars. Gold had spiked to an all-time high above $3,500 an ounce in April, amid peak fears over escalating conflicts and protectionist trade policies. While those risks have cooled slightly, the yellow metal remains a key barometer of global uncertainty — and markets aren’t letting their guard down just yet. (With inputs from the agencies)

Gold prices remained steady after last week's decline, trading at $3,332.67 per ounce amidst reduced market uncertainty from the US–EU trade deal.

Gold eases as US–EU trade deal tempers haven demand

Easing geopolitical uncertainty and signs of progress in US-led trade negotiations reduced investor demand for safe-haven assets. On Thursday, gold prices steadied after a sharp decline. Amid optimism surrounding US trade deals with Japan and potentially the European Union, the metal had dropped 1.3 per cent in the previous session.&nbsp;&nbsp;Meanwhile, spot gold hovered near $3,389.77 an ounce at 8:24 a.m. in Singapore, up 0.1 per cent on the day, as per Bloomberg. Meanwhile, the Bloomberg Dollar Spot Index remained steady, though the dollar has fallen more than 1 per cent this week, providing some support to non-yielding assets like gold.<h2>Trade deals impact on gold’s shine</h2>Gold’s retreat comes after Bloomberg News reported that the European Union may be ready to accept a 15 per cent US tariff on most of its goods. This follows a similar deal with Japan, which included a $550 billion investment commitment into the US economy. The agreements are being viewed as diplomatic victories for President Donald Trump’s administration and a step toward stabilising global trade relations.&nbsp;“Progress in talks between the US and key trading partners hurt demand for haven assets,” Bloomberg noted in its report. The market is also digesting Trump’s warnings of additional tariffs, between 15 and 50 per cent, on countries such as South Korea and India, should they fail to reach trade deals before the August 1 deadline. While these threats cast some shadow, the broader tone remains optimistic, dampening the flight to safety that has boosted gold prices for much of the year.<h2>Yields rise, gold loses appeal</h2>Following the trade development, US Treasury yields rose for the first time in six days, further weighing on bullion. Since gold does not generate interest, it typically underperforms when yields rise, as investors shift to income-generating assets.&nbsp;Meanwhile, traders are closely watching the Federal Reserve’s July policy meeting. According to Bloomberg, money markets currently expect the Fed to keep interest rates steady next week, though a rate cut remains likely before October. There’s a 60 per cent probability of a quarter-point reduction at the September meeting. Lower rates typically support gold, as they reduce the opportunity cost of holding the metal, as per Bloomberg.<h2>Bullion rally may be cooling</h2>Gold prices have surged nearly 30 per cent so far in 2025, fuelled by global trade tensions, Russia’s invasion of Ukraine, and West Asia instability. The metal hit an all-time high of over $3,500 an ounce in April but has since been trading within a narrow band as markets await clearer signals on monetary policy and geopolitics.&nbsp;Still, the recent pullback may indicate that bullish momentum is starting to wane in the absence of fresh catalysts.<h2>Silver and other metals diverge</h2>While gold remained range-bound, silver continued to attract interest, especially from industrial buyers. The white metal steadied after briefly touching its highest level since 2011 earlier this week. According to Bloomberg, its demand is surging due to its widespread use in clean-energy technologies, including solar panels.&nbsp;Moreover, silver’s borrowing costs have risen above historical norms, signalling a supply squeeze. Growing holdings in exchange-traded funds have also reduced the amount of freely available metal in the market. Elsewhere, platinum prices rose modestly, while palladium extended losses.&nbsp;&nbsp;(With inputs from the agencies)&nbsp;

Gold prices have surged nearly 30 per cent so far in 2025, fuelled by global trade tensions, Russia invasion of Ukraine, and West Asia instability. The metal hit an all time high of over $3,500 an ounce in April. 

Easing geopolitical uncertainty and signs of progress in US-led trade negotiations reduced investor demand for safe-haven assets. On Thursday, gold prices steadied after a sharp decline. Amid optimism surrounding US trade deals with Japan and potentially the European Union, the metal had dropped 1.3 per cent in the previous session. Meanwhile, spot gold hovered near $3,389.77 an ounce at 8:24 a.m. in Singapore, up 0.1 per cent on the day, as per Bloomberg. Meanwhile, the Bloomberg Dollar Spot Index remained steady, though the dollar has fallen more than 1 per cent this week, providing some support to non-yielding assets like gold. Trade deals impact on gold’s shine Gold’s retreat comes after Bloomberg News reported that the European Union may be ready to accept a 15 per cent US tariff on most of its goods. This follows a similar deal with Japan, which included a $550 billion investment commitment into the US economy. The agreements are being viewed as diplomatic victories for President Donald Trump’s administration and a step toward stabilising global trade relations. “Progress in talks between the US and key trading partners hurt demand for haven assets,” Bloomberg noted in its report. The market is also digesting Trump’s warnings of additional tariffs, between 15 and 50 per cent, on countries such as South Korea and India, should they fail to reach trade deals before the August 1 deadline. While these threats cast some shadow, the broader tone remains optimistic, dampening the flight to safety that has boosted gold prices for much of the year. Yields rise, gold loses appeal Following the trade development, US Treasury yields rose for the first time in six days, further weighing on bullion. Since gold does not generate interest, it typically underperforms when yields rise, as investors shift to income-generating assets. Meanwhile, traders are closely watching the Federal Reserve’s July policy meeting. According to Bloomberg, money markets currently expect the Fed to keep interest rates steady next week, though a rate cut remains likely before October. There’s a 60 per cent probability of a quarter-point reduction at the September meeting. Lower rates typically support gold, as they reduce the opportunity cost of holding the metal, as per Bloomberg. Bullion rally may be cooling Gold prices have surged nearly 30 per cent so far in 2025, fuelled by global trade tensions, Russia’s invasion of Ukraine, and West Asia instability. The metal hit an all-time high of over $3,500 an ounce in April but has since been trading within a narrow band as markets await clearer signals on monetary policy and geopolitics. Still, the recent pullback may indicate that bullish momentum is starting to wane in the absence of fresh catalysts. Silver and other metals diverge While gold remained range-bound, silver continued to attract interest, especially from industrial buyers. The white metal steadied after briefly touching its highest level since 2011 earlier this week. According to Bloomberg, its demand is surging due to its widespread use in clean-energy technologies, including solar panels. Moreover, silver’s borrowing costs have risen above historical norms, signalling a supply squeeze. Growing holdings in exchange-traded funds have also reduced the amount of freely available metal in the market. Elsewhere, platinum prices rose modestly, while palladium extended losses. (With inputs from the agencies)

Precious metal stabilises after steep drop, as progress on US-EU and Japan trade deals lifts yields and weakens safe-haven appeal.

Gold price steadies as US trade deals dent safe-haven demand

On Monday, Gold prices held ground as investors weighed dovish signals from the US Federal Reserve and the looming August 1 trade deadline set by President Donald Trump. The precious metal hovered near the $3,350 per ounce mark, amid markets jittery over tariff escalation and interest rate moves,&nbsp;As per Reuters, spot gold was flat at $3,352.19 per ounce at 0250 GMT, while US gold futures held at $3,358.70. Traders are awaiting the Fed’s policy meeting next week as fresh rate cut cues may emerge, particularly as inflation remains uncertain under the current US trade strategy. “The dollar has made a subdued start to the week, which has left the door open for gold to post gains early doors with tariff deadlines looming large,” said Tim Waterer, Chief Market Analyst at KCM Trade, to Reuters. Waterer added that if no new deals emerge before the August 1 deadline, gold could aim for a renewed rally towards $3,400 or beyond.<h2>Trump’s tariff and Powell succession in focus</h2>The gold market has also been driven by diverging views within the Fed. Governor Christopher Waller last week backed a rate cut, echoing a dovish stance, as per Bloomberg. His colleague Michelle Bowman is also open to a reduction, though some policymakers reportedly remain cautious, fearing that Trump’s tariffs could trigger persistent inflation.&nbsp;The Fed’s internal split coincides with growing pressure from President Trump. As the US President is reportedly weighing candidates to replace Fed Chair Jerome Powell when his term ends in May. As per Bloomberg, the White House has dismissed a Wall Street Journal report suggesting Treasury Secretary Scott Bessent warned Trump of adverse market reactions if Powell was removed.&nbsp;Gold tends to benefit from lower interest rates, as it does not yield interest and becomes more attractive relative to bonds in a low-rate environment.<h2>Trade talks and geopolitical tensions add to uncertainty</h2>On the trade front, investors are keeping an eye on the negotiations between the US and the European Union closely. US Commerce Secretary Howard Lutnick has remained optimistic about a deal with Brussels. Meanwhile, Reuters reported that Trump may visit China ahead of the Asia-Pacific Economic Cooperation (APEC) summit later this year, or meet Xi Jinping on its sidelines.&nbsp;In Asia, geopolitical jitters have risen after Japan’s ruling coalition lost control of the upper house in Sunday’s election, weakening Prime Minister Shigeru Ishiba’s domestic standing ahead of Trump’s trade ultimatum.<h2>Precious metals remain range-bound</h2>According to Reuters, gold has gained over 25 per cent this year, bolstered by central bank dovishness, US trade tensions, and safe-haven demand. Yet, price action remains within a narrow band as traders wait for clarity.&nbsp;As of 0854 AM in Singapore, Bloomberg reported that spot gold was up slightly at $3,353.80 per ounce, while the Bloomberg Dollar Spot Index fell 0.1 per cent.&nbsp;Silver inched up 0.1% to $38.22, platinum rose 0.3% to $1,425.11, and palladium gained 0.2% to $1,243.47, as per Reuters. (With inputs from the agencies)

Analysts note that dovish Fed signals may support gold, amid tariff concerns. Various Fed members are split on rate cuts, and geopolitical tensions persist, particularly following Japan recent election. Gold has gained over 25% this year but remains within a narrow price range.

On Monday, Gold prices held ground as investors weighed dovish signals from the US Federal Reserve and the looming August 1 trade deadline set by President Donald Trump. The precious metal hovered near the $3,350 per ounce mark, amid markets jittery over tariff escalation and interest rate moves, As per Reuters, spot gold was flat at $3,352.19 per ounce at 0250 GMT, while US gold futures held at $3,358.70. Traders are awaiting the Fed’s policy meeting next week as fresh rate cut cues may emerge, particularly as inflation remains uncertain under the current US trade strategy. “The dollar has made a subdued start to the week, which has left the door open for gold to post gains early doors with tariff deadlines looming large,” said Tim Waterer, Chief Market Analyst at KCM Trade, to Reuters. Waterer added that if no new deals emerge before the August 1 deadline, gold could aim for a renewed rally towards $3,400 or beyond. Trump’s tariff and Powell succession in focus The gold market has also been driven by diverging views within the Fed. Governor Christopher Waller last week backed a rate cut, echoing a dovish stance, as per Bloomberg. His colleague Michelle Bowman is also open to a reduction, though some policymakers reportedly remain cautious, fearing that Trump’s tariffs could trigger persistent inflation. The Fed’s internal split coincides with growing pressure from President Trump. As the US President is reportedly weighing candidates to replace Fed Chair Jerome Powell when his term ends in May. As per Bloomberg, the White House has dismissed a Wall Street Journal report suggesting Treasury Secretary Scott Bessent warned Trump of adverse market reactions if Powell was removed. Gold tends to benefit from lower interest rates, as it does not yield interest and becomes more attractive relative to bonds in a low-rate environment. Trade talks and geopolitical tensions add to uncertainty On the trade front, investors are keeping an eye on the negotiations between the US and the European Union closely. US Commerce Secretary Howard Lutnick has remained optimistic about a deal with Brussels. Meanwhile, Reuters reported that Trump may visit China ahead of the Asia-Pacific Economic Cooperation (APEC) summit later this year, or meet Xi Jinping on its sidelines. In Asia, geopolitical jitters have risen after Japan’s ruling coalition lost control of the upper house in Sunday’s election, weakening Prime Minister Shigeru Ishiba’s domestic standing ahead of Trump’s trade ultimatum. Precious metals remain range-bound According to Reuters, gold has gained over 25 per cent this year, bolstered by central bank dovishness, US trade tensions, and safe-haven demand. Yet, price action remains within a narrow band as traders wait for clarity. As of 0854 AM in Singapore, Bloomberg reported that spot gold was up slightly at $3,353.80 per ounce, while the Bloomberg Dollar Spot Index fell 0.1 per cent. Silver inched up 0.1% to $38.22, platinum rose 0.3% to $1,425.11, and palladium gained 0.2% to $1,243.47, as per Reuters. (With inputs from the agencies)

Gold steadies near $3,350 as markets eye Federal Reserve rate cuts and President Trump’s tariff August deadline.

Gold prices remain steady as markets await Fed, US trade moves

Gold prices rose on Tuesday as investors sought safe-haven assets amid mounting global trade tensions, while markets looked ahead to key US inflation data that could shape the Federal Reserve’s next interest rate move. Spot gold climbed 0.5 per cent to $3,359.01 per ounce as of 0635 GMT, while US gold futures gained 0.3 per cent to $3,368.20, according to Reuters.&nbsp;The precious metal’s steady rise underscores its traditional role as a hedge during geopolitical and trade-related uncertainty, with market watchers closely tracking President Donald Trump’s escalating tariff threats against major trading partners.<h2>Tariff tensions drive safe-haven demand</h2>US President Trump on Saturday threatened to impose a 30 per cent tariff on imports from Mexico and the European Union from August 1 if no trade deal is reached, intensifying fears of a fresh trade war that could dent global economic growth.&nbsp;Tim Waterer, Chief Market Analyst at KCM Trade, told Reuters that, “Gold has shown in the past that it is an asset of choice when tariff tensions are ratcheted up, and the precious metal’s move towards $3,350 is evidence of this pattern playing out again”. However, Waterer also cautioned that higher US Treasury yields, and a stronger dollar were creating headwinds for further gains, suggesting gold would need a retreat in yields or the dollar to break decisively towards $3,400.<h2>Inflation data in focus</h2>Investor attention is now squarely on the release of June’s US Consumer Price Index (CPI) data due later on Tuesday. A Reuters poll of economists expects annual headline inflation to have risen to 2.7 per cent in June, up from 2.4 per cent in May. Core inflation, which excludes volatile food and energy prices, is projected to climb to 3.0 per cent from 2.8 per cent.&nbsp;The inflation reading will be closely watched for clues about the Federal Reserve’s next move, as markets currently expect 50 basis points of interest rate cuts before the end of the year, with the first reduction anticipated in September.&nbsp;Trump on Monday renewed his attacks on Fed Chair Jerome Powell, arguing that interest rates should be 1 per cent or lower, further fuelling debate about the central bank’s future policy path. Gold traditionally performs well in a low interest rate environment, as lower yields reduce the opportunity cost of holding the non-yielding asset.<h2>Silver shines amid supply fears</h2>Elsewhere in precious metals, spot silver also gained 0.5 per cent to $38.32 per ounce after hitting its highest level since September 2011 on Monday.&nbsp;Waterer told Reuters that silver was benefiting not only from gold’s broader rally but also from its own supply concerns and strong industrial demand that, “Also, gold’s rise over the past 18 months has had investors looking elsewhere for value and silver has been one of the metals to rise as a result.”<h2>Broader precious metals market rises</h2>Platinum rose 1.1 per cent to $1,379.22 per ounce, while palladium gained 0.5 per cent to $1,200.01, according to Reuters data.&nbsp;As the global economy faces trade disputes, tariff threats and persistent inflation concerns, the broader precious metals market continues to find support among investors hedging against uncertainty. &nbsp;

With US CPI expected to show an uptick in June, investors are weighing the Fed next move, while higher yields and a stronger dollar pose near term risks to further gold gains. Silver also surged, supported by industrial demand and tight supply.

Gold prices rose on Tuesday as investors sought safe-haven assets amid mounting global trade tensions, while markets looked ahead to key US inflation data that could shape the Federal Reserve’s next interest rate move. Spot gold climbed 0.5 per cent to $3,359.01 per ounce as of 0635 GMT, while US gold futures gained 0.3 per cent to $3,368.20, according to Reuters. The precious metal’s steady rise underscores its traditional role as a hedge during geopolitical and trade-related uncertainty, with market watchers closely tracking President Donald Trump’s escalating tariff threats against major trading partners. Tariff tensions drive safe-haven demand US President Trump on Saturday threatened to impose a 30 per cent tariff on imports from Mexico and the European Union from August 1 if no trade deal is reached, intensifying fears of a fresh trade war that could dent global economic growth. Tim Waterer, Chief Market Analyst at KCM Trade, told Reuters that, “Gold has shown in the past that it is an asset of choice when tariff tensions are ratcheted up, and the precious metal’s move towards $3,350 is evidence of this pattern playing out again”. However, Waterer also cautioned that higher US Treasury yields, and a stronger dollar were creating headwinds for further gains, suggesting gold would need a retreat in yields or the dollar to break decisively towards $3,400. Inflation data in focus Investor attention is now squarely on the release of June’s US Consumer Price Index (CPI) data due later on Tuesday. A Reuters poll of economists expects annual headline inflation to have risen to 2.7 per cent in June, up from 2.4 per cent in May. Core inflation, which excludes volatile food and energy prices, is projected to climb to 3.0 per cent from 2.8 per cent. The inflation reading will be closely watched for clues about the Federal Reserve’s next move, as markets currently expect 50 basis points of interest rate cuts before the end of the year, with the first reduction anticipated in September. Trump on Monday renewed his attacks on Fed Chair Jerome Powell, arguing that interest rates should be 1 per cent or lower, further fuelling debate about the central bank’s future policy path. Gold traditionally performs well in a low interest rate environment, as lower yields reduce the opportunity cost of holding the non-yielding asset. Silver shines amid supply fears Elsewhere in precious metals, spot silver also gained 0.5 per cent to $38.32 per ounce after hitting its highest level since September 2011 on Monday. Waterer told Reuters that silver was benefiting not only from gold’s broader rally but also from its own supply concerns and strong industrial demand that, “Also, gold’s rise over the past 18 months has had investors looking elsewhere for value and silver has been one of the metals to rise as a result.” Broader precious metals market rises Platinum rose 1.1 per cent to $1,379.22 per ounce, while palladium gained 0.5 per cent to $1,200.01, according to Reuters data. As the global economy faces trade disputes, tariff threats and persistent inflation concerns, the broader precious metals market continues to find support among investors hedging against uncertainty.

Gold, silver, and platinum rose as US tariff threats and inflation fears drove safe-haven demand. Investors await CPI data and Fed signals, with Trump pushing for aggressive rate cuts.

Gold gains as trade tensions and US inflation data keep investors on edge

Gold prices climbed to a three-week high on Monday, as investors rushed to safe-haven assets in response to renewed global trade tensions sparked by US President Donald Trump’s tariff threats.Spot gold was up 0.4 per cent at $3,367.89 per ounce as of 0829 GMT, according to Reuters, hitting its highest level since June 23 earlier in the session. US gold futures rose by the same margin to $3,378.20.Analysts say Trump’s latest move has rattled global markets, driving fresh interest in traditional hedges against uncertainty.<h2>Trump’s new tariff salvo fuels demand for gold</h2>Over the weekend, President Trump said he would impose a 30 per cent tariff on most imports from the European Union and Mexico starting August 1. The announcement has reignited fears of a broader trade war just as global supply chains have begun to recover. The European Union and Mexico both condemned the tariff threats as unfair and destabilising.&nbsp;&nbsp;The EU said it would hold off on retaliatory measures until early August but vowed to keep pressing for a negotiated settlement. “Trump tariffs threats are supporting demand for safe haven assets, and gold is a main beneficiary of that,” Giovanni Staunovo, a commodities analyst at UBS, told Reuters.<h2>Silver surges to over 13-year high</h2>The uncertainty isn’t only boosting gold. Silver prices surged 1.5 per cent to $38.89 per ounce on Monday, their highest level since September 2011. Analysts at ANZ noted that silver’s recent rally has been “driven by speculative flows,” with the metal pushing above key technical resistance levels.&nbsp;ANZ added that breaking the $35–$37 range could unleash new buying and potentially send prices toward $40. But the bank also warned that failure to hold those levels could trigger a pullback, with initial support seen around $35.<h2>Eyes on US inflation data and Fed moves</h2>Investors this week are also closely watching for US consumer and producer price index data, which could influence the Federal Reserve’s next moves on interest rates. Markets are currently pricing in around 50 basis points of rate cuts by the end of the year, beginning as early as October. Gold tends to benefit from lower interest rates, as they reduce the opportunity cost of holding non-yielding assets.<h2>Precious metals rally beyond gold and silver</h2>The risk-off sentiment spread to other precious metals. Platinum held steady at $1,398.75 per ounce, while palladium jumped 1.2 per cent to $1,229.44—the highest since late October 2024, according to Reuters. For investors, the message is clear: safe-haven demand is back in force, as markets brace for what could be another turbulent round in the global trade standoff.&nbsp;

Gold and silver rally on trade tension; silver hits $38.89, highest since 2011, with platinum and palladium also gaining on safe haven demand. As gold climbs on tariff tensions, all eyes turn to upcoming US inflation data and Fed rate decisions that could shape the metals outlook.

Gold prices climbed to a three-week high on Monday, as investors rushed to safe-haven assets in response to renewed global trade tensions sparked by US President Donald Trump’s tariff threats. Spot gold was up 0.4 per cent at $3,367.89 per ounce as of 0829 GMT, according to Reuters, hitting its highest level since June 23 earlier in the session. US gold futures rose by the same margin to $3,378.20. Analysts say Trump’s latest move has rattled global markets, driving fresh interest in traditional hedges against uncertainty. Trump’s new tariff salvo fuels demand for gold Over the weekend, President Trump said he would impose a 30 per cent tariff on most imports from the European Union and Mexico starting August 1. The announcement has reignited fears of a broader trade war just as global supply chains have begun to recover. The European Union and Mexico both condemned the tariff threats as unfair and destabilising. The EU said it would hold off on retaliatory measures until early August but vowed to keep pressing for a negotiated settlement. “Trump tariffs threats are supporting demand for safe haven assets, and gold is a main beneficiary of that,” Giovanni Staunovo, a commodities analyst at UBS, told Reuters. Silver surges to over 13-year high The uncertainty isn’t only boosting gold. Silver prices surged 1.5 per cent to $38.89 per ounce on Monday, their highest level since September 2011. Analysts at ANZ noted that silver’s recent rally has been “driven by speculative flows,” with the metal pushing above key technical resistance levels. ANZ added that breaking the $35–$37 range could unleash new buying and potentially send prices toward $40. But the bank also warned that failure to hold those levels could trigger a pullback, with initial support seen around $35. Eyes on US inflation data and Fed moves Investors this week are also closely watching for US consumer and producer price index data, which could influence the Federal Reserve’s next moves on interest rates. Markets are currently pricing in around 50 basis points of rate cuts by the end of the year, beginning as early as October. Gold tends to benefit from lower interest rates, as they reduce the opportunity cost of holding non-yielding assets. Precious metals rally beyond gold and silver The risk-off sentiment spread to other precious metals. Platinum held steady at $1,398.75 per ounce, while palladium jumped 1.2 per cent to $1,229.44—the highest since late October 2024, according to Reuters. For investors, the message is clear: safe-haven demand is back in force, as markets brace for what could be another turbulent round in the global trade standoff.

Gold hits 3-week high at $3,367 as Trump’s EU and Mexico tariff threats reignite global trade fears, driving investors to safe-haven assets.

Gold hits 3-week high on safe-haven demand; silver at 13-year peak

Gold prices slipped on Monday as investors tracked evolving signals from the United States on trade policy, with a stronger dollar weighing on bullion demand and markets bracing for tariff-related uncertainty. According to Bloomberg, spot gold fell as much as 0.9 per cent to trade near US$3,306 an ounce during Asian hours, paring last week’s gains as traders grew cautious about shifting US trade dynamics and upcoming tariff deadlines.<h2>Dollar gains put pressure on bullion</h2>A mild strengthening of the US dollar reduced gold’s appeal for investors using other currencies. Bloomberg’s Dollar Spot Index edged up 0.1 per cent in Asian trading, limiting bullion’s safe-haven flows.Spot gold was last quoted down 0.8 per cent at US$3,309.31 an ounce in Singapore on Monday morning.&nbsp;The metal had rallied almost 2 per cent last week but is now consolidating as traders reassess risks around global trade negotiations and the timing of new US tariff announcements. Other precious metals also moved lower, with silver, palladium and platinum all posting declines, according to Bloomberg.<h2>Trade tensions keep markets on edge</h2>Investors remain focused on the complex backdrop of US trade negotiations, with Treasury Secretary Scott Bessent over the weekend hinting at the possibility of extending talks with key partners beyond the initial 9 July notification deadline. Commerce Secretary Howard Lutnick confirmed that new country-specific tariffs are scheduled to take effect on 1 August.&nbsp;As per Bloomberg, these shifting timelines have added to market caution, given the potential for tariffs to disrupt global supply chains and weigh on overall economic growth.<h2>Bullion’s strong year-to-date gains</h2>Despite Monday’s decline, gold remains more than 25 per cent higher for the year, trading roughly US$190 below its all-time high set in April. The rally has been underpinned by strong demand from central banks, heightened geopolitical tensions and steady inflows into bullion-backed exchange-traded funds.&nbsp;According to Bloomberg, the safe-haven asset continues to attract investors seeking to hedge against volatility in equities, currencies and commodity markets amid ongoing uncertainty about global economic prospects. With markets sensitive to any updates on US trade negotiations, analysts expect gold to remain volatile in the coming weeks as traders weigh the timing and scope of new tariff measures and broader policy signals from Washington. (With inputs from the agencies)&nbsp;

Gold slipped nearly 1% amid a firmer dollar and market anxiety over shifting US trade policies, though the metal remains up over 25% this year on safe-haven demand and geopolitical risks.

Gold prices slipped on Monday as investors tracked evolving signals from the United States on trade policy, with a stronger dollar weighing on bullion demand and markets bracing for tariff-related uncertainty. According to Bloomberg, spot gold fell as much as 0.9 per cent to trade near US$3,306 an ounce during Asian hours, paring last week’s gains as traders grew cautious about shifting US trade dynamics and upcoming tariff deadlines. Dollar gains put pressure on bullion A mild strengthening of the US dollar reduced gold’s appeal for investors using other currencies. Bloomberg’s Dollar Spot Index edged up 0.1 per cent in Asian trading, limiting bullion’s safe-haven flows. Spot gold was last quoted down 0.8 per cent at US$3,309.31 an ounce in Singapore on Monday morning. The metal had rallied almost 2 per cent last week but is now consolidating as traders reassess risks around global trade negotiations and the timing of new US tariff announcements. Other precious metals also moved lower, with silver, palladium and platinum all posting declines, according to Bloomberg. Trade tensions keep markets on edge Investors remain focused on the complex backdrop of US trade negotiations, with Treasury Secretary Scott Bessent over the weekend hinting at the possibility of extending talks with key partners beyond the initial 9 July notification deadline. Commerce Secretary Howard Lutnick confirmed that new country-specific tariffs are scheduled to take effect on 1 August. As per Bloomberg, these shifting timelines have added to market caution, given the potential for tariffs to disrupt global supply chains and weigh on overall economic growth. Bullion’s strong year-to-date gains Despite Monday’s decline, gold remains more than 25 per cent higher for the year, trading roughly US$190 below its all-time high set in April. The rally has been underpinned by strong demand from central banks, heightened geopolitical tensions and steady inflows into bullion-backed exchange-traded funds. According to Bloomberg, the safe-haven asset continues to attract investors seeking to hedge against volatility in equities, currencies and commodity markets amid ongoing uncertainty about global economic prospects. With markets sensitive to any updates on US trade negotiations, analysts expect gold to remain volatile in the coming weeks as traders weigh the timing and scope of new tariff measures and broader policy signals from Washington. (With inputs from the agencies)

Gold prices dipped as a stronger US dollar and uncertainty around upcoming tariff decisions prompted cautious trading in precious metals.

Gold slips with investors wary of US trade moves and firm dollar

Gold continues to glitter across the world amid rising geopolitical uncertainties. But its significance in India is beyond it being a 'safe-haven asset'. The yellow metal is considered sacred to Indian households. Gold is a key feature in every major festival and tradition in the country. Akshaya Tritiya is one such tradition, a day considered auspicious to buy gold. But what happens when tradition meets high prices?
Gold has been on a record climb in the last 2 years. The prices have surged beyond $3500 per dollar, and are looking to break the 1,00,000 lakh rupees in India. This time coincides with rising tensions across multiple borders and declining consumption patterns. But, Industry jitters around buying trends subsided as the auspicious day ended with a 35 per cent surge in sales compared to last year. Total precious metal sales, across Gold and Silver, touched $1.8 billion, according to the Confederation of All India Traders.&nbsp;
<h2 class="MsoNormal">Gold glitters in India<o:p></o:p></h2>
Despite record-high prices, consumers flocked to stores, driven by religious sentiment, wedding demand, and tradition. Gold prices touched 97,500 rupees per 10 grams, while silver peaked at 98,000 rupees per kilogram, among the highest ever.<o:p></o:p>
However, a mid-day dip maintained consumer interest. The All-India Gem and Jewellery Council estimates gold sales at 20 tonnes &mdash; flat year-on-year in volume &mdash; but up 35 per cent in value terms.<o:p></o:p>
Jewellers also reported that 50 per cent of purchases were financed by exchanging old gold, reflecting price sensitivity. Footfalls were higher in southern India early in the day, with activity picking up in Maharashtra and the north later.<o:p></o:p>
Younger consumers aged 25 to 40 were active buyers, purchasing jewellery, coins, and bars within budget limits. Retailers noted increased demand for lab-grown diamonds and studded jewellery.<o:p></o:p>
Despite affordability pressures, experts say gold demand has remained resilient, with India importing 700&ndash;800 tonnes annually &mdash; a trend that shows no signs of slowing.<o:p></o:p>
(With inputs from the agencies)<o:p></o:p>

Business & Economy: According to the Confederation of All India Traders, gold jewellery and related items accounted for 1.4 billion dollars, while the silver trade added the rest.

Gold continues to glitter across the world amid rising geopolitical uncertainties. But its significance in India is beyond it being a 'safe-haven asset'. The yellow metal is considered sacred to Indian households. Gold is a key feature in every major festival and tradition in the country. Akshaya Tritiya is one such tradition, a day considered auspicious to buy gold. But what happens when tradition meets high prices? Gold has been on a record climb in the last 2 years. The prices have surged beyond $3500 per dollar, and are looking to break the 1,00,000 lakh rupees in India. This time coincides with rising tensions across multiple borders and declining consumption patterns. But, Industry jitters around buying trends subsided as the auspicious day ended with a 35 per cent surge in sales compared to last year. Total precious metal sales, across Gold and Silver, touched $1.8 billion, according to the Confederation of All India Traders. Gold glitters in India Despite record-high prices, consumers flocked to stores, driven by religious sentiment, wedding demand, and tradition. Gold prices touched 97,500 rupees per 10 grams, while silver peaked at 98,000 rupees per kilogram, among the highest ever. However, a mid-day dip maintained consumer interest. The All-India Gem and Jewellery Council estimates gold sales at 20 tonnes — flat year-on-year in volume — but up 35 per cent in value terms. Jewellers also reported that 50 per cent of purchases were financed by exchanging old gold, reflecting price sensitivity. Footfalls were higher in southern India early in the day, with activity picking up in Maharashtra and the north later. Younger consumers aged 25 to 40 were active buyers, purchasing jewellery, coins, and bars within budget limits. Retailers noted increased demand for lab-grown diamonds and studded jewellery. Despite affordability pressures, experts say gold demand has remained resilient, with India importing 700–800 tonnes annually — a trend that shows no signs of slowing. (With inputs from the agencies)

Gold and silver sales hit $1.8 billion on Akshaya Tritiya despite record prices

Gold smuggling cases are surging in Japan on the back of the rising price of the precious metal and the recovery of overseas tourists following the COVID-19 pandemic. Watch this report for more details!

Japan: Gold smuggling cases surge by 30%

Gold prices soared to a record high on Monday as investors turned to safe-haven assets following US President Donald Trump's decision to impose tariffs on Canada, and Mexico. Watch this report for more details!

Gold prices hit record high as Trump tariffs spur safe-haven buying

Gold prices eased on Monday as bets firmed for a smaller US&nbsp;rate cut in November after a surprisingly strong jobs report, while market participants awaited inflation data and comments from Federal Reserve officials for further cues.

Spot gold slipped 0.2% to $2,647.43 per ounce by 0211 GMT. US&nbsp;gold futures were unchanged at $2,666.80.

The stronger-than-expected September jobs report, released on Friday, poured cold water on expectations of a large Fed rate cut next month, boosting the dollar.&nbsp;

Also read |&nbsp;<a bis_size="{&quot;x&quot;:88,&quot;y&quot;:145,&quot;w&quot;:391,&quot;h&quot;:16,&quot;abs_x&quot;:121,&quot;abs_y&quot;:1835}" href="https://www.wionews.com/business-economy/global-markets-surge-as-8-trillion-rally-faces-key-tests-765028">Global markets surge as $8 trillion rally faces key tests</a>

Traders now see a 93.4% probability that the Fed will cut rates by only a quarter of a percentage point in November, according to CME's FedWatch tool. They have scaled back expectations for a 50 basis-point cut to 0% from 28%.

"Geopolitical risks in the Middle East could support safe-haven flows for the yellow metal, which limit the downside from a less-dovish market rate pricing," IG market strategist Yeap Jun Rong said, adding that gold would remain supported with US&nbsp;election uncertainties ahead.

Bullion tends to be a preferred investment in a low interest rate environment and during political and economic uncertainties.

This week, market participants will focus on minutes of the Fed's last policy meeting, and the U.S. Consumer Price Index (CPI) and Producer Price Index (PPI) data. A slew of U.S&nbsp;central bank officials are also speaking this week.

In the Middle East, Israel bombed Hezbollah targets in Lebanon and the Gaza Strip on Sunday ahead of the one-year anniversary of the Oct. 7 attacks that sparked its war, as Israel's defence minister declared all options were open for retaliation against arch-enemy Iran.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/bond-traders-brace-for-no-landing-scenario-after-jobs-surge-765042">Bond traders brace for ‘No Landing’ scenario after jobs surge</a>

Elsewhere, China's gold holdings stood at 72.8 million fine troy ounces at the end of September, for a fifth straight month, data showed.

Spot silver was flat at $32.17 per ounce. Platinum gained 0.5% to $989.36 and palladium rose 1% to $1,022.20.

Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION&nbsp;audience. 
&nbsp;

Gold prices eased on Monday as bets firmed for a smaller US rate cut in November after a surprisingly strong jobs report, while market participants awaited inflation data and comments from Federal Reserve officials for further cues.

Gold prices eased on Monday as bets firmed for a smaller US rate cut in November after a surprisingly strong jobs report, while market participants awaited inflation data and comments from Federal Reserve officials for further cues. Spot gold slipped 0.2% to $2,647.43 per ounce by 0211 GMT. US gold futures were unchanged at $2,666.80. The stronger-than-expected September jobs report, released on Friday, poured cold water on expectations of a large Fed rate cut next month, boosting the dollar. Also read | Global markets surge as $8 trillion rally faces key tests Traders now see a 93.4% probability that the Fed will cut rates by only a quarter of a percentage point in November, according to CME's FedWatch tool. They have scaled back expectations for a 50 basis-point cut to 0% from 28%. "Geopolitical risks in the Middle East could support safe-haven flows for the yellow metal, which limit the downside from a less-dovish market rate pricing," IG market strategist Yeap Jun Rong said, adding that gold would remain supported with US election uncertainties ahead. Bullion tends to be a preferred investment in a low interest rate environment and during political and economic uncertainties. This week, market participants will focus on minutes of the Fed's last policy meeting, and the U.S. Consumer Price Index (CPI) and Producer Price Index (PPI) data. A slew of U.S central bank officials are also speaking this week. In the Middle East, Israel bombed Hezbollah targets in Lebanon and the Gaza Strip on Sunday ahead of the one-year anniversary of the Oct. 7 attacks that sparked its war, as Israel's defence minister declared all options were open for retaliation against arch-enemy Iran. Also read | Bond traders brace for ‘No Landing’ scenario after jobs surge Elsewhere, China's gold holdings stood at 72.8 million fine troy ounces at the end of September, for a fifth straight month, data showed. Spot silver was flat at $32.17 per ounce. Platinum gained 0.5% to $989.36 and palladium rose 1% to $1,022.20. Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

Gold inches lower as US jobs data cements bets for smaller rate cut

Gold steadied after its hike on Tuesday, as markets weighed possible next steps in a worsening Middle East conflict in the wake of Israel's vow to retaliate against Iran's missile attacks.

The metal traded around $2,660 an ounce after ending 1.1 per cent higher in the prior session when Iran fired roughly 200 ballistic missiles at Israel. President Benjamin Netanyahu labelled the action a "big mistake" and pledged to make Iran "pay for it." The US is reportedly helping prepare efforts to build up Israel's defence, according to an earlier report.

“Geopolitical headlines often trigger immediate market reactions, but these tend to reverse if no significant assets are impacted,” said Charu Chanana, a strategist at Saxo Capital Markets Pte, who added that gold remained an attractive hedge. “When considering how markets might react next, the key worry would be risks of an escalation, particularly if Iran’s oil assets could be targeted.”

Gold has risen about 30 per cent this year, which set a succession of new highs. Recent increases have been spurred by hopes of rate cuts from the Fed, which kicked off its cutting cycle last month with a 50-basis-point move.

In addition to the future escalation of conflicts in the Middle East, it is on Friday that traders will be looking at a US jobs report, which could become critical input into the Fed's rate-cutting timeline. Swaps traders are pricing in a one-in-three chance of another half-point cut from the Fed in November.

Spot gold was little changed at $2,660.15 an ounce as of 10:23 a.m. in Singapore, below its all-time high of $2,685.58 reached last week. The Bloomberg Dollar Spot Index fell 0.1 per cent. Silver was lower, while platinum and palladium rose.

Gold steadied after its hike on Tuesday, as markets weighed possible next steps in a worsening Middle East conflict in the wake of Israel's vow to retaliate against Iran's missile attacks.

Gold steadied after its hike on Tuesday, as markets weighed possible next steps in a worsening Middle East conflict in the wake of Israel's vow to retaliate against Iran's missile attacks. The metal traded around $2,660 an ounce after ending 1.1 per cent higher in the prior session when Iran fired roughly 200 ballistic missiles at Israel. President Benjamin Netanyahu labelled the action a "big mistake" and pledged to make Iran "pay for it." The US is reportedly helping prepare efforts to build up Israel's defence, according to an earlier report. “Geopolitical headlines often trigger immediate market reactions, but these tend to reverse if no significant assets are impacted,” said Charu Chanana, a strategist at Saxo Capital Markets Pte, who added that gold remained an attractive hedge. “When considering how markets might react next, the key worry would be risks of an escalation, particularly if Iran’s oil assets could be targeted.” Gold has risen about 30 per cent this year, which set a succession of new highs. Recent increases have been spurred by hopes of rate cuts from the Fed, which kicked off its cutting cycle last month with a 50-basis-point move. In addition to the future escalation of conflicts in the Middle East, it is on Friday that traders will be looking at a US jobs report, which could become critical input into the Fed's rate-cutting timeline. Swaps traders are pricing in a one-in-three chance of another half-point cut from the Fed in November. Spot gold was little changed at $2,660.15 an ounce as of 10:23 a.m. in Singapore, below its all-time high of $2,685.58 reached last week. The Bloomberg Dollar Spot Index fell 0.1 per cent. Silver was lower, while platinum and palladium rose.

Gold holds steady as Iran strikes trigger increased safe-haven buying

Gold rose to a record high as it advanced more than 1 per cent in the previous session, on account of weak US data that strengthened the case for deeper rate cuts. Silver was near the highest in four months, according to a report by Bloomberg.

Prices for gold climbed as high as 0.3 per cent above $2,665 an ounce and surpassed Tuesday's all-time high after a report showed US consumer confidence this month dropped the most in three years. Silver rose 4.6 per cent on Tuesday for its biggest one-day advance in four months.

Swaps traders wagered on more than three-quarters of a point of easing by the Fed this year. Gold and silver both tend to benefit when rates are low because they offer no interest, and a weaker dollar simply makes them cheaper for many buyers.

Their movement largely takes place in tandem as both offer similar macro-and currency-hedging properties. Still, white metal is far more sensitive to the economic cycle than yellow metal because white metal is also an industrial commodity useful in clean-energy technologies, including solar panels, among others.

A shot in the arm for industrial metals came on Tuesday as Beijing announced a series of measures to address the country's economic malaise and targeted the real estate market in particular.

“The main driver for silver in the last few weeks has been the gold rally — which got another boost yesterday from higher rate-cut expectations following the weak consumer confidence report,” said Zhong Liang Han, an analyst at Standard Chartered Plc. However, the “rally in industrial metals following China’s broad stimulus package was the key driver behind the next leg of the up-move in silver.”

Gold is now up nearly 30 per cent this year while silver has gained 35 per cent, rallies surging since the Fed's half-point cut last week. The yellow metal has been supported by robust central bank purchases and heightened geopolitical tensions driving haven demand. A too-close-to-call US presidential election that might prove massively consequential for financial markets is now fewer than six weeks away.

Spot gold advanced to a record $2,665.25 an ounce and traded 0.2 per cent higher at $2,662.77 as of 10:34 a.m. in Singapore. The Bloomberg Dollar Spot Index was little changed after sinking 0.5 percent in the previous session.

Silver is getting attention given the sharp rally in gold, especially as investors look for catch-up buying opportunities, said Joni Teves, a precious metals strategist at UBS Group AG.

“The move in industrial commodities is likely also providing an additional boost,” Teves said. “Our bullish outlook for silver is unchanged; we think it can outperform in this environment of rising gold prices, Fed easing and forecasted silver market deficits.”

Silver fell 0.5 per cent in Singapore to $31.9435 an ounce. Palladium and platinum dipped.

Investors will now be waiting for more US data, including the personal consumption expenditures gauge and jobless claims, later this week, that should give more indications on the Fed's likely easing path.

Gold rose to a record high as it advanced more than 1 per cent in the previous session, on account of weak US data that strengthened the case for deeper rate cuts.

Gold rose to a record high as it advanced more than 1 per cent in the previous session, on account of weak US data that strengthened the case for deeper rate cuts. Silver was near the highest in four months, according to a report by Bloomberg. Prices for gold climbed as high as 0.3 per cent above $2,665 an ounce and surpassed Tuesday's all-time high after a report showed US consumer confidence this month dropped the most in three years. Silver rose 4.6 per cent on Tuesday for its biggest one-day advance in four months. Swaps traders wagered on more than three-quarters of a point of easing by the Fed this year. Gold and silver both tend to benefit when rates are low because they offer no interest, and a weaker dollar simply makes them cheaper for many buyers. Their movement largely takes place in tandem as both offer similar macro-and currency-hedging properties. Still, white metal is far more sensitive to the economic cycle than yellow metal because white metal is also an industrial commodity useful in clean-energy technologies, including solar panels, among others. A shot in the arm for industrial metals came on Tuesday as Beijing announced a series of measures to address the country's economic malaise and targeted the real estate market in particular. “The main driver for silver in the last few weeks has been the gold rally — which got another boost yesterday from higher rate-cut expectations following the weak consumer confidence report,” said Zhong Liang Han, an analyst at Standard Chartered Plc. However, the “rally in industrial metals following China’s broad stimulus package was the key driver behind the next leg of the up-move in silver.” Gold is now up nearly 30 per cent this year while silver has gained 35 per cent, rallies surging since the Fed's half-point cut last week. The yellow metal has been supported by robust central bank purchases and heightened geopolitical tensions driving haven demand. A too-close-to-call US presidential election that might prove massively consequential for financial markets is now fewer than six weeks away. Spot gold advanced to a record $2,665.25 an ounce and traded 0.2 per cent higher at $2,662.77 as of 10:34 a.m. in Singapore. The Bloomberg Dollar Spot Index was little changed after sinking 0.5 percent in the previous session. Silver is getting attention given the sharp rally in gold, especially as investors look for catch-up buying opportunities, said Joni Teves, a precious metals strategist at UBS Group AG. “The move in industrial commodities is likely also providing an additional boost,” Teves said. “Our bullish outlook for silver is unchanged; we think it can outperform in this environment of rising gold prices, Fed easing and forecasted silver market deficits.” Silver fell 0.5 per cent in Singapore to $31.9435 an ounce. Palladium and platinum dipped. Investors will now be waiting for more US data, including the personal consumption expenditures gauge and jobless claims, later this week, that should give more indications on the Fed's likely easing path.

Gold soars to new peak as US data fuels expectations for deeper rate cuts

This year’s rally in gold prices suggests that the precious metal may no longer be as tightly linked to the interest rate cycle as it once was. However, that doesn’t mean lower rates won’t influence its value. Recent discussions at the Jackson Hole Symposium in Wyoming hinted at potential rate cuts, which could add some extra shine to gold.

Does gold still a sparkling investment?

China's central bank did not purchase any gold in June, marking the second consecutive month of no gold purchases. Last month marked the end of an 18-month buying streak that pushed Gold prices to record highs. Prices peaked at $2400 an ounce in May but suffered a decline as China awaits price correction to around $2200 per ounce.

Despite the dip, Gold prices were boosted by emerging economies like India &amp; Turkiye. India boosted its gold reserves by nine tonnes in June, bringing the total reserves to 841 tonnes. This marks the largest monthly increase in two years. India also leads among Asian G20 countries in the highest value of Gold as a percentage of total reserves.&nbsp;

China was the largest institutional buyer of Gold in 2023. This aggressive buying trend, led by China &amp; India, was to counter the geopolitical uncertainties roiling currency and stock markets. This led to a global surge in Gold prices. However, in 2024, economic slowdown and property woes have forced China to pump stimulus into the market. This has raised costs for the government, which is now waiting for Gold prices to drop before resuming buying.

Will Gold prices dip?

Gold prices have been on an upward trend, more so after Russia's war in Ukraine spooked investors to pivot to safe-haven assets. While China has been a major factor driving the Gold uptick, the prices are only expected to jump as geopolitical uncertainties continue. US Federal Reserve's rate cut bets in November offsets the lack of buying momentum from China, with India leading the Gold demand in 2024.

The World Gold Council notes that Central Banks and Emerging markets are crucial to sustaining Gold demand as supply challenges loom due to mining bottlenecks and environmental permit difficulties.

China's central bank did not purchase any gold in June, marking the second consecutive month of no gold purchases. Last month marked the end of an 18-month buying streak that pushed Gold prices to record highs.

China's central bank did not purchase any gold in June, marking the second consecutive month of no gold purchases. Last month marked the end of an 18-month buying streak that pushed Gold prices to record highs. Prices peaked at $2400 an ounce in May but suffered a decline as China awaits price correction to around $2200 per ounce. Despite the dip, Gold prices were boosted by emerging economies like India & Turkiye. India boosted its gold reserves by nine tonnes in June, bringing the total reserves to 841 tonnes. This marks the largest monthly increase in two years. India also leads among Asian G20 countries in the highest value of Gold as a percentage of total reserves. China was the largest institutional buyer of Gold in 2023. This aggressive buying trend, led by China & India, was to counter the geopolitical uncertainties roiling currency and stock markets. This led to a global surge in Gold prices. However, in 2024, economic slowdown and property woes have forced China to pump stimulus into the market. This has raised costs for the government, which is now waiting for Gold prices to drop before resuming buying. Will Gold prices dip? Gold prices have been on an upward trend, more so after Russia's war in Ukraine spooked investors to pivot to safe-haven assets. While China has been a major factor driving the Gold uptick, the prices are only expected to jump as geopolitical uncertainties continue. US Federal Reserve's rate cut bets in November offsets the lack of buying momentum from China, with India leading the Gold demand in 2024. The World Gold Council notes that Central Banks and Emerging markets are crucial to sustaining Gold demand as supply challenges loom due to mining bottlenecks and environmental permit difficulties.

India & Turkiye lead global gold buying as China holds back

China's central bank did not buy any gold in the month of June, thereby marking the second straight month of no addition to reserves. This was a pause while gold prices eased from their record highs.

According to official data published Sunday, the People's Bank of China held 72.8 million troy ounces of gold at the end of June, while in May, it ended an 18-month buying spree during which gold prices surged to unprecedented levels.

However, despite this pause, some analysts believe that the PBOC could resume buying due to China's desire to diversify its reserves and hedge against the depreciation of currencies. In a report, the World Gold Council indicated that about 20 central banks intend to increase their gold holdings in the coming year due to geopolitical and financial risks.

The high gold price could have kept many people at bay, having hit an all-time high above $2,400 an ounce in May. Since then, prices have partially fallen as investors pulled back on expectations of a US interest rate cut this year. The announcement by the PBOC of a buying pause in May was followed by the biggest intraday fall of gold in nearly three years.

Meanwhile, central banks across the world are on a record gold-buying spree. The total central bank consumption was 1,037 tonnes in 2023, the second-highest annual purchase in history after 1,082 tonnes in 2022. While China is holding its gold purchase programme for later, India boosted its gold reserves by most in two years in June, according to the World Gold Council.&nbsp;

China's central bank did not buy any gold in the month of June, thereby marking the second straight month of no addition to reserves. This was a pause while gold prices eased from their record highs.

China's central bank did not buy any gold in the month of June, thereby marking the second straight month of no addition to reserves. This was a pause while gold prices eased from their record highs. According to official data published Sunday, the People's Bank of China held 72.8 million troy ounces of gold at the end of June, while in May, it ended an 18-month buying spree during which gold prices surged to unprecedented levels. However, despite this pause, some analysts believe that the PBOC could resume buying due to China's desire to diversify its reserves and hedge against the depreciation of currencies. In a report, the World Gold Council indicated that about 20 central banks intend to increase their gold holdings in the coming year due to geopolitical and financial risks. The high gold price could have kept many people at bay, having hit an all-time high above $2,400 an ounce in May. Since then, prices have partially fallen as investors pulled back on expectations of a US interest rate cut this year. The announcement by the PBOC of a buying pause in May was followed by the biggest intraday fall of gold in nearly three years. Meanwhile, central banks across the world are on a record gold-buying spree. The total central bank consumption was 1,037 tonnes in 2023, the second-highest annual purchase in history after 1,082 tonnes in 2022. While China is holding its gold purchase programme for later, India boosted its gold reserves by most in two years in June, according to the World Gold Council.

China’s central bank pauses gold purchases for second month

Global markets witnessed a lot of turbulence heading to this year. Geopolitical tensions and inflation concerns were at their peak. Cut to 6 months later, and the global markets have witnessed record highs. Asian stocks have breached&nbsp;multiple peaks, with India &amp; Pakistan's stock markets leading the rally. US stocks are also at record highs. But what's driving this rally?

The surge in tech stocks has bolstered the markets in 2024. While investors are still navigating interest rate dynamics, companies like Nvidia have soared exponentially, rising to over 150 per cent in the year. Reuters data shows that the MSCI's 47-country world stocks index has clocked up 11 per cent since January. Meanwhile, the top tech firms have surged 30 per cent. The magnificent seven alone has surged $8.3 trillion in the last 18 months. This contrasting jump explains the&nbsp;market's triumph.

This comes at a time when major economies have witnessed or are about to witness 'unexpected' elections. Election uncertainties have certainly caused market volatility, which has benefitted short-sellers as well. In Nvidia's recent $430 billion 3-day slump, short-sellers reportedly made $5 billion.

Gold and cryptocurrency shine

Cocoa prices surged to record highs of $11,000 in the initial months of 2024. Since then, the prices have witnessed a downward trend,&nbsp;declining to a 2-year low.

But what shines is GOLD! The yellow metal has hit record highs in 2024. The demand for safe-haven assets has overall surged in 2024, with investors looking for safer bets amid volatility.&nbsp;

Cryptocurrencies also made a comeback, with the approval of Exchange-Traded Funds (ETFs). The prices broke multiple record highs as it cruised through the $70,000 mark.

Global markets witnessed a lot of turbulence heading to this year. Geopolitical tensions and inflation concerns were at their peak. Cut to 6 months later, and the global markets have witnessed record highs.

Global markets witnessed a lot of turbulence heading to this year. Geopolitical tensions and inflation concerns were at their peak. Cut to 6 months later, and the global markets have witnessed record highs. Asian stocks have breached multiple peaks, with India & Pakistan's stock markets leading the rally. US stocks are also at record highs. But what's driving this rally? The surge in tech stocks has bolstered the markets in 2024. While investors are still navigating interest rate dynamics, companies like Nvidia have soared exponentially, rising to over 150 per cent in the year. Reuters data shows that the MSCI's 47-country world stocks index has clocked up 11 per cent since January. Meanwhile, the top tech firms have surged 30 per cent. The magnificent seven alone has surged $8.3 trillion in the last 18 months. This contrasting jump explains the market's triumph. This comes at a time when major economies have witnessed or are about to witness 'unexpected' elections. Election uncertainties have certainly caused market volatility, which has benefitted short-sellers as well. In Nvidia's recent $430 billion 3-day slump, short-sellers reportedly made $5 billion. Gold and cryptocurrency shine Cocoa prices surged to record highs of $11,000 in the initial months of 2024. Since then, the prices have witnessed a downward trend, declining to a 2-year low. But what shines is GOLD! The yellow metal has hit record highs in 2024. The demand for safe-haven assets has overall surged in 2024, with investors looking for safer bets amid volatility. Cryptocurrencies also made a comeback, with the approval of Exchange-Traded Funds (ETFs). The prices broke multiple record highs as it cruised through the $70,000 mark.

Global markets roundup: Tech rally leads global markets in 2024

Gold prices stalled Thursday, after touching a two-week low in the previous session. Investors eye US&nbsp;inflation data for signs of cooling that could spur the Federal Reserve to slash interest rates.

It last stood firm at $2,299.55 per ounce as of 0255 GMT, following a drop in the previous session to its weakest since June 10. US&nbsp;gold futures fell 0.1 per cent to $2,310.20.

The dollar was near an eight-week high, making gold more expensive for holders of other currencies, while benchmark 10-year yields also held firm.

"The ascent by the US&nbsp;dollar accompanied by rising bond yields have left the gold price swimming against the tide," said Tim Waterer, chief market analyst at KCM Trade.

Fed Governor Michelle Bowman said Wednesday she still believes inflation will continue to ease with policy rate held steady, but added that lower interest rates would be "eventually" appropriate if inflation trends toward the 2 per cent target.

Key economic data due this week includes the US&nbsp;first-quarter gross domestic product estimates are due at 12:30 GMT and personal consumption expenditures (PCE) inflation data on Friday.&nbsp;

"If the core PCE print leaves financial markets pessimistic about when that first Fed interest rate cut may occur, gold could slip back towards $2,270 level," Waterer added.

Though gold is usually considered a hedge against inflation, higher interest rates increase the opportunity cost of holding the non-yielding asset.

The tension was underlined in a note from BMI analysts recently: "Gold prices remain tangled in a tug of war between a less dovish Fed and high levels of geopolitical tension."

"The main driver of easing gold prices in the longer term will be greater risk-on sentiment as the global economy recovers in the later part of the decade."

Other precious metals moved lower, with spot silver down 0.1 per cent at $28.74. Platinum eased 0.3 per cent to $1,007.33 while palladium gained 0.2 per cent to $930.39.

With the coming critical data related to the economy, gold price will be highly sensitive to deviations in both inflation expectations and Federal Reserve policy outlooks. Investors are keenly watching for these developments to track what the future holds for gold and other metals together.

Gold prices stalled Thursday, after touching a two-week low in the previous session. Investors eye US inflation data for signs of cooling that could spur the Federal Reserve to slash interest rates.

Gold prices stalled Thursday, after touching a two-week low in the previous session. Investors eye US inflation data for signs of cooling that could spur the Federal Reserve to slash interest rates. It last stood firm at $2,299.55 per ounce as of 0255 GMT, following a drop in the previous session to its weakest since June 10. US gold futures fell 0.1 per cent to $2,310.20. The dollar was near an eight-week high, making gold more expensive for holders of other currencies, while benchmark 10-year yields also held firm. "The ascent by the US dollar accompanied by rising bond yields have left the gold price swimming against the tide," said Tim Waterer, chief market analyst at KCM Trade. Fed Governor Michelle Bowman said Wednesday she still believes inflation will continue to ease with policy rate held steady, but added that lower interest rates would be "eventually" appropriate if inflation trends toward the 2 per cent target. Key economic data due this week includes the US first-quarter gross domestic product estimates are due at 12:30 GMT and personal consumption expenditures (PCE) inflation data on Friday. "If the core PCE print leaves financial markets pessimistic about when that first Fed interest rate cut may occur, gold could slip back towards $2,270 level," Waterer added. Though gold is usually considered a hedge against inflation, higher interest rates increase the opportunity cost of holding the non-yielding asset. The tension was underlined in a note from BMI analysts recently: "Gold prices remain tangled in a tug of war between a less dovish Fed and high levels of geopolitical tension." "The main driver of easing gold prices in the longer term will be greater risk-on sentiment as the global economy recovers in the later part of the decade." Other precious metals moved lower, with spot silver down 0.1 per cent at $28.74. Platinum eased 0.3 per cent to $1,007.33 while palladium gained 0.2 per cent to $930.39. With the coming critical data related to the economy, gold price will be highly sensitive to deviations in both inflation expectations and Federal Reserve policy outlooks. Investors are keenly watching for these developments to track what the future holds for gold and other metals together.

Gold prices stagnate as market awaits key US inflation data

China's bullion imports fell substantially last month as demand in the world's largest consumer weakened due to record prices. According to the most recent customs data, international purchases of physical gold crashed to 136 tons in April, a 30 per cent decrease from the previous month and the lowest sum this year.

The reduction in imports comes as gold prices continue to be largely impacted by US interest rates. However, bullion's recent gain has been mostly driven by strong consumption in China, where investment opportunities are more limited than in other countries. Amid a lengthy real estate crisis, turbulent stock markets, and a weakening yuan, Chinese households and investors have flocked to gold as a haven for safety, fostering its climb to all-time highs.

China's central bank has also been a persistent buyer of gold, increasing its holdings for the 18th straight month to&nbsp;diversify its reserves and safeguard against currency devaluation. Nonetheless, the rate of these purchases slowed in April, reflecting the overall trend in the country's gold imports.

"Moderating imports may give gold bulls pause," said Soni Kumari, commodity strategist at ANZ Group Holdings Ltd. "While Chinese demand is likely to remain strong in 2024, it's set to level off."

Adding to the pressure on the gold market, Chinese officials have issued cautions about excessive speculation. In the latest effort to reduce risk-taking, the Shanghai Gold Exchange tightened margin requirements on some contracts beginning Tuesday.

As China's thirst for gold cools, market analysts will keep a careful eye on the effects on global bullion prices and the larger commodities market.

(With inputs from Bloomberg)&nbsp;

China's bullion imports fell substantially last month as demand in the world's largest consumer weakened due to record prices. According to the most recent customs data, international purchases of physical gold crashed to 136 tons in April, a 30 per cent decrease from the previous month and the lowest sum this year.

China's bullion imports fell substantially last month as demand in the world's largest consumer weakened due to record prices. According to the most recent customs data, international purchases of physical gold crashed to 136 tons in April, a 30 per cent decrease from the previous month and the lowest sum this year. The reduction in imports comes as gold prices continue to be largely impacted by US interest rates. However, bullion's recent gain has been mostly driven by strong consumption in China, where investment opportunities are more limited than in other countries. Amid a lengthy real estate crisis, turbulent stock markets, and a weakening yuan, Chinese households and investors have flocked to gold as a haven for safety, fostering its climb to all-time highs. China's central bank has also been a persistent buyer of gold, increasing its holdings for the 18th straight month to diversify its reserves and safeguard against currency devaluation. Nonetheless, the rate of these purchases slowed in April, reflecting the overall trend in the country's gold imports. "Moderating imports may give gold bulls pause," said Soni Kumari, commodity strategist at ANZ Group Holdings Ltd. "While Chinese demand is likely to remain strong in 2024, it's set to level off." Adding to the pressure on the gold market, Chinese officials have issued cautions about excessive speculation. In the latest effort to reduce risk-taking, the Shanghai Gold Exchange tightened margin requirements on some contracts beginning Tuesday. As China's thirst for gold cools, market analysts will keep a careful eye on the effects on global bullion prices and the larger commodities market. (With inputs from Bloomberg)

China’s gold imports plunge amid record prices and economic uncertainty

Gold prices in India have witnessed a considerable surge over the past 24 hours. The prices increased by INR 50 per gram for both 22-carat and 24-carat gold. As of Friday, March 10, 10 grams of 24-carat gold costs Rs. 55,290 in India, while 10 grams of 22-carat gold costs Rs. 50,460. Gold prices rose in major Indian cities, with Chennai recording 24-carat gold prices of Rs. 52,285 for 10 grams and 22-carat gold prices of Rs. 47,927 for 10 grams. Meanwhile, the national capital Delhi has a gold rate of Rs. 55,680 for 24 carats (10 grams) and Rs. 51,050 for 22 carats (10 grams).

<h2>Gold prices in Indian cities</h2>

In Kolkata, the price of 24-carat gold (10 grams) is Rs. 55,530, while the price of 22-carat gold (10 grams) is Rs. 50,900. In Mumbai, 24-carat gold (10 grams) costs Rs. 55,530, while 22-carat gold (10 grams) costs Rs. 50,900.

Gold prices are expected to rise as a result of global trends and the weakening of the Indian rupee against the US dollar. Investors and consumers who were planning to buy gold now have to pay more due to the unexpected price increase.
<img alt="24-Karat Gold prices in India" data-align="center" data-entity-type="file" data-entity-uuid="9650ce60-7691-44ea-b899-9137a0f55e73" src="//cdn.wionews.com/sites/default/files/inline-images/24k%20India.PNG" /><img alt="22-Karat Gold prices in India" data-align="center" data-entity-type="file" data-entity-uuid="82aec022-fc26-420c-baf4-c00db9083867" src="//cdn.wionews.com/sites/default/files/inline-images/22k%20india.PNG" /><img alt="Gold prices in top Indian cities" data-align="center" data-entity-type="file" data-entity-uuid="074b84f7-4347-4b9d-bdfe-3e5be642d030" src="//cdn.wionews.com/sites/default/files/inline-images/india%20major%20indian%20cities.PNG" />
<h2>Gold prices in Dubai, UAE&nbsp;</h2>

As of March 10, 2023, the price of gold in Dubai has remained relatively stable. The price of 24-karat gold, which is the most popular type of gold in Dubai, is currently around AED 222.25 per gram. This is a slight increase from the previous day's price, which was around AED 220.75 per gram. The price of gold in Dubai is influenced by various factors, including global economic conditions, supply and demand, and geopolitical tensions. However, despite these factors, the current stable prices of gold in Dubai are expected to remain relatively unchanged in the short term.

In terms of Indian Rupees, 10 grams of 24-carat gold costs INR 49,640 in Dubai. Whereas, 10 grams of 22-carat gold costs INR 45,678 in the Emirati Capital city. Here is the complete price list:
<img alt="22-Karat Gold prices in Dubai (AED)" data-align="center" data-entity-type="file" data-entity-uuid="6e15d134-62ee-4e6e-ba17-4b1e968e4064" src="//cdn.wionews.com/sites/default/files/inline-images/dubai%2024k%20aed.PNG" /><img alt="24-Karat Gold prices in Dubai (AED)" data-align="center" data-entity-type="file" data-entity-uuid="f8c68390-ab94-4024-8b1b-1120a5858782" src="//cdn.wionews.com/sites/default/files/inline-images/24k%20sahi%20dubai%20aed.PNG" /><img alt="22K Gold prices in Dubai in INR" data-align="center" data-entity-type="file" data-entity-uuid="d186c530-b362-4ae8-98da-9b8fcec79b6c" src="//cdn.wionews.com/sites/default/files/inline-images/22k%20inr%20dubai.PNG" /><img alt="24K Gold prices in Dubai in INR" data-align="center" data-entity-type="file" data-entity-uuid="5f758850-585d-4e5f-85c7-3eaf333d062f" src="//cdn.wionews.com/sites/default/files/inline-images/24k%20inr%20dubai.PNG" />
&nbsp;

Gold prices in India have witnessed a considerable surge over the past 24 hours. The prices increased by INR 50 per gram for both 22-carat and 24-carat gold. As of Friday, March 10, 10 grams of 24-carat gold costs Rs.

Gold prices in India have witnessed a considerable surge over the past 24 hours. The prices increased by INR 50 per gram for both 22-carat and 24-carat gold. As of Friday, March 10, 10 grams of 24-carat gold costs Rs. 55,290 in India, while 10 grams of 22-carat gold costs Rs. 50,460. Gold prices rose in major Indian cities, with Chennai recording 24-carat gold prices of Rs. 52,285 for 10 grams and 22-carat gold prices of Rs. 47,927 for 10 grams. Meanwhile, the national capital Delhi has a gold rate of Rs. 55,680 for 24 carats (10 grams) and Rs. 51,050 for 22 carats (10 grams). Gold prices in Indian cities In Kolkata, the price of 24-carat gold (10 grams) is Rs. 55,530, while the price of 22-carat gold (10 grams) is Rs. 50,900. In Mumbai, 24-carat gold (10 grams) costs Rs. 55,530, while 22-carat gold (10 grams) costs Rs. 50,900. Gold prices are expected to rise as a result of global trends and the weakening of the Indian rupee against the US dollar. Investors and consumers who were planning to buy gold now have to pay more due to the unexpected price increase. Gold prices in Dubai, UAE As of March 10, 2023, the price of gold in Dubai has remained relatively stable. The price of 24-karat gold, which is the most popular type of gold in Dubai, is currently around AED 222.25 per gram. This is a slight increase from the previous day's price, which was around AED 220.75 per gram. The price of gold in Dubai is influenced by various factors, including global economic conditions, supply and demand, and geopolitical tensions. However, despite these factors, the current stable prices of gold in Dubai are expected to remain relatively unchanged in the short term. In terms of Indian Rupees, 10 grams of 24-carat gold costs INR 49,640 in Dubai. Whereas, 10 grams of 22-carat gold costs INR 45,678 in the Emirati Capital city. Here is the complete price list:

Gold prices today in India and Dubai, UAE: Check 22K and 24K gold rates here in INR and Dirhams (AED)

Gold was headed for biggest quarterly gain since pandemic-led surge in mid-2020. Gold's safe-haven appeal is also understood to have been bolstered by Ukraine crisis.

Spot gold XAU= was up 0.4% at $1,940.95 per ounce by 12:22 p.m. EDT (1622 GMT). For the month, bullion was up about 1.7%.

US gold futures GCv1 rose 0.4% to $1,946.90.

"The geopolitical situation has been dragging for a month now and inflation data continues to rise. So the overall sentiment in this market right now is people looking for safety," RJO Futures senior market strategist Bob Haberkorn said.

Gold is considered a safe investment during times of political and financial uncertainty.

Data showed U.S. consumer spending slowed significantly in February, while price pressures continued to mount, with the largest annual spike in inflation since the early 1980s. (Full Story)

Russia's invasion, which began on Feb. 24, has fuelled a rally in oil prices and industrial metals.

"We could see a pullback in gold if there is some positive news that comes out of the Russia-Ukraine conflict, but I think traders will look at that as a buying opportunity because of inflation fears," Haberkorn said.

The Federal Reserve has hinted toward aggressive rate hikes this year to fight against soaring inflation, which investors fear could send the U.S. economy into a recession.

A pullback in benchmark U.S. 10-year Treasury yields on Thursday also supported gold. US/

Silver XAG= inched 0.1% higher to $24.86 per ounce. Platinum XPT= fell 0.7% to $983.50. Both metals were set for quarterly gains.

Palladium XPD= rose 0.2% to $2,269.97 and was headed for its biggest quarterly jump since March 2020.&nbsp; 
&nbsp;

Gold was headed for biggest quarterly gain since pandemic-led surge in mid-2020. Gold's safe-haven appeal is also understood to have been bolstered by Ukraine crisis.

Gold was headed for biggest quarterly gain since pandemic-led surge in mid-2020. Gold's safe-haven appeal is also understood to have been bolstered by Ukraine crisis. Spot gold XAU= was up 0.4% at $1,940.95 per ounce by 12:22 p.m. EDT (1622 GMT). For the month, bullion was up about 1.7%. US gold futures GCv1 rose 0.4% to $1,946.90. "The geopolitical situation has been dragging for a month now and inflation data continues to rise. So the overall sentiment in this market right now is people looking for safety," RJO Futures senior market strategist Bob Haberkorn said. Gold is considered a safe investment during times of political and financial uncertainty. Data showed U.S. consumer spending slowed significantly in February, while price pressures continued to mount, with the largest annual spike in inflation since the early 1980s. (Full Story) Russia's invasion, which began on Feb. 24, has fuelled a rally in oil prices and industrial metals. "We could see a pullback in gold if there is some positive news that comes out of the Russia-Ukraine conflict, but I think traders will look at that as a buying opportunity because of inflation fears," Haberkorn said. The Federal Reserve has hinted toward aggressive rate hikes this year to fight against soaring inflation, which investors fear could send the U.S. economy into a recession. A pullback in benchmark U.S. 10-year Treasury yields on Thursday also supported gold. US/ Silver XAG= inched 0.1% higher to $24.86 per ounce. Platinum XPT= fell 0.7% to $983.50. Both metals were set for quarterly gains. Palladium XPD= rose 0.2% to $2,269.97 and was headed for its biggest quarterly jump since March 2020.

Gold poised for biggest quarterly gain in almost 2 years

Gold prices on Thursday clawed back from the previous session's 2-1/2 month low, as a retreat in U.S. Treasury yields lifted the non-yielding bullion's appeal.

Spot gold rose 0.3% to $1,781.50 per ounce by 0807 GMT, having dropped to its lowest since Nov. 30 at $1,768.60 on Wednesday. U.S. gold futures advanced 0.4% to $1,780.40.

"The U.S. long-dated yields backing off highs is offering some support. It also appears dip buyers from China have returned from Lunar New Year holidays," said OANDA senior market analyst Jeffrey Halley.

"In the bigger picture ... gold is merely pausing for breath, $1,760 remains a critical level, a break below that suggests deeper losses to the $1,600/$1,650 region."

Benchmark 10-year Treasury yields retreated from a near one-year peak hit on Wednesday. Lower yields reduce the opportunity cost of holding bullion, which pays no interest.

Federal Reserve officials were still prepared to keep monetary policy easy to help the coronavirus-hit economy, minutes of the Fed's January meeting showed.

Investor focus remained on the developments of a $1.9 trillion U.S. coronavirus stimulus.

U.S. retail sales rebounded in January, while U.S. producer prices increased by the most since 2009, suggesting inflation was starting to rise.

"Other asset classes as well as those within commodities are providing a more compelling investment payoff than gold presently," cautioned Michael Langford, director at corporate advisory AirGuide.

"We're seeing a re-allocation under renewed optimism, factory orders and general views of stronger underlying growth," Langford said, adding gold's typical attribute as an inflationary hedge was not enough to counter the strong demand for other assets.

Analysts also said the recent technical move of gold's 50-day moving average price dipping below the 200-day moving average, known as a death cross, could lead to more selling.

Silver eased 0.7% to $27.17 an ounce. Platinum gained 0.3% to $1,256.86 and palladium rose 0.1% to $2,372.59.

Gold prices on Thursday clawed back from the previous session's 2-1/2 month low, as a retreat in U.S. Treasury yields lifted the non-yielding bullion's appeal. Spot gold rose 0.

Gold prices on Thursday clawed back from the previous session's 2-1/2 month low, as a retreat in U.S. Treasury yields lifted the non-yielding bullion's appeal. Spot gold rose 0.3% to $1,781.50 per ounce by 0807 GMT, having dropped to its lowest since Nov. 30 at $1,768.60 on Wednesday. U.S. gold futures advanced 0.4% to $1,780.40. "The U.S. long-dated yields backing off highs is offering some support. It also appears dip buyers from China have returned from Lunar New Year holidays," said OANDA senior market analyst Jeffrey Halley. "In the bigger picture ... gold is merely pausing for breath, $1,760 remains a critical level, a break below that suggests deeper losses to the $1,600/$1,650 region." Benchmark 10-year Treasury yields retreated from a near one-year peak hit on Wednesday. Lower yields reduce the opportunity cost of holding bullion, which pays no interest. Federal Reserve officials were still prepared to keep monetary policy easy to help the coronavirus-hit economy, minutes of the Fed's January meeting showed. Investor focus remained on the developments of a $1.9 trillion U.S. coronavirus stimulus. U.S. retail sales rebounded in January, while U.S. producer prices increased by the most since 2009, suggesting inflation was starting to rise. "Other asset classes as well as those within commodities are providing a more compelling investment payoff than gold presently," cautioned Michael Langford, director at corporate advisory AirGuide. "We're seeing a re-allocation under renewed optimism, factory orders and general views of stronger underlying growth," Langford said, adding gold's typical attribute as an inflationary hedge was not enough to counter the strong demand for other assets. Analysts also said the recent technical move of gold's 50-day moving average price dipping below the 200-day moving average, known as a death cross, could lead to more selling. Silver eased 0.7% to $27.17 an ounce. Platinum gained 0.3% to $1,256.86 and palladium rose 0.1% to $2,372.59.

Gold off two and half months low as US Treasury yields retreat

The world economy is in desperate need of fiscal stimulus with investments drying up and economic activity slowing down again, however, countries have found a way to stave off an economic meltdown.

They are selling off gold reserves to strengthen their chequebook for the first time in a decade. Central banks have become net gold sellers combined together they have sold more gold than they bought. The logic is simple gold prices are at record highs, selling now means more money especially for countries reeling from the effects of the pandemic.

Turkey and Uzbekistan have done most of the selling. Turkey sold 22.3 tonnes of gold with its economy battered by the pandemic. Uzbekistan has sold 34.9 tonnes. It was largely in tune with the country's declared policy. Uzbekistan has been diversifying its reserves away from gold, overall central banks have sold 12 tonnes compared to their purchase of 141 tonnes last year.

Russia too joined in becoming a net seller for the first time in 13 years. Six countries however have continued their buying spree, chief among them are India, UAE and Qatar. The Reserve Bank of India bought 6.8 tonnes of gold and the UAE bought 7.4 tonnes with Qatar grabbing 6.2 tonnes.

India's gold demand plunged 30 per cent in the third quarter but it is expected to stage a recovery in Q4 especially with the ongoing festival season.&nbsp;

However, a slump could be around the corner. Traditionally, central banks have kept gold prices afloat, they have underpinned the stability of the gold bullion. A selling spree by these banks could trigger a collapse but experts feel this trend is temporary. Once the pandemic is under control, economies should be able to recover and central banks should return to being net buyers.

There is also the added cushion of rising investors' demand. Stock markets are too volatile right now. Oil is trading extremely low, so investors are looking at gold as a stable option. The surge in demand is expected to keep gold prices steady but the total gold supply has fallen 3 per cent this year with activity at mines remaining stalled by COVID-19 restrictions.

The great gold bailout is not a long-term solution. It will ultimately increase the pressure on central banks, the key, therefore, is not gold but a vaccine.

The world economy is in desperate need of fiscal stimulus with investments drying up and economic activity slowing down again, however, countries have found a way to stave off an economic meltdown.

The world economy is in desperate need of fiscal stimulus with investments drying up and economic activity slowing down again, however, countries have found a way to stave off an economic meltdown. They are selling off gold reserves to strengthen their chequebook for the first time in a decade. Central banks have become net gold sellers combined together they have sold more gold than they bought. The logic is simple gold prices are at record highs, selling now means more money especially for countries reeling from the effects of the pandemic. Turkey and Uzbekistan have done most of the selling. Turkey sold 22.3 tonnes of gold with its economy battered by the pandemic. Uzbekistan has sold 34.9 tonnes. It was largely in tune with the country's declared policy. Uzbekistan has been diversifying its reserves away from gold, overall central banks have sold 12 tonnes compared to their purchase of 141 tonnes last year. Russia too joined in becoming a net seller for the first time in 13 years. Six countries however have continued their buying spree, chief among them are India, UAE and Qatar. The Reserve Bank of India bought 6.8 tonnes of gold and the UAE bought 7.4 tonnes with Qatar grabbing 6.2 tonnes. India's gold demand plunged 30 per cent in the third quarter but it is expected to stage a recovery in Q4 especially with the ongoing festival season. However, a slump could be around the corner. Traditionally, central banks have kept gold prices afloat, they have underpinned the stability of the gold bullion. A selling spree by these banks could trigger a collapse but experts feel this trend is temporary. Once the pandemic is under control, economies should be able to recover and central banks should return to being net buyers. There is also the added cushion of rising investors' demand. Stock markets are too volatile right now. Oil is trading extremely low, so investors are looking at gold as a stable option. The surge in demand is expected to keep gold prices steady but the total gold supply has fallen 3 per cent this year with activity at mines remaining stalled by COVID-19 restrictions. The great gold bailout is not a long-term solution. It will ultimately increase the pressure on central banks, the key, therefore, is not gold but a vaccine.

Why countries are selling off gold reserves during pandemic

Why gold coveted by the Pharaohs is back in favour

Gold jumped more than 1% on Wednesday to its highest in nearly nine years, driven by a weaker dollar and as expectations of more stimulus to revive pandemic-hit economies lifted the metal’s appeal as an inflation-hedge.

Spot gold was up 0.8% at $1,856.13 per ounce by 0501 GMT, after hitting its highest since September 2011 at $1,865.35 earlier in the session. U.S. gold futures rose 0.7% to $1,856.80.

“The spectre of these stimulus packages has pushed investors back into non-yielding assets like gold,” said ANZ analyst Daniel Hynes.

“The likelihood of interest rates remaining low for the foreseeable future and the weaker U.S. dollar have really boosted investor appetite.”

European Union leaders on Tuesday sealed a 750 billion euro recovery plan, while White House officials and top congressional Democrats discussed another round of relief that would include extended unemployment insurance and more money for schools.

Helping bullion’s rally, the dollar index held near a more than four-month low. [USD/]

Coronavirus cases continued to surge in the United States, with President Donald Trump warning the virus would probably get worse before it gets better.

Underscoring the pandemic’s impact, Japan’s factory activity contracted for a 15th straight month in July.

Central banks have slashed interest rates and rolled out a wave of stimulus measures to cushion the economic damage from the pandemic, helping gold prices surge over 22% so far this year.

Silver continued to strengthen, rising 4.7% to $22.33 per ounce, its highest since October 2013.

“Silver spot prices have outperformed gold so far this month, an interesting reversal of the norm,” said Cailin Birch, global economist at The EIU, adding that it reflected market optimism for global industry, as silver has many industrial uses.

“Overall, we expect demand for safe-haven assets like gold and silver to remain relatively strong for the remainder of 2020.”

Palladium fell 1.1% to $2,133.32 and platinum lost 0.7% to $875.49.

Gold jumped more than 1% on Wednesday to its highest in nearly nine years, driven by a weaker dollar and as expectations of more stimulus to revive pandemic-hit economies lifted the metal’s appeal as an inflation-hedge.

Gold jumped more than 1% on Wednesday to its highest in nearly nine years, driven by a weaker dollar and as expectations of more stimulus to revive pandemic-hit economies lifted the metal’s appeal as an inflation-hedge. Spot gold was up 0.8% at $1,856.13 per ounce by 0501 GMT, after hitting its highest since September 2011 at $1,865.35 earlier in the session. U.S. gold futures rose 0.7% to $1,856.80. “The spectre of these stimulus packages has pushed investors back into non-yielding assets like gold,” said ANZ analyst Daniel Hynes. “The likelihood of interest rates remaining low for the foreseeable future and the weaker U.S. dollar have really boosted investor appetite.” European Union leaders on Tuesday sealed a 750 billion euro recovery plan, while White House officials and top congressional Democrats discussed another round of relief that would include extended unemployment insurance and more money for schools. Helping bullion’s rally, the dollar index held near a more than four-month low. [USD/] Coronavirus cases continued to surge in the United States, with President Donald Trump warning the virus would probably get worse before it gets better. Underscoring the pandemic’s impact, Japan’s factory activity contracted for a 15th straight month in July. Central banks have slashed interest rates and rolled out a wave of stimulus measures to cushion the economic damage from the pandemic, helping gold prices surge over 22% so far this year. Silver continued to strengthen, rising 4.7% to $22.33 per ounce, its highest since October 2013. “Silver spot prices have outperformed gold so far this month, an interesting reversal of the norm,” said Cailin Birch, global economist at The EIU, adding that it reflected market optimism for global industry, as silver has many industrial uses. “Overall, we expect demand for safe-haven assets like gold and silver to remain relatively strong for the remainder of 2020.” Palladium fell 1.1% to $2,133.32 and platinum lost 0.7% to $875.49.

Gold firms near nine-year peak on weaker dollar, stimulus bets

Gold prices in India hit a record high on Wednesday, tracking a global rally.

Local gold futures reached an all-time high of $670.32 (Rs 49,996) per 10 grams in early trade, taking their gains to 28 per cent in 2020 after rising a quarter in 2019.

However, the price rise dampened retail demand for gold in India, the world's second largest consumer of the precious metal.

In overseas market, spot gold jumped more than 1 per cent on Wednesday to its highest in nearly nine years, driven by a weaker dollar and safe-haven buying.

India's gold imports in the June quarter plunged 96 per cent from a year earlier to 13 tonnes after shipments virtually ground to a halt in April and May.

Local silver prices jumped nearly 6 per cent on Wednesday to Rs 60,782 per kg, the highest in over seven years. 
&nbsp;

Gold prices in India hit a record high on Wednesday, tracking a global rally. Local gold futures reached an all-time high of $670.32 (Rs 49,996) per 10 grams in early trade, taking their gains to 28 per cent in 2020 after rising a quarter in 2019.

Gold prices in India hit a record high on Wednesday, tracking a global rally. Local gold futures reached an all-time high of $670.32 (Rs 49,996) per 10 grams in early trade, taking their gains to 28 per cent in 2020 after rising a quarter in 2019. However, the price rise dampened retail demand for gold in India, the world's second largest consumer of the precious metal. In overseas market, spot gold jumped more than 1 per cent on Wednesday to its highest in nearly nine years, driven by a weaker dollar and safe-haven buying. India's gold imports in the June quarter plunged 96 per cent from a year earlier to 13 tonnes after shipments virtually ground to a halt in April and May. Local silver prices jumped nearly 6 per cent on Wednesday to Rs 60,782 per kg, the highest in over seven years.

India gold prices hit all-time high, dampen retail demand

Gold is shining the brightest in a market that is fraught with Coronavirus fears. Gold prices have touched a seven-year high. WION's Palki Sharma tells you why?

Gravitas: Gold glitters as pandemic worsens

Gold rose on Wednesday, propped up by lingering concerns over the <a href="https://www.wionews.com/business-economy/global-stocks-slide-to-two-week-low-on-china-virus-fears-safe-havens-gain-277082">economic impact of a coronavirus outbreak</a> in China, while investors awaited a policy decision from the US Federal Reserve later in the day.

Spot gold was up 0.3 per cent at $1,571.07 an ounce by 1125 GMT, <a href="https://www.wionews.com/business-economy/equities-and-oil-tank-plunge-as-deadly-coronavirus-triggers-panic-276900">having fallen</a> about 1 per cent in the previous session after positive US economic data drove recovery inequities. The US gold futures were little changed at $1,570.60 an ounce.

"The coronavirus will definitely have some impact on the Chinese economy and that will <a href="https://www.wionews.com/business-economy/oil-rout-extends-to-sixth-day-as-china-virus-death-toll-rises-277073">mostly affect the country's currency</a>, but an impulsive bull trend in gold is not expected yet," said Bernard Sin, group head of trading at MKS.

Safe-haven gold held aloft despite signs of stabilisation in <a href="https://www.wionews.com/business-economy/oil-slips-to-62-heads-for-weekly-loss-on-china-virus-concerns-276358">global stock markets</a> as equities investors tried to look past China's coronavirus outbreak, encouraged by better-than-expected company earnings.

While <a href="https://www.wionews.com/business-economy/barclays-sees-2-per-barrel-impact-to-oil-prices-as-virus-fears-threaten-demand-277075">rising stocks</a> are capping gold's gains, it is still being supported by other factors such as uncertainty around US President Donald Trump's impeachment and tensions in the Middle East, said Quantitative Commodity Research analyst Peter Fertig.

Also Read:&nbsp;<a href="https://www.wionews.com/business-economy/who-tempers-virus-fears-gold-eases-on-improved-risk-appetite-276399">Gold prices ease after WHO tempers coronavirus fears</a>

Risk aversion has not completely lifted, however. With the number of coronavirus fatalities now at 132 and 6,000 cases reported worldwide, there are fears the outbreak could inflict damage on Chinese growth. 
If there is an escalation, gold could reach $1,600, Jeffrey Halley, senior market analyst at OANDA, said in a note.

Investors are now waiting for the Fed's monetary policy statement at 1900 GMT. Possibly of greatest interest would be what if anything Fed Chair Jerome Powell has to say about the high Treasury purchases the Fed has been making since October to inject more liquidity into the money market, Commerzbank said in a note.

Lower interest rates reduce the opportunity cost of holding non-yielding bullion. "The main driver for gold this year will be strategic inflows, as it will continue to be viewed as an attractive diversifier for investor portfolios in an environment where rates remain low," UBS strategist Joni Teves said.

Elsewhere, palladium fell 0.7 per cent to $2,272.77 an ounce, while platinum was up 0.7 per cent at $992.45. Palladium will cost on average more than twice as much as platinum this year, but that premium will narrow in 2021. Silver rose 0.5 per cent 
&nbsp;to $17.51, having earlier dipped to its lowest since December 23 at $17.35. 
&nbsp;

Gold rose on Wednesday, propped up by lingering concerns over the economic impact of a coronavirus outbreak in China, while investors awaited a policy decision from the US Federal Reserve later in the day.

Gold rose on Wednesday, propped up by lingering concerns over the economic impact of a coronavirus outbreak in China, while investors awaited a policy decision from the US Federal Reserve later in the day. Spot gold was up 0.3 per cent at $1,571.07 an ounce by 1125 GMT, having fallen about 1 per cent in the previous session after positive US economic data drove recovery inequities. The US gold futures were little changed at $1,570.60 an ounce. "The coronavirus will definitely have some impact on the Chinese economy and that will mostly affect the country's currency, but an impulsive bull trend in gold is not expected yet," said Bernard Sin, group head of trading at MKS. Safe-haven gold held aloft despite signs of stabilisation in global stock markets as equities investors tried to look past China's coronavirus outbreak, encouraged by better-than-expected company earnings. While rising stocks are capping gold's gains, it is still being supported by other factors such as uncertainty around US President Donald Trump's impeachment and tensions in the Middle East, said Quantitative Commodity Research analyst Peter Fertig. Also Read: Gold prices ease after WHO tempers coronavirus fears Risk aversion has not completely lifted, however. With the number of coronavirus fatalities now at 132 and 6,000 cases reported worldwide, there are fears the outbreak could inflict damage on Chinese growth. If there is an escalation, gold could reach $1,600, Jeffrey Halley, senior market analyst at OANDA, said in a note. Investors are now waiting for the Fed's monetary policy statement at 1900 GMT. Possibly of greatest interest would be what if anything Fed Chair Jerome Powell has to say about the high Treasury purchases the Fed has been making since October to inject more liquidity into the money market, Commerzbank said in a note. Lower interest rates reduce the opportunity cost of holding non-yielding bullion. "The main driver for gold this year will be strategic inflows, as it will continue to be viewed as an attractive diversifier for investor portfolios in an environment where rates remain low," UBS strategist Joni Teves said. Elsewhere, palladium fell 0.7 per cent to $2,272.77 an ounce, while platinum was up 0.7 per cent at $992.45. Palladium will cost on average more than twice as much as platinum this year, but that premium will narrow in 2021. Silver rose 0.5 per cent to $17.51, having earlier dipped to its lowest since December 23 at $17.35.

Investors await signal from the US Federal Reserve, virus concerns felt across the world

Gold firmed on Thursday, edging back towards the three-month peak it reached earlier in the week on the back of dollar weakness, with the market focusing on minutes of the US&nbsp;Federal Reserve's December policy meeting.

Spot gold was up 0.4 per cent&nbsp;to $1,523.12 per ounce as of 1248 GMT, having touched its highest since Sept. 25 at $1,525.20 on Tuesday. The US&nbsp;gold futures were up 0.2 per cent&nbsp;at $1,525.80.

"We are seeing a bit of a bounce-back&nbsp;in the dollar but if you look at the movements that we saw (in the past few days), it is probably supporting gold in the interim," said OANDA analyst Craig Erlam.

The negative correlation between the <a href="https://www.wionews.com/business-economy/dollar-snaps-six-day-losing-streak-a-flat-start-for-2020-271653">dollar</a> and bullion is what really propelled gold from $1,480 to $1,520, he said, but further upside in the US&nbsp;currency could put pressure on gold.

Against key rivals, the dollar was up 0.3 per cent&nbsp;this session but was trading not far from the six-month low it touched on Tuesday.

Beijing's decision to ease monetary policy further supported bullion, <a href="https://www.wionews.com/business-economy/sterling-rebounds-on-eve-of-uk-election-267749">Erlam</a> added.

China's central bank on Wednesday said it was cutting the amount of cash that all banks must hold as reserves, releasing funds to shore up the slowing economy.

Bullion prices posted their biggest annual rise in nearly a decade in 2019, boosted by the drawn-out trade war between the <a href="https://www.wionews.com/world/china-halts-british-stock-link-over-political-tensions-sources-271591">United States and China</a> that dragged on global economic growth.

Many analysts said prices were likely to rise further in 2020, with shaky growth and global stock markets potentially looking unsustainable at record highs.

"A key thing to look out for is stock markets, which have been setting new highs," said Brian Lan, managing director at dealer GoldSilver Central in Singapore. "In case there is some correction, we (could) see some capital flows into gold."

<a href="https://www.wionews.com/world/united-kingdoms-new-government-increases-minimum-wage-to-ps872-271242">Brexit</a>, the US&nbsp;presidential election, <a href="https://www.wionews.com/world/hong-kong-protests-severely-challenged-one-country-two-systems-principle-xi-in-his-new-year-address-271325">protests in Hong Kong</a> and <a href="https://www.wionews.com/world/kim-says-north-korea-to-show-new-strategic-weapon-leaves-room-for-talks-271331">tensions with North Korea</a> would be the other key factors for the market this year, he said.

Investor focus has now turned to the minutes of the <a href="https://www.wionews.com/business-economy/gold-climbs-to-three-month-high-poised-for-best-year-since-2010-271231">Federal Reserve's</a> December&nbsp;10-11 policy meeting, due at 1900 GMT on Friday. Lower interest rates encourage the buying of non-interest-paying bullion.

"Friday's US&nbsp;manufacturing ISM and the December <a href="https://www.wionews.com/business-economy/global-markets-asian-shares-buoyed-by-wall-st-rally-but-china-worry-caps-gains-267070">Federal Open Market Committee</a> (FOMC) minutes could provide an impulse," <a href="https://www.wionews.com/business-economy/oil-prices-surge-after-us-strike-kills-iranian-general-271775">Stephen Innes</a>, a market strategist at AxiTrader said in a note.

Among other precious metals, silver gained 0.5 per cent&nbsp;to $17.92 per ounce, while platinum rose 1.7 per cent&nbsp;to $979.65 and palladium edged up 0.4 per cent&nbsp;to $1,947.37 per ounce.

Gold firmed on Thursday, edging back towards the three-month peak it reached earlier in the week on the back of dollar weakness, with the market focusing on minutes of the US Federal Reserve's December policy meeting.

Gold firmed on Thursday, edging back towards the three-month peak it reached earlier in the week on the back of dollar weakness, with the market focusing on minutes of the US Federal Reserve's December policy meeting. Spot gold was up 0.4 per cent to $1,523.12 per ounce as of 1248 GMT, having touched its highest since Sept. 25 at $1,525.20 on Tuesday. The US gold futures were up 0.2 per cent at $1,525.80. "We are seeing a bit of a bounce-back in the dollar but if you look at the movements that we saw (in the past few days), it is probably supporting gold in the interim," said OANDA analyst Craig Erlam. The negative correlation between the dollar and bullion is what really propelled gold from $1,480 to $1,520, he said, but further upside in the US currency could put pressure on gold. Against key rivals, the dollar was up 0.3 per cent this session but was trading not far from the six-month low it touched on Tuesday. Beijing's decision to ease monetary policy further supported bullion, Erlam added. China's central bank on Wednesday said it was cutting the amount of cash that all banks must hold as reserves, releasing funds to shore up the slowing economy. Bullion prices posted their biggest annual rise in nearly a decade in 2019, boosted by the drawn-out trade war between the United States and China that dragged on global economic growth. Many analysts said prices were likely to rise further in 2020, with shaky growth and global stock markets potentially looking unsustainable at record highs. "A key thing to look out for is stock markets, which have been setting new highs," said Brian Lan, managing director at dealer GoldSilver Central in Singapore. "In case there is some correction, we (could) see some capital flows into gold." Brexit, the US presidential election, protests in Hong Kong and tensions with North Korea would be the other key factors for the market this year, he said. Investor focus has now turned to the minutes of the Federal Reserve's December 10-11 policy meeting, due at 1900 GMT on Friday. Lower interest rates encourage the buying of non-interest-paying bullion. "Friday's US manufacturing ISM and the December Federal Open Market Committee (FOMC) minutes could provide an impulse," Stephen Innes, a market strategist at AxiTrader said in a note. Among other precious metals, silver gained 0.5 per cent to $17.92 per ounce, while platinum rose 1.7 per cent to $979.65 and palladium edged up 0.4 per cent to $1,947.37 per ounce.

Gold rises back towards three-month high, markets eye Fed minutes

<a href="https://www.wionews.com/business-economy/gold-hits-two-month-peak-on-dollar-weakness-us-strikes-270962">Gold</a>&nbsp;prices jumped to their highest in more than three months on Tuesday on a weakening dollar, with the metal on track for its best annual show in nearly a decade, while palladium leapt towards its fourth straight yearly gain.

Spot&nbsp;gold&nbsp;hit its highest since September&nbsp;25 at $1,525.20 and was up 0.6 per cent to $1,524.44 per ounce by 0727 GMT. U.S.&nbsp;gold&nbsp;futures rose 0.6 per cent to $1,527.60.

Bullion has gained nearly 19 per cent in the year, its biggest since 2010, mainly driven by a tariff war between the United States and China, which triggered monetary policy easing by major central banks.

"One of the main drivers behind&nbsp;gold's gain is the weakening in the dollar," said Margaret Yang Yan, a market analyst at CMC Markets, adding prices also rose on year-end bargain-hunting.

The dollar slipped against a basket of rivals, making&nbsp;gold&nbsp;cheaper for holders of other currencies.

"However, the upside is kind of limited because quantitative easing or rate-cutting cycle has come to an end for now and we don't see a possibility of any rate cuts in 2020," Yan said.

The <a href="https://www.wionews.com/business-economy/gold-soars-2-per-cent-after-powell-speech-trump-tweets-245351">US&nbsp;Federal Reserve</a> cut interest rates three times this year before taking a pause. Lower interest rates reduce the opportunity cost of holding the non-yielding bullion.

On the trade front, a <a href="https://www.wionews.com/world/phase-one-trade-deal-with-china-would-be-signed-very-shortly-donald-trump-269576">Phase 1 deal</a> is likely to be signed next week, White House trade adviser Peter Navarro said on Monday.

"With liquidity much reduced in Asia, there is some potential for&nbsp;gold&nbsp;to spike higher on low volume with some risk hedging added into the mix," said Jeffrey Halley, senior market analyst, Asia Pacific at OANDA, in a note. "The next resistance is at $1,535 an ounce."

Further supporting&nbsp;gold, Asian shares slipped as investors locked in gains after a buoyant year of gains.

Speculators raised their bullish positions in COMEX&nbsp;gold&nbsp;contracts in the week to December&nbsp;24.

Elsewhere, palladium rose 0.3 per cent to $1,913.02 per ounce. Plagued by sustained supply deficit, the auto-catalyst metal extended gains into a fourth straight year.

Prices have jumped over 51 per cent so far this year, the most since 2017, which would make palladium the biggest gainer among precious metals for the year.

<a href="https://www.wionews.com/business-economy/deficit-hit-palladium-takes-aim-at-2000-ceiling-in-record-run-268725">Palladium</a>, used mainly in catalytic converters in vehicles, rose to an all-time peak of $1,998.43 on December&nbsp;17.

Silver rose 1.1 per cent to $18.10 and was poised to register its best year since 2010, rising about 17 per cent.

Platinum gained 1.4 per cent to $971.09 and was set to gain about 23 per cent for the year, its best since 2009.

Gold prices jumped to their highest in more than three months on Tuesday on a weakening dollar, with the metal on track for its best annual show in nearly a decade, while palladium leapt towards its fourth straight yearly gain.

Gold prices jumped to their highest in more than three months on Tuesday on a weakening dollar, with the metal on track for its best annual show in nearly a decade, while palladium leapt towards its fourth straight yearly gain. Spot gold hit its highest since September 25 at $1,525.20 and was up 0.6 per cent to $1,524.44 per ounce by 0727 GMT. U.S. gold futures rose 0.6 per cent to $1,527.60. Bullion has gained nearly 19 per cent in the year, its biggest since 2010, mainly driven by a tariff war between the United States and China, which triggered monetary policy easing by major central banks. "One of the main drivers behind gold's gain is the weakening in the dollar," said Margaret Yang Yan, a market analyst at CMC Markets, adding prices also rose on year-end bargain-hunting. The dollar slipped against a basket of rivals, making gold cheaper for holders of other currencies. "However, the upside is kind of limited because quantitative easing or rate-cutting cycle has come to an end for now and we don't see a possibility of any rate cuts in 2020," Yan said. The US Federal Reserve cut interest rates three times this year before taking a pause. Lower interest rates reduce the opportunity cost of holding the non-yielding bullion. On the trade front, a Phase 1 deal is likely to be signed next week, White House trade adviser Peter Navarro said on Monday. "With liquidity much reduced in Asia, there is some potential for gold to spike higher on low volume with some risk hedging added into the mix," said Jeffrey Halley, senior market analyst, Asia Pacific at OANDA, in a note. "The next resistance is at $1,535 an ounce." Further supporting gold, Asian shares slipped as investors locked in gains after a buoyant year of gains. Speculators raised their bullish positions in COMEX gold contracts in the week to December 24. Elsewhere, palladium rose 0.3 per cent to $1,913.02 per ounce. Plagued by sustained supply deficit, the auto-catalyst metal extended gains into a fourth straight year. Prices have jumped over 51 per cent so far this year, the most since 2017, which would make palladium the biggest gainer among precious metals for the year. Palladium, used mainly in catalytic converters in vehicles, rose to an all-time peak of $1,998.43 on December 17. Silver rose 1.1 per cent to $18.10 and was poised to register its best year since 2010, rising about 17 per cent. Platinum gained 1.4 per cent to $971.09 and was set to gain about 23 per cent for the year, its best since 2009.

Gold climbs to three-month high, poised for best year since 2010

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