Gold Declines Globally – Details - Jordan News

6 days ago

Gold prices held steady on Tuesday, remaining near their lowest level in three weeks, as easing fears of a global trade war and a stronger dollar reduced the appeal of the metal as a safe haven. اضافة اعلان Spot gold was priced at $3,318.71 per ounce as of 06:01 GMT. The precious metal had hit its lowest level since July 9 during the previous session. Meanwhile, U.S. gold futures rose by 0.2% to $3,317.50. Tim Waterer, Chief Market Analyst at KCM Trade, said: "Gold trading near or below $3,300 continues to attract buyer interest. Although short-term market factors such as trade agreements and dollar strength are not currently supportive of gold, the longer-term outlook remains positive." On Monday, top economic officials from the United States and China met in Stockholm for more than five hours of talks aimed at resolving ongoing economic disputes between the world's two largest economies, and seeking to extend the current tariff truce by three months. Separately, the U.S. reached a preliminary trade agreement with the European Union on Sunday, under which a 15% import tariff was imposed on most European goods—half the initially threatened rate—thereby preventing a broader trade war between the two allies, who together account for about one-third of global trade. The U.S. Dollar Index (.DXY) hit a two-week high, making gold more expensive for holders of other currencies. Investors this week are closely watching for key U.S. economic data, including inflation indicators, the employment report, and the Federal Reserve meeting set to begin later today, with expectations that interest rates will remain unchanged. Waterer added that if U.S. data comes in weak or if criticism from former President Donald Trump pushes the Fed toward a more dovish tone, that could be supportive of gold. As for other precious metals: Spot silver held steady at $38.18 per ounce. Platinum slipped by 0.1% to $1,388.98.
Palladium dropped 1.7% to $1,225.44, according to Reuters.

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Jordan News

5 hours ago

Jordan News

U.S. Dollar Declines Amid Growing Expectations of a Fed Rate Cut - Jordan News

The U.S. dollar declined on Tuesday as growing expectations that the Federal Reserve may proceed with an interest rate cut weighed on market sentiment. Investors are also assessing the broader economic impact of the U.S. tariffs that came into effect last week. اضافة اعلان According to Bloomberg, the dollar had strengthened on Monday but fell during early trading today. In the latest trading, the euro stood at $1.1579, while the British pound held steady at $1.3298. The U.S. Dollar Index, which measures the greenback against a basket of six major currencies, registered 98.688 points, after touching a one-week low earlier in the session.

'Israel' approves aid entry plan for Gaza via private groups

Roya News

8 hours ago

Roya News

'Israel' approves aid entry plan for Gaza via private groups

'Israel' announced plans to partially resume private sector trade with Gaza in an effort to reduce the territory's heavy reliance on humanitarian aid, according to the Civil Affairs Agency for the Palestinian Territories (COGAT) on Tuesday. COGAT explained that the initiative involves allowing a limited number of local merchants to trade under strict conditions. 'As part of formulating the mechanism, a limited number of local merchants were approved by the defence establishment, subject to several criteria and strict security screening,' the agency said. Since March 2, the Israeli Occupation has enforced a full blockade on Gaza amid its 22-month aggression on the strip. Although the blockade was partially eased in May to permit a US-backed private organization to operate food distribution centers, humanitarian needs remain severe. Last month, aid convoys and airdrops conducted by Arab and European forces resumed, following UN expert reports warning that famine is looming in the war-torn region. Under the new trade mechanism, private sector deliveries will be carefully regulated. Payments must be made through monitored bank transfers, and all goods will undergo inspections by the Israeli military before entering Gaza to 'prevent the involvement of the Hamas terrorist organisation,' COGAT emphasized. The approved items for trade will include essential food staples, fresh fruits and vegetables, baby formula, and hygiene products, marking a cautious step toward easing Gaza's humanitarian crisis.

Gold extends rally as weak jobs data fuels hopes for fed rate cut

Al Bawaba

9 hours ago

Al Bawaba

Gold extends rally as weak jobs data fuels hopes for fed rate cut

Published August 5th, 2025 - 07:33 GMT Spot gold rose by 0.1% to $3,375.89 per ounce, while U.S. gold futures also edged up 0.1% to $3,430.40. The yield on the benchmark 10-year U.S. ALBAWABA- Gold prices climbed for the fourth consecutive session on Monday, buoyed by a weakening U.S. dollar and falling Treasury yields, after disappointing U.S. jobs data increased expectations of an interest rate cut by the Federal Reserve in September. Also Read Russia ends missile moratorium amid escalating tensions with U.S. Spot gold rose by 0.1% to $3,375.89 per ounce, while U.S. gold futures also edged up 0.1% to $3,430.40. The yield on the benchmark 10-year U.S. Treasury note dropped to its lowest level in a month, further supporting gold's upward momentum. — Gaurav Trades✨📊 (@Gaurav_faxxuusd) August 5, 2025 Among other precious metals, spot silver gained 0.1% to reach $37.44 an ounce. Platinum added 0.1% to trade at $1,330.31, and palladium advanced 0.2% to $1,204.25 per ounce. The combination of weaker economic indicators and shifting investor sentiment toward a possible rate cut has continued to strengthen demand for safe-haven assets like gold. © 2000 - 2025 Al Bawaba (