Gold rises as weaker dollar
Ammon News - Gold edged higher on Thursday, supported by a weaker dollar and growing uncertainty after reports suggested U.S. President Donald Trump was considering replacing Federal Reserve Chair Jerome Powell as early as September or October.
The reports raised concerns over the future independence of the U.S. central bank, boosting demand for safe-haven bullion.
Spot gold was up 0.1% at $3,336.02 per ounce, as of 0640 GMT. U.S. gold futures rose 0.2% to $3,349.30.
The dollar fell to its lowest level since March 2022, making greenback-priced gold less expensive for overseas buyers.
Powell told a U.S. Senate panel on Wednesday that while Trump's tariffs may cause a one-time price hike, the risk of persistent inflation is significant enough for the Fed to be cautious about further rate cuts.
Spot silver edged up 0.1% to $36.34 per ounce, platinum firmed 1.8% to $1,379.58, while palladium rose 3.4% to $1,093.70. Reuters
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Ammon
an hour ago
- Ammon
Gov't decides to reduce customs duties on cars by 20%
Ammon News - The government will hold a press conference at 4:00 pm on Saturday to announce details of the reduction in customs duties on vehicles in the Kingdom. According to Ammon's sources, the reduction in customs duties, which went into effect on Saturday morning, applies to all categories of vehicles, including gasoline, electric, and hybrid, and from various manufacturers. Customs duties on gasoline and hybrid vehicles will be reduced by 20%, while customs duties on electric vehicles will be unified at 27% and the tiered system will be abolished. The decision includes the implementation of a new Jordanian vehicle specification that is close to the Gulf vehicle specifications, and will be announced at the press conference. No exceptions will be made to the decision. Regarding salvage vehicles, the government has decided not to import salvage vehicles into Jordan.
Al Bawaba
3 hours ago
- Al Bawaba
Iran is ready to resume nuclear talks with the US
Published June 28th, 2025 - 11:21 GMT ALBAWABA - Iranian Foreign Minister Abbas Araghchi expressed his country's basic willingness to resume nuclear negotiations with the United States, although he called on US President Donald Trump to tone down his rhetoric. Also Read 'Assassinate the Mind': Iran's leader slams Israeli strike goals In a post on the social media platform X, Araghchi said, "If President Trump is sincere in his desire to reach an agreement, he must put aside his disrespectful and unacceptable tone toward Supreme Leader Ali Khamenei and stop harming millions of his loyal followers." Trump stated at a recent summit that new talks with Iran would be held next week, but he did not provide any details. A sixth round of US-Iran talks scheduled for Amman on June 15 was cancelled after Israeli strikes on Iranian targets two days earlier. Amid the exchange of attacks between Iran and Israel, US forces bombed key Iranian nuclear sites. In statements to Iranian state television, Araghchi confirmed for the first time that the attacks caused "significant" damage to Iran's nuclear infrastructure. © 2000 - 2025 Al Bawaba (
Ammon
3 hours ago
- Ammon
Deputising for Crown Prince, youth minister launches Hussein Youth Camps for Work, Construction
Ammon News - Deputising for HRH Crown Prince Hussein bin Abdullah II, Minister of Youth, Yazan Shdeifat, on Saturday launched Hussein Youth Camps for Work and Construction 2025, held under the slogan: "Amman, the Capital of Arab Youth." Talking at the opening ceremony, Shdeifat noted the camps, which were launched fifty-seven years ago, represent a "solid" national milestone that "enshrine values ??of allegiance and and loyalty and contributes to preparing a generation that possesses awareness and the ability to give." The minister added that the camps are "practical" platforms for capacity building and shaping leadership among Jordanian youth. Shdeifat noted that this year's camps feature "advanced, qualitative" content, including economic empowerment, vocational and technical training, digital skills, political empowerment, gaming, entrepreneurship, and scouting activities. Shdeifat said the Ministry is working to transform youth energies into "productive opportunities and provide a safe" training and awareness environment that keeps pace with global developments and connects youth to needs of the labor market and society. During the ceremony, the minister announced the launch of the 3rd edition of Al Hussein bin Abdullah II Award for Volunteer Work, as registration is opened via the link on the award's website. The initiative, he noted, reflects HRH Crown Prince's vision to "instill a culture of volunteering and motivate youth to embrace this approach. The ministry is organizing this year's camps, both overnight and daytime, with the engagement of 8,508 young men and women, in partnership with official and civil society institutions, and partners from the public and private sectors. Under these camps, activities are held for scouting, entrepreneurship, artificial intelligence and robotics, digital skills, future technology, and political empowerment. Other camps focus on game development, health and youth, intellectual property, vocational training and technical education, and economic empowerment events. Meanwhile, the daytime camps are set to see sports and physical activity activities, climate change events, "Rescue Arms," ??and youth, peace, and security camps in light of UN Resolution 2250. The agenda also features camps for political and party participation, e-commerce, and artificial intelligence and cybersecurity activities. The camps, which are part of a comprehensive national plan, are scheduled to continue until August 30, aimed to strengthen the Jordanian youth's value system, consolidate their culture of participation, develop their life and community skills, enhance their role as true partners in sustainable development to shape the future. Petra
