Latest news with #Tastylive
Business Recorder
09-07-2025
- Business
- Business Recorder
Gold hovers near one-week low as firmer US dollar, yields weigh
Gold prices hovered on Wednesday near their lowest point in more than one week, under pressure from a stronger U.S. dollar and rising Treasury yields, as fresh tariff threats from U.S. President Donald Trump unsettled markets. Spot gold held its ground at $3,301.50 per ounce as of 0234 GMT. U.S. gold futures fell 0.2% to $3,310.10. Trump said he would impose a 50% tariff on imported copper and introduce long-threatened levies on semiconductors and pharmaceuticals. Trump reiterated his threat of 10% tariffs on BRICS nations on Tuesday, a day after notifying 14 countries, including Japan and South Korea, of tariff increases set to take effect on August 1. The U.S. dollar index steadied after nearing a two-week high late on Tuesday, while the yield on benchmark 10-year U.S. Treasury notes hovered near a three-week high. 'Gold prices are holding up impressively well this month against a backdrop of rising yields and a strengthening U.S. dollar … its ability to resist the pressure suggests underlying strength and a bullish bias,' said Ilya Spivak, head of global macro at Tastylive. Higher yield increases the opportunity cost of holding non-yielding bullion, while a weaker dollar makes gold more affordable for holders of other currencies. Investors will closely examine the U.S. Federal Reserve's latest meeting minutes, due later in the day, for hints of potential interest rate cuts amid the central bank's wait-and-see approach. 'It's a light week for economic data, but how prices react to minutes from June's FOMC meeting may help establish where we are in Fed vs. markets policy debate,' Spivak said. Meanwhile, Americans' inflation outlook remained stable, with the New York Fed's latest survey showing one-year inflation estimates at 3%, down from 3.2% in May, while the three- and five-year expectations stayed at 3% and 2.6%, respectively. Spot silver fell 0.5% at $36.58 per ounce, platinum was down 0.8% at $1,348.78 and palladium lost 0.4% to $1,106.29.
CNBC
09-07-2025
- Business
- CNBC
Gold hovers near one-week low as firmer US dollar, yields weigh
Gold prices hovered on Wednesday near their lowest point in more than one week, under pressure from a stronger U.S. dollar and rising Treasury yields, as fresh tariff threats from U.S. President Donald Trump unsettled markets. Spot gold held its ground at $3,301.50 per ounce as of 0234 GMT. U.S. gold futures fell 0.2% to $3,310.10. Trump said he would impose a 50% tariff on imported copper and introduce long-threatened levies on semiconductors and pharmaceuticals. Trump reiterated his threat of 10% tariffs on BRICS nations on Tuesday, a day after notifying 14 countries, including Japan and South Korea, of tariff increases set to take effect on August 1. The U.S. dollar index steadied after nearing a two-week high late on Tuesday, while the yield on benchmark 10-year U.S. Treasury notes hovered near a three-week high. "Gold prices are holding up impressively well this month against a backdrop of rising yields and a strengthening U.S. dollar ... its ability to resist the pressure suggests underlying strength and a bullish bias," said Ilya Spivak, head of global macro at Tastylive. Higher yield increases the opportunity cost of holding non-yielding bullion, while a weaker dollar makes gold more affordable for holders of other currencies. Investors will closely examine the U.S. Federal Reserve's latest meeting minutes, due later in the day, for hints of potential interest rate cuts amid the central bank's wait-and-see approach. "It's a light week for economic data, but how prices react to minutes from June's FOMC meeting may help establish where we are in Fed vs. markets policy debate," Spivak said. Meanwhile, Americans' inflation outlook remained stable, with the New York Fed's latest survey showing one-year inflation estimates at 3%, down from 3.2% in May, while the three- and five-year expectations stayed at 3% and 2.6%, respectively. Spot silver fell 0.5% at $36.58 per ounce, platinum was down 0.8% at $1,348.78 and palladium lost 0.4% to $1,106.29.
Zawya
09-07-2025
- Business
- Zawya
Gold hovers near one-week low as firmer US dollar, yields weigh
Gold prices hovered on Wednesday near their lowest point in more than one week, under pressure from a stronger U.S. dollar and rising Treasury yields, as fresh tariff threats from U.S. President Donald Trump unsettled markets. Spot gold held its ground at $3,301.50 per ounce as of 0234 GMT. U.S. gold futures fell 0.2% to $3,310.10. Trump said he would impose a 50% tariff on imported copper and introduce long-threatened levies on semiconductors and pharmaceuticals. Trump reiterated his threat of 10% tariffs on BRICS nations on Tuesday, a day after notifying 14 countries, including Japan and South Korea, of tariff increases set to take effect on August 1. The U.S. dollar index steadied after nearing a two-week high late on Tuesday, while the yield on benchmark 10-year U.S. Treasury notes hovered near a three-week high. "Gold prices are holding up impressively well this month against a backdrop of rising yields and a strengthening U.S. dollar ... its ability to resist the pressure suggests underlying strength and a bullish bias," said Ilya Spivak, head of global macro at Tastylive. Higher yield increases the opportunity cost of holding non-yielding bullion, while a weaker dollar makes gold more affordable for holders of other currencies. Investors will closely examine the U.S. Federal Reserve's latest meeting minutes, due later in the day, for hints of potential interest rate cuts amid the central bank's wait-and-see approach. "It's a light week for economic data, but how prices react to minutes from June's FOMC meeting may help establish where we are in Fed vs. markets policy debate," Spivak said. Meanwhile, Americans' inflation outlook remained stable, with the New York Fed's latest survey showing one-year inflation estimates at 3%, down from 3.2% in May, while the three- and five-year expectations stayed at 3% and 2.6%, respectively. Spot silver fell 0.5% at $36.58 per ounce, platinum was down 0.8% at $1,348.78 and palladium lost 0.4% to $1,106.29.
Yahoo
09-07-2025
- Business
- Yahoo
Gold hovers near one-week low as firmer US dollar, yields weigh
By Anmol Choubey (Reuters) -Gold prices hovered on Wednesday near their lowest point in more than one week, under pressure from a stronger U.S. dollar and rising Treasury yields, as fresh tariff threats from U.S. President Donald Trump unsettled markets. Spot gold held its ground at $3,301.50 per ounce as of 0234 GMT. U.S. gold futures fell 0.2% to $3,310.10. Trump said he would impose a 50% tariff on imported copper and introduce long-threatened levies on semiconductors and pharmaceuticals. Trump reiterated his threat of 10% tariffs on BRICS nations on Tuesday, a day after notifying 14 countries, including Japan and South Korea, of tariff increases set to take effect on August 1. The U.S. dollar index steadied after nearing a two-week high late on Tuesday, while the yield on benchmark 10-year U.S. Treasury notes hovered near a three-week high. [USD/] [US/] "Gold prices are holding up impressively well this month against a backdrop of rising yields and a strengthening U.S. dollar ... its ability to resist the pressure suggests underlying strength and a bullish bias," said Ilya Spivak, head of global macro at Tastylive. Higher yield increases the opportunity cost of holding non-yielding bullion, while a weaker dollar makes gold more affordable for holders of other currencies. Investors will closely examine the U.S. Federal Reserve's latest meeting minutes, due later in the day, for hints of potential interest rate cuts amid the central bank's wait-and-see approach. "It's a light week for economic data, but how prices react to minutes from June's FOMC meeting may help establish where we are in Fed vs. markets policy debate," Spivak said. Meanwhile, Americans' inflation outlook remained stable, with the New York Fed's latest survey showing one-year inflation estimates at 3%, down from 3.2% in May, while the three- and five-year expectations stayed at 3% and 2.6%, respectively. Spot silver fell 0.5% at $36.58 per ounce, platinum was down 0.8% at $1,348.78 and palladium lost 0.4% to $1,106.29. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Recorder
02-07-2025
- Business
- Business Recorder
Gold prices ease ahead of US data as investors weigh Fed rate stance
Gold prices edged lower on Wednesday as investors awaited US payroll data and assessed Federal Reserve Chair Jerome Powell's cautious stance on rate cuts, although a weaker dollar helped limit losses for greenback-priced bullion. Spot gold was down 0.2% at $3,330.68 per ounce, as of 0217 GMT, while US gold futures fell 0.3% to $3,340.60. The US dollar index weakened to its lowest point in more than three years, making bullion more affordable for holders of other currencies. 'Gold prices are consolidating after posting the strongest gains in two weeks. The overall trend bias continues to favour the upside for now,' said Ilya Spivak, head of global macro at Tastylive, adding Fed policy expectations are taking center stage at the moment. Powell reiterated that the US central bank plans to 'wait and learn more' about the impact of tariffs on inflation before lowering interest rates, again setting aside US President Donald Trump's demands for immediate and deep rate cuts. US job openings unexpectedly increased in May, but a decline in hiring added to signs that the labour market had shifted into lower gear amid uncertainty over the Trump administration's tariffs on imports. Investors are now awaiting US ADP employment data, due later in the day, and nonfarm payroll figures on Thursday for further insights into labour market conditions. 'The biggest risk for gold is an unexpectedly strong (NFP)result, but that seems rather unlikely to happen,' Spivak said. Meanwhile, US Senate Republicans narrowly passed Trump's tax-and-spending bill on Tuesday, a package cutting taxes, reducing social safety net programmes, and boosting military spending, while adding $3.3 trillion to the national debt. Trump expressed optimism on Tuesday about a potential trade deal with India but was skeptical about reaching a similar agreement with Japan. He added that he was not considering an extension of the July 9 deadline for countries to negotiate trade deals. Spot silver edged down 0.1% to $36.01 per ounce, platinum fell 0.4% to $1,344.91, while palladium gained 0.4% to $1,104.92.
