Latest news with #TimWaterer
Jordan News
2 days ago
- Business
- Jordan News
Gold Rebounds from Over One-Month Low as Dollar Weakens - Jordan News
Gold Rebounds from Over One-Month Low as Dollar Weakens Gold reversed course and edged higher on Monday, supported by a weaker dollar, after earlier touching its lowest level in over a month. The bounce comes as easing trade tensions between the U.S. and China reduced safe-haven demand and boosted risk appetite. اضافة اعلان Spot gold rose 0.1% to $3,277.62 per ounce as of 04:21 GMT, after hitting its lowest since May 29 earlier in the session. U.S. gold futures held steady at $3,288.90. Tim Waterer, chief market analyst at KCM Trade, said: "Expectations around tariff talks and developments in the Middle East seem less pessimistic, which is weakening gold's appeal compared to riskier assets." Asian stocks rose alongside gains in Wall Street futures, while the U.S. dollar index slipped 0.2%. A weaker dollar makes dollar-priced gold more affordable for holders of other currencies. U.S. Treasury Secretary Scott Baisent said Friday that the U.S. and China had resolved issues over shipments of rare earth metals and magnets to the U.S., adding that the Trump administration's various trade deals with other countries could be finalized by Labor Day on September 1. Canada also scrapped its digital services tax targeting U.S. tech firms late Sunday—just hours before its implementation—in a bid to revive stalled trade negotiations with the U.S. Meanwhile, the ceasefire between Iran and Israel, following a 12-day conflict, appears to be holding, further reducing safe-haven demand. Although the dollar remains under pressure, which limits gold's downside, the $3,250 level remains a key support zone. A break below that could accelerate losses toward $3,200, according to Waterer. Generally, geopolitical and economic stability dampens demand for gold as a safe-haven asset, and rising interest rates reduce the appeal of non-yielding assets like gold. Spot silver rose 0.5% to $36.14 per ounce. Platinum climbed 1.9% to $1,364.74. Palladium gained 1.5% to $1,150.50. — (Agencies) اطرح سؤالك على ChatGPT
The Star
3 days ago
- Business
- The Star
Gold rebounds from over one-month low on weaker dollar
Gold reversed course and edged higher on Monday, supported by a weaker dollar, after hitting a more than one-month low earlier as easing U.S.-China trade tensions dampened safe-haven demand and bolstered risk appetite. Spot gold rose 0.5% to US$3,290 per ounce, as of 0613 GMT, after hitting its lowest since May 29 earlier in the session. U.S. gold futures were up 0.4% at US$3,301. "There is less of a 'doom and gloom' outlook surrounding both tariff talks and events in the Middle East, which is relegating gold to play second fiddle to risk assets," KCM Trade Chief Market Analyst Tim Waterer said. Asian shares firmed, with Wall Street futures advancing, while the U.S. dollar index fell 0.3%. A weaker dollar makes greenback-priced bullion less expensive. The U.S. and China have resolved issues surrounding shipments of rare earth minerals and magnets to the U.S., Treasury Secretary Scott Bessent said on Friday, adding that the Trump administration's various trade deals with other countries could be done by the September 1 Labor Day holiday. Canada scrapped its digital services tax targeting U.S. technology firms late on Sunday, just hours before it was due to take effect, in a bid to advance stalled trade negotiations with the United States. The Iran-Israel ceasefire after a 12-day conflict also appeared to be holding, further reducing safe-haven demand. "The dollar remains pressured, which is limiting the extent of the slide for gold. However, the US$3,250 level shapes as a key support level for gold. Any breach of this level could see losses accelerate towards the US$3,200 level," Waterer said. Stable geopolitical and economic conditions often reduce demand for gold as a safe-haven asset, while the non-yielding asset's appeal further wanes in a high-interest-rate environment. Spot silver rose 0.5% to US$36.16 per ounce, platinum firmed 2% to US$1,366.63, while palladium was up 1.6% at US$1,151.36. - Reuters
Ammon
3 days ago
- Business
- Ammon
Gold rebounds from over one-month low on weaker dollar
Ammon News - Gold reversed course and edged higher on Monday, supported by a weaker dollar, after hitting a more than one-month low earlier as easing U.S.-China trade tensions dampened safe-haven demand and bolstered risk appetite. Spot gold rose 0.5% to $3,290 per ounce, as of 0613 GMT, after hitting its lowest since May 29 earlier in the session. U.S. gold futures were up 0.4% at $3,301. "There is less of a 'doom and gloom' outlook surrounding both tariff talks and events in the Middle East, which is relegating gold to play second fiddle to risk assets," KCM Trade Chief Market Analyst Tim Waterer said. Asian shares firmed, with Wall Street futures advancing, while the U.S. dollar index fell 0.3%. A weaker dollar makes greenback-priced bullion less expensive. Spot silver rose 0.5% to $36.16 per ounce, platinum firmed 2% to $1,366.63, while palladium was up 1.6% at $1,151.36. Reuters
CNBC
3 days ago
- Business
- CNBC
Gold rebounds from over one-month low on weaker dollar
Gold reversed course and edged higher on Monday, supported by a weaker dollar, after hitting a more than one-month low earlier as easing U.S.-China trade tensions dampened safe-haven demand and bolstered risk appetite. Spot gold rose 0.3% to $3,281.65 per ounce, as of 0216 GMT, after hitting its lowest since May 29 earlier in the session. U.S. gold futures were up 0.2% at $3,293.30. "There is less of a 'doom and gloom' outlook surrounding both tariff talks and events in the Middle East, which is relegating gold to play second fiddle to risk assets," KCM Trade Chief Market Analyst Tim Waterer said. Asian shares firmed, with Wall Street futures advancing, while U.S. dollar index fell 0.2%. A lower dollar makes greenback-priced bullion less expensive. The U.S. and China have resolved issues surrounding shipments of rare earth minerals and magnets to the U.S., Treasury Secretary Scott Bessent said on Friday, adding, the Trump administration's various trade deals with other countries could be done by the September 1 Labor Day holiday. Meanwhile, U.S. President Donald Trump abruptly cut off trade talks with Canada on Friday over its tax targeting U.S. technology firms, saying that it was a "blatant attack" and he would set a new tariff rate on Canadian goods within a week. The Iran-Israel ceasefire after a 12-day conflict also appeared to be holding, further reducing safe-haven demand. "The dollar remains pressured which is limiting the extent of the slide for gold. However, the $3,250 level shapes as a key support level for gold. Any breach of this level could see losses accelerate towards the $3,200 level," Waterer said. Stable geopolitical and economic conditions often reduce demand for gold as a safe-haven asset, while non-yielding bullion's appeal further wanes in a high-interest-rate environment. Spot silver was down 0.1% at $36.02 per ounce, platinum firmed 1% to $1,353.13, while palladium was up 0.2% at $1,135.48.
Business Recorder
3 days ago
- Business
- Business Recorder
Gold rebounds from over one-month low on weaker dollar
Gold reversed course and edged higher on Monday, supported by a weaker dollar, after hitting a more than one-month low earlier as easing U.S.-China trade tensions dampened safe-haven demand and bolstered risk appetite. Spot gold rose 0.3% to $3,281.65 per ounce, as of 0216 GMT, after hitting its lowest since May 29 earlier in the session. U.S. gold futures were up 0.2% at $3,293.30. 'There is less of a 'doom and gloom' outlook surrounding both tariff talks and events in the Middle East, which is relegating gold to play second fiddle to risk assets,' KCM Trade Chief Market Analyst Tim Waterer said. Asian shares firmed, with Wall Street futures advancing, while U.S. dollar index fell 0.2%. A lower dollar makes greenback-priced bullion less expensive. The U.S. and China have resolved issues surrounding shipments of rare earth minerals and magnets to the U.S., Treasury Secretary Scott Bessent said on Friday, adding, the Trump administration's various trade deals with other countries could be done by the September 1 Labor Day holiday. Meanwhile, U.S. President Donald Trump abruptly cut off trade talks with Canada on Friday over its tax targeting U.S. technology firms, saying that it was a 'blatant attack' and he would set a new tariff rate on Canadian goods within a week. The Iran-Israel ceasefire after a 12-day conflict also appeared to be holding, further reducing safe-haven demand. 'The dollar remains pressured which is limiting the extent of the slide for gold. However, the $3,250 level shapes as a key support level for gold. Any breach of this level could see losses accelerate towards the $3,200 level,' Waterer said. Stable geopolitical and economic conditions often reduce demand for gold as a safe-haven asset, while non-yielding bullion's appeal further wanes in a high-interest-rate environment. Spot silver was down 0.1% at $36.02 per ounce, platinum firmed 1% to $1,353.13, while palladium was up 0.2% at $1,135.48.
