Gold prices were steady on Thursday, supported by dovish Federal Reserve signals but restrained by a resilient dollar ahead of key U.S. inflation data this week, while silver hovered near record highs.<\/p>\n
Akos Stiller | Bloomberg | Getty Images<\/p>\n
Gold\u00a0prices were steady on Thursday, supported by dovish Federal Reserve signals but restrained by a resilient dollar ahead of key U.S. inflation data this week, while silver hovered near record highs.<\/p>\n
Spot\u00a0gold<\/a>\u00a0was down 0.2% at $4,332.29 an ounce, as of 0256 GMT, after rising more than 1% late on Wednesday. U.S.\u00a0gold\u00a0futures<\/a>\u00a0also eased 0.2% to $4,364.70.<\/p>\n The dollar index held on to earlier gains after touching a near one-week high on Wednesday, limiting upside in greenback-priced bullion.\u00a0<\/p>\n Spot silver<\/a>\u00a0rose 0.2% to $66.44 an ounce after hitting a record high of $66.88 in the previous session, and is up 129% so far this year, outpacing\u00a0gold’s 65% gain on firm industrial demand, steady investment interest and tightening inventories.<\/p>\n Some analysts\u00a0expect\u00a0silver to test the $70-per-ounce level next year, particularly if U.S. interest rate cuts continue to underpin appetite for\u00a0precious\u00a0metals.<\/p>\n “Remarks by Waller indicate that the Fed could maintain its ongoing rate cut cycle … So that’s supporting both\u00a0gold\u00a0and silver right now,” said Kelvin Wong, senior market analyst at OANDA, adding that some profit-taking could emerge at current levels.<\/p>\n Fed Governor Christopher Waller said the central bank can\u00a0still cut\u00a0rates amid a cooling labor market and would “absolutely” defend its independence if challenged, as he awaits an interview with U.S. President Donald Trump for Powell’s\u00a0succession.<\/p>\n Data\u00a0earlier this week showed the U.S. unemployment rate rose to 4.6% in November, above a Reuters poll\u00a0forecast\u00a0of 4.4% and the highest since September 2021.<\/p>\n The Fed last week delivered its third and final quarter-point rate cut of the year, with markets now pricing in\u00a0two\u00a0additional 25-basis-point cuts in 2026.<\/p>\n Non-yielding assets such as\u00a0gold\u00a0typically benefit in a lower-interest-rate environment.<\/p>\n Investors are now awaiting November’s U.S. Consumer Price Index, due later on Thursday, followed by the Personal Consumption Expenditures price index on Friday.<\/p>\n Platinum<\/a>\u00a0rose 3.6% to $1,966.0, its highest point in more than 17 years, while palladium<\/a>\u00a0added nearly 1% to a near three-year high of $1,663.0.<\/p>\n","protected":false},"excerpt":{"rendered":"Gold prices were steady on Thursday, supported by dovish Federal Reserve signals but restrained by a resilient dollar…\n","protected":false},"author":2,"featured_media":190823,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[941,114,357,16533,54,55842,22814,85,46,55843,55844,55841,2488,2958],"class_list":["post-190822","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-breaking-news-markets","tag-business","tag-business-news","tag-consumer-prices","tag-donald-trump","tag-gold-us-dollar-spot","tag-gold-comex-dec25","tag-il","tag-israel","tag-precious-metal-markets","tag-precious-metals-industry","tag-silver-us-dollar-spot","tag-trump-administration","tag-unemployment"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/190822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=190822"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/190822\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/190823"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=190822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=190822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=190822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}