Gold fell in early Asian trade. The yellow metal was likely weighed down by a hawkish repricing in the dollar after the Federal Reserve's latest meeting, Maybank said.
Spot gold and silver prices are lower after the North American cash-market close Monday, as higher oil prices and firmer Treasury yields kept traders focused on Federal Reserve tightening risk rather than safe-haven demand tied to renewed U.S.-Iran tensions.
Gold prices tumble as rising oil boosts Fed rate hike bets. Can the Death Cross and widening moving averages drive gold even lower?
Central bank demand has been a key driver behind gold's multi-year rally to an all-time high of $5,600 an ounce, and the latest World Gold Council survey points to continued buying from the official sector.
Chinese regulators, including customs officials and the central bank, are proposing a major overhaul of the country's existing import and export regulations governing gold and gold products, according to a new report published Sunday.The proposed new gold regime aims “to streamline administration, facilitate trade, and improve the management of gold carried across the border by individuals,” the Xinhua report stated.
Gold notched a notable turn in June, slipping into negative year-to-date territory after a sharp pullback from its January peak. The decline marked a sharp break from the metal's powerful 12-month rally, as a stronger U.S. dollar, higher Treasury yields, easing safe-haven demand tied to the Iran conflict, and lingering inflation concerns all appeared to weigh on prices.
The gold market is once again starting the week on a disappointing note as it clings to support near $4,000 an ounce, and one bank expects this pivotal level to break as inflation fears persist.
Gold and silver prices should soon begin to benefit from lower oil prices as inflation expectations moderate and bond yields drop, while developments on the Pacific Rim suggest the gold market's center of gravity may be shifting East, according to precious metals analysts at Heraeus.In their latest update, the analysts noted that precious metal prices remained under pressure amid the renewed strength of the U.S. dollar.
Gold declined in early Asian trade. Souring risk sentiment toward artificial-intelligence-related assets has spilled over into commodities including gold, which was among the hardest hit last week, said Capital Economics.
Where has the bullion bull gone, and will it return? Investors are likely wondering.
The gold market just can't catch a break. What began as a correction from record highs has turned into a relentless selloff, with every major support level giving way.
The gold market is ending the week in a precarious position as prices cling to what has become critical support near $4,000 an ounce. The precious metal is on track to post its fourth consecutive weekly loss, its longest losing streak since August 2023.