News

The safe-haven asset continues to rally as investors reassess the actual likelihood of a Federal Reserve rate cut, with expectations falling from 29.9% to 21.9% over the past week. Meanwhile, the U.S. dollar’s weakness, with the currency hitting a two-week low, has pushed gold back above the $4,150-per-ounce mark.

[Source: Market screener]

Gold extended its gains, rising more than 1% as optimism over the interest rate outlook boosted demand. Disappointing U.S. employment data pointed to a cooling labor market, pushing spot gold above $4,190 per ounce.

[Source: TV News]

The safe-haven asset is moving higher in today’s trading session, supported by renewed momentum from central bank purchases. According to data from the World Gold Council (WGC), central banks recorded net gold purchases totaling 41 tonnes in recent months. Poland led the way, adding 18 tonnes to its gold reserves.

[Source:  Ansa]