financetom
Market
financetom
/
Market
/
Gold Moves Higher as Dollar Weakens
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Gold Moves Higher as Dollar Weakens
Jan 7, 2025 6:57 AM

09:32 AM EST, 01/07/2025 (MT Newswires) -- Gold futures rose early on Tuesday following two losing sessions as the dollar eased.

Gold for February delivery was last seen up US$27.40 to US$2,674.80 per ounce.

After rising 27% in 2024 on declining interest rates and physical demand from central banks and funds, the price of the metal has cooled after the Federal Reserve said it will slow interest-rate cuts this year and the dollar surged following the U.S. election.

"Uncertainty regarding the near-term trajectory of US short-term rates and a surging dollar, which rose 7% during Q4-2024, are likely to create a bumpy and volatile path towards our USD 3000 target (for gold)," Saxo Bank noted.

The dollar eased early, with the ICE dollar index last seen down 0.03 points to 108.23.

Treasury yields were mixed, with the U.S. two-year note last seen paying 4.281%, down 0.4 basis points, while the yield on the 10-year note was up 0.5 points to 4.641%.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Sector Update: Tech
Sector Update: Tech
Jul 25, 2024
08:44 AM EDT, 07/25/2024 (MT Newswires) -- Technology stocks were mixed premarket Thursday as the Technology Select Sector SPDR Fund (XLK) was up 0.2% and the SPDR S&P Semiconductor ETF (XSD) was 3.3% lower recently. STMicroelectronics ( STM ) shares declined by over 12% after it reported lower fiscal Q2 earnings and net revenue. ...
Exchange-Traded Funds, Equity Futures Lower Pre-Bell Thursday Ahead of Key Economic Data
Exchange-Traded Funds, Equity Futures Lower Pre-Bell Thursday Ahead of Key Economic Data
Jul 25, 2024
08:20 AM EDT, 07/25/2024 (MT Newswires) -- The broad market exchange-traded fund SPDR S&P 500 ETF Trust ( SPY ) was down 0.2% and the actively traded Invesco QQQ Trust (QQQ) was 0.3% lower in Thursday's premarket activity, ahead of key economic data releasing before the market opens. US stock futures were also lower, with the S&P 500 Index futures...
Bank of America, Accenture And 2 Other Stocks Insiders Are Selling
Bank of America, Accenture And 2 Other Stocks Insiders Are Selling
Jul 25, 2024
The Nasdaq 100 closed lower by more than 700 points during Wednesday's session. Investors, meanwhile, focused on some notable insider trades. When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company's prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for...
US STOCKS SNAPSHOT-Futures pare losses after GDP, durable goods data
US STOCKS SNAPSHOT-Futures pare losses after GDP, durable goods data
Jul 25, 2024
July 25 (Reuters) - U.S. stock index futures pared losses on Thursday after weaker-than-expected durable goods data lifted hopes for earlier interest rate cuts from the Federal Reserve. A report showed durable goods orders fell 6.6% in June, compared with expectations for a 0.3% rise. U.S. gross domestic product grew 2.8% in the second quarter, the Commerce Department reported in...
Copyright 2023-2025 - www.financetom.com All Rights Reserved