Gold Price Forecast: XAU/USD edges higher on geopolitical risks, focus remains on FOMC – by hareshmenghani Gold Commodities RiskAversion Fed XAUUSD
Retreating US bond yields also benefits the non-yielding metal, though the upside remains capped.Gold
Against the backdrop of concerns about a deeper global economic downturn, the risk of a further escalation in the Russia-Ukraine conflict drives some haven flows towards gold. In the latest development, Russian President Vladimir Putin announced partial military mobilization and tempers investors' appetite for riskier assets.
In fact, the markets seem convinced that the US central bank will deliver another supersized 75 bps rate increase at the end of a two-day policy meeting on Wednesday. This remains supportive of the underlying bullish sentiment surrounding the USD, which might also contribute to keeping a lid on the dollar-denominated gold.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold Forecast: Gold Continues to StruggleGold markets have continued to be very soft in general, as the market continues to pay close attention to the US dollar and interest rates in America.
Read more »
Philippine town revokes permit for Tampakan copper-gold projectTampakan, considered The Philippines' biggest untapped copper-gold reserve, was stalled for over a decade but saw a glimpse of hope in May.
Read more »
Kinross Gold to buy back $300 million of shares following talks with ElliottThe company said it will repurchase the shares over the remainder of this year and will allocate 75% of its excess cash for more buybacks in 2023 and 2024.
Read more »
Gold price slips as Fed fears swirl before Powell’s decision dayThe metal slid as much as 0.9% Monday, reversing earlier gains, to extend September’s slump.
Read more »
Gold Price Forecast: XAU/USD hangs near YTD low, just above $1,660 amid stronger USDGold struggles to capitalize on Friday's goodish rebound from its lowest level since April 2020 and meets with a fresh supply on the first day of a ne
Read more »
Gold retreats to 2-year lows as investors await Fed decisionAfter a brief reprieve on Friday, gold prices are back to trading at 2-year lows.
Read more »