Gold price hovers above $1,920 during the Asian session on Monday. The prices of yellow metal snapped a losing streak on Friday as the US Dollar (USD)
The hawkish remarks made by Fed officials could affect precious metals like Gold.Gold price hovers above $1,920 during the Asian session on Monday. The prices of yellow metal snapped a losing streak on Friday as the US Dollar trimmed its intraday gains, which could be attributed to the falling in the US Treasury yields.
Regarding the recent data from S&P Global, business activity in the United States remained nearly unchanged in September. The S&P Globalimproved to 48.9 from 47.9 the previous month, surpassing expecting a reading of 48.0. US Dollar Index , measuring the Greenback's value against six major currencies, is struggling to gain momentum, hovering around 105.60 at the time of writing.President Susan Collins has suggested that further tightening is possible but emphasized the need for patience. Additionally, US Federal Reserve Governor Michelle W. Bowman echoed similar sentiments, asserting that more rate hikes are necessary to control inflation.
for an extended period to bring inflation back to its 2% target. This stance has raised market expectations for at least one more 25-basis-point rate hike by the end of the year.
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 Price Forecast: XAU/USD recovers some ground above $1,920, investors await US GDP, PCEGold price recovers its recent losses near $1,924 during the early Asian trading hours on Monday. Meanwhile, the US Dollar Index (DXY), a measure of t
Read more »
Ripple Price Forecast: Declining network growth and underwater XRP holders suggest more downside for XRP priceRipple (XRP) price shows a lack of buying pressure after its win against the US Securities and Exchange Commission (SEC) on July 13. Since then, the r
Read more »
Solana Price Forecast: SOL can rally 14% if RSI can reclaim this levelSolana price has attempted many recoveries but all of them have met with a similar fate as sellers pile on. Currently, SOL is in a position to trigger
Read more »
Binance Coin Price Forecast: BNB needs to retrace before a bullish breakoutBinance Coin price is in a downtrend, showing signs of consolidation and a potential bottom formation. A further retracement followed by a bounce coul
Read more »
LINK whale accumulation provides Chainlink price with a much-needed 21% boostChainlink price was among the front runners of the best-performing assets over the past few days. The altcoin noted significant gains that imbued a se
Read more »
Cardano Price Prediction: ADA could explode 25% due to this divergence setupCardano price has been on a downtrend for more than two months, showing seller domination. But the recent development gives hope for sidelined buyers
Read more »