Gold prices rise on September US rate-cut expectations
==========
Gold prices increased on August 26, 2024, due to a weaker dollar and lower Treasury yields following dovish comments from U.S. Federal Reserve Chair Jerome Powell, who indicated a likely rate cut in September. Spot gold rose 0.4% to US$2,520.39 per ounce, while U.S. gold futures also gained 0.4% to US$2,556.00. Traders anticipate a 62% chance of a 25 basis point cut and a 38% chance of a 50 basis point cut. The ongoing tensions in the Middle East further supported gold's rise. India's gold demand is expected to remain strong due to reduced import duties.
#Gold #FederalReserve #JeromePowell #TreasuryYields #MarketAnalysis #RateCut #Dollar #MiddleEast #India #Investment
https://www.nst.com.my/business/economy/2024/08/1096935/gold-prices-rise-september-us-rate-cut-expectations
New Straits Times /
npub1da…x087j
2024-08-26 08:49:36
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npub1da9xhqetht0hvcwa6g5ftpl58zs3zymrtf6t69rfw66hr2uk6gnq9x087jPublished at
2024-08-26 08:49:36Event JSON
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"content": "Gold prices rise on September US rate-cut expectations\n==========\n\nGold prices increased on August 26, 2024, due to a weaker dollar and lower Treasury yields following dovish comments from U.S. Federal Reserve Chair Jerome Powell, who indicated a likely rate cut in September. Spot gold rose 0.4% to US$2,520.39 per ounce, while U.S. gold futures also gained 0.4% to US$2,556.00. Traders anticipate a 62% chance of a 25 basis point cut and a 38% chance of a 50 basis point cut. The ongoing tensions in the Middle East further supported gold's rise. India's gold demand is expected to remain strong due to reduced import duties.\n\n#Gold #FederalReserve #JeromePowell #TreasuryYields #MarketAnalysis #RateCut #Dollar #MiddleEast #India #Investment\n\nhttps://www.nst.com.my/business/economy/2024/08/1096935/gold-prices-rise-september-us-rate-cut-expectations",
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