Gold Futures Snap 6-day Winning Streak, Settle Notably Lower

RTTNews | 34 ngày trước

(RTTNews) - Gold futures settled lower on Wednesday, as the dollar and bond yields moved up. Profit taking after six successive days of gains contributed as well to the drop in yellow metal prices.

The dollar index climbed to 104.57, gaining nearly 0.5%. Treasury yields continued to rise as traders pondered the prospect of a Donald Trump presidency.

Gold futures for October ended down $29.80 or about 1.1% at $2,714.40 an ounce.

Silver futures for October settled lower by $1.1910 or about 3.4% at $33.640 an ounce, while Copper futures for November dropped to $4.2960 per pound, down $0.0590 or about 1.35% from the previous close.

It is feared that Trump policies including tariffs and restrictions on undocumented immigration could increase inflation and keep interest rates relatively high for a longer-than-anticipated period.

The yield on the benchmark ten-year note is up by 4.4 basis points at 4.25%.

After the Fed slashed interest rates by 50 basis points last month, CME Group's FedWatch Tool is currently indicating an 89% chance of just a 25 basis point rate cut next month.

In economic news, data from the National Association of Realtors unexpectedly showed a continued decrease by existing home sales in the U.S. in the month of September.

NAR said existing home sales slid by 1% to an annual rate of 3.84 million in September after tumbling by 2% to a revised rate of 3.88 million in August.

Economists had expected existing home sales to increase by 1% to a rate of 3.90 million from the 3.86 million originally reported for the previous month.

Fed Officials Favor Gradual Interest Rate Cuts, Minutes Show

Federal Reserve officials believe it will be appropriate to "gradually" lower interest rates, according to the minutes of the central bank's latest monetary policy meeting. The minutes said officials feel a gradual approach to lowering rates to a more neutral stance will be appropriate if economic data come in "about as expected."

RTTNews | 5h 21phút trước

Japanese Yen Advances Amid Concerns About Trump's Tariff Threats

The Japanese yen strengthened against other major currencies in the New York session on Tuesday, as U.S. President-elect Donald Trump pledged to impose tariffs on all imports from Mexico, Canada and China on his first day in office, raising fears of a renewed trade war.

RTTNews | 5h 49phút trước

Swiss Market Ends On Weak Note

After early weakness, the Switzerland market briefly moved above the flat line around mid afternoon on Tuesday, but retreated soon and finally ended the day's session with a moderate loss. The mood was a bit bearish after U.S. President-elect Donald Trump stated on social media that he would impose tariffs on all imports from Mexico, Canada and Chin

RTTNews | 6h 26phút trước

European Stocks Close Lower As Trade War Fears Resurface

European stocks closed weak on Tuesday as trade war fears resurfaced after U.S. President-elect Donald Trump pledged to impose tariffs on all imports from Mexico, Canada and China immediately after taking office in January 2025.

RTTNews | 6h 50phút trước

U.S. Consumer Confidence Continues To Improve In November

After reporting a significant rebound by U.S. consumer confidence in the previous month, the Conference Board released a report on Tuesday showing consumer confidence continued to improve in November. The Conference Board said its consumer confidence index rose to 111.7 in November after surging to an upwardly revised 109.6 in October.

RTTNews | 9h 17phút trước

U.S. New Home Sales Pull Back Much More Than Expected In October

A report released by the Commerce Department on Tuesday showed a substantial pullback by new home sales in the U.S. in the month of October. The Commerce Department said new home sales saw a 17.3 percent nosedive to an annual rate of 610,000 in October after spiking by 7.0 percent to a rate of 738,000 in September. Economists had expected new home sales to decrease to a rate of 730,000.

RTTNews | 9h 20phút trước

Intel To Get $7.865 Bln Govt. Grant For US Semiconductor Projects

The U.S. government has offered Intel Corp. up to $7.865 billion in direct funding for its commercial semiconductor manufacturing projects, which is expected to create thousands of jobs. The latest award, together with a 25% investment tax credit which the firm plans to claim, would support the chip maker's plans to invest more than $100 billion in the U.S.

RTTNews | 10h 29phút trước

Bay Street Likely To Open Higher On Firm Commodities, But Trade War Fears May Weigh

It's likely to be a positive start for Canadian stocks on Tuesday as higher crude oil and gold prices are likely to trigger some buying in energy and metal sectors. However, fears of a renewed trade war following U.S. President-elect Donald Trump pledging to impose tariffs on all imports from Mexico, Canada and China, may hurt sentiment and limit market's upside.

RTTNews | 12h 2phút trước

EURUSD	1.04694	GBPUSD	1.25428	AUDUSD	0.64562
USDJPY	153.191	USDCAD	1.40711	USDCHF	0.88774