Gold weakens amid Treasury pick, Fed rates expectation
Gold has still climbed roughly 30% this year, supported by central bank purchases and the Fed’s pivot to rate cuts. Haven buying has also been a feature on an escalation in the Russia-Ukraine war. Most banks remain positive on the outlook, with Goldman Sachs Group Inc. and UBS seeing further gains in 2025.
Gold prices plunged about 3% on Monday, breaking a five-session rally to its highest in nearly three weeks, as reports of ...
Gold prices dropped sharply on Monday on a "corrective pullback from recent solid gains and some profit-taking from the shorter-term futures traders," said Jim Wyckoff, senior analyst at Kitco.com.
On the international front, gold prices decreased by $43 to $2,672 per ounce (31.10 grams). Spot gold dropped 1% to $2,686.73 ...
XAU/USD retreats on Treasury pick and profit-taking. Can support near $2663 hold, or will bearish momentum drive prices ...
Gold futures tumbled after Donald Trump indicated he would nominate Wall Street veteran Scott Bessent as Treasury secretary. Traders wagered that Bessent would moderate Trump's approach to tariffs, ...
Markets viewed Scott Bessent's appointment as Treasury Secretary positively.
Gold slipped on Monday as safe-haven flows declined on a potential ceasefire in the conflict between Israel and Lebanon-based ...
DXY retreats from two-year peak as 10-year yields drop to 4.361%. Markets await Fed minutes and inflation data for insights ...
Former hedge fund manager Scott Bessent is seen as a steady hand to lead the Treasury with his deep market expertise.
Donald Trump signals intent to nominate Scott Bessent as Treasury Secretary. Scott Bessent in that role could lead S&P 500 to 6,600 level.
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