Gold prices edged slightly higher to $1920 an ounce on Friday, as dollar and bond yields declined following the latest labor report. The payrolls report showed US job growth slowed more than anticipated last month while the unemployment rate fell to 3.6% and wage growth was steady. Traders have fully priced in a 25bps increase in the fed funds rate this month but...
The British pound held steady around the $1.27 level, remaining in close proximity to a 14-month peak of $1.2848 reached on June 16. Investors were carefully considering the possibility of higher borrowing costs, coupled with concerns over a potential recession prompted by the Bank of England's aggressive policy tightening. Governor Andrew Bailey emphasized that...
Gold prices steadied near $2,030 an ounce on Thursday, remaining in positive territory so far this week as the latest CPI report showed that headline inflation in the US unexpectedly slowed last month, supporting bets that the Federal Reserve will pause its interest rate hikes in June. The annual inflation rate in the US stood at 4.9% in April, defying...