Gold Edges Up As Oil Prices, Yields Dip

RTTNews | 4 hari yang lalu

(RTTNews) - Gold edged up slightly on Monday due to diminishing market expectations for an October Federal Reserve interest rate hike.

Spot gold edged up 0.2 percent to $4,171.62 an ounce while U.S. gold futures were up 0.2 percent at $4,190.15.

The dollar held firm as the euro weakened after nationwide protests in France over living costs turned violent.

Treasury yields fell after Federal Reserve Chair Kevin Warsh voiced optimism about U.S. economic resilience and the impact of AI on economic growth and productivity.

Warsh said he won't prejudge what the U.S. central bank will do about interest rates at its upcoming policy meeting, suggesting the Fed would wait until December to raise rates.

In economic releases, U.S. flash manufacturing and services Purchasing Manager's Index (PMI) data along with readings on housing starts, pending home sales and weekly labor market data will be in the spotlight this week.

Brent crude prices fell more than 1 percent toward $108 a barrel after U.S. President Donald Trump suspended recently passed sanctions and tariffs aimed at Russia, potentially allowing more Russian fuel to reach global markets.

Trump accused Ukrainian President Volodymyr Zelensky of prolonging the war with Russia and said his decisions to suspend several Russian sanctions is an effort to keep Moscow at the negotiating table.

Russian President Vladimir Putin has proposed a trilateral summit with Trump and Chinese President Xi Jinping next month to discuss Ukraine deal, amid warming ties and sanctions waivers.

However, despite the prospect of additional fuel supplies, there is considerable uncertainty over the broader supply outlook due to escalating hostilities in the Middle East and Eastern Europe.

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EURUSD	1.1202	GBPUSD	1.3372
USDJPY	156.819	USDCAD	1.39976