Gold Slides On Fed Rate Hike Bets

RTTNews | 115 days ago
Gold Slides On Fed Rate Hike Bets

(RTTNews) - Gold fell below $4,550 an ounce on Tuesday as Treasury yields edged up and the dollar steadied after a decline in the previous session on expectations that the Federal Reserve will keep interest rates higher for longer.

Oil prices eased from two-week highs but remained at elevated levels, weighing on bullion's traditional safe-haven appeal.

Spot gold fell 0.6 percent to $4,539.58 an ounce while U.S. gold futures for June delivery were down 0.3 percent at $4,544.17.

The yield on the U.S. 30-year bond edged up by one basis point to 5.13 percent on worries that the Federal Reserve may keep interest rates higher for longer. The Fed funds futures market is currently pricing in an increase in rates as soon as December.

Overnight, finance ministers and central bank chiefs from the G7 nations acknowledged mounting concerns over public debt and bond market volatility.

The dollar held steady as a rout in the bond market paused for breath. Investors pinned hopes for a U.S.-Iran ceasefire deal after Tehran reportedly sent a new peace proposal via Pakistan and U.S. President Donald Trump said he has postponed a planned attack on Iran at the request of Qatar, Saudi Arabia and the United Arab Emirates.

Trump said there was a "very good chance" Washington and Iran could reach a deal to stop Tehran from developing a nuclear weapon, adding the U.S. military has been instructed to go forward with a full, large-scale assault on Iran in the event that an acceptable Deal is not reached.

As part of a revised negotiation framework with Tehran, it was said the U.S. has agreed to temporarily suspend sanctions on Iran's oil sector.

read more
U.S. Consumer Sentiment Deteriorates Much More Than Expected In September

U.S. Consumer Sentiment Deteriorates Much More Than Expected In September

A report released by the University of Michigan on Friday showed consumer sentiment in the U.S. has deteriorated by much more than anticipated in the month of September. The University of Michigan said its consumer sentiment index slumped to 47.8 in September after tumbling to 51.7 in August. Economists had expected the index to edge down to 51.0.
RTTNews | 2h 24min ago
CPSC Recalls: 2.3 Mln Candy Bottles, Motorcycles, Dressers, Dual Fuel Ranges, Fire Spray Canisters

CPSC Recalls: 2.3 Mln Candy Bottles, Motorcycles, Dressers, Dual Fuel Ranges, Fire Spray Canisters

The U.S. Consumer Product safety Commission or CPSC has announced various recalls including more than 2.3 million sour crush candy bottles, motorcycles, six-drawer dressers, dual fuel ranges, hair dryer brushes, and fire spray canisters, among others. In most of the recalls, consumers are urged to immediately stop using the recalled product, and contact the respective firm for either a free repair
RTTNews | 2h 33min ago
U.S. Consumer Price Growth Matches Estimates, Core Prices Rise Slightly More Than Expected

U.S. Consumer Price Growth Matches Estimates, Core Prices Rise Slightly More Than Expected

A closely watched report released by the Labor Department on Friday showed consumer prices in the U.S. increased in line with economist estimates in the month of August, although core prices rose by slightly more than expected. The Labor Department said its consumer price index climbed by 0.4 percent in August after inching up by 0.1 percent in July.
RTTNews | 3h 13min ago
IEA Cuts Oil Demand Forecast; Canadian Markets Eye Recovery

IEA Cuts Oil Demand Forecast; Canadian Markets Eye Recovery

Canadian stocks may open with positive bias Friday as oil prices decline following the International Energy Agency's downward revision of global oil demand. Investors seek bargains after six consecutive days of losses. U.S. consumer price data could impact sentiment.
RTTNews | 4h 23min ago
Canadian Dollar Falls As Oil Prices Edge Lower

Canadian Dollar Falls As Oil Prices Edge Lower

The Canadian dollar weakened against other major currencies in the European session on Friday, as the crude oil prices traded lower amid escalating U.S.-Iran tensions and concerns over prolonged disruption to global energy supplies.
RTTNews | 4h 38min ago
Kroger Q2 Profit Rises, Backs FY26 Adj. Earnings View, Cuts Sales Growth Forecast; Stock Drops

Kroger Q2 Profit Rises, Backs FY26 Adj. Earnings View, Cuts Sales Growth Forecast; Stock Drops

Supermarket chain Kroger Co. reported Friday higher profit and sales in its second quarter, while Identical Sales growth was slower than the prior year. Further, the firm maintained adjusted earnings outlook for fiscal 2026, but trimmed growth view for identical sales without fuel. In the pre-market activity on the NYSE, the shares were losing around 2.62 percent.
RTTNews | 5h 10min ago
UK Stocks Rise On GDP Growth, Oil Price Decline

UK Stocks Rise On GDP Growth, Oil Price Decline

UK stocks advanced Friday as July GDP growth of 0.4% beat expectations and oil prices tumbled following downward IEA demand revisions. The FTSE 100 reached 10,674.52, up 0.61% despite ongoing US-Iran concerns.
RTTNews | 5h 23min ago