Gold Slips Below $4700 On Inflation Concerns

RTTNews | 121 days ago

(RTTNews) - Gold prices slipped below $4,700 an ounce on Wednesday as a stronger dollar and rising Treasury yields dented bullion's safe-haven appeal.

Spot gold dipped 0.35 percent to $4,697 an ounce while U.S. gold futures were up half a percent at $4,707.75.

The U.S. dollar held near a one-week high as investors assessed the path for interest rates under new leadership.

U.S. Treasury yields fell slightly after rising on Tuesday in reaction to hotter-than-expected U.S. CPI data.

The two-year U.S. Treasury yield rose to nearly 4 percent on Tuesday and the 30-year yield climbed to 5.03 percent after stronger consumer price inflation data reinforced bets that the Federal Reserve may have to raise interest rates next year.

The U.S. Senate confirmed Kevin Warsh on Tuesday to serve as a member of the Federal Reserve Board of Governors, marking an important step towards his succeeding Jerome Powell as the next head of the U.S. central bank.

Meanwhile, as Iran peace deal hopes fade and inflation concerns mount, traders looked ahead to the high-stakes meeting in Beijing between U.S. President Donald Trump and Chinese President Xi Jinping for direction. Taiwan, tariffs and the Strait of Hormuz are on the agenda for the meeting.

Progress toward a U.S.-Iran peace agreement remains limited, with President Trump saying the U.S. doesn't have to "rush anything" on Iran and that he doesn't need Beijing's help to end the war.

Trump accused sections of the American media of "giving Iran false hope" through their coverage of the war and lashed out at what he called "Fake News" outlets.

A senior Pentagon official reportedly said on Tuesday that the United States' cost of war with Iran has climbed to nearly 29 billion dollars.

European Markets Rise As Oil Prices Fall On IEA Demand Cut

European markets gained ground Friday after the International Energy Agency cut its global oil demand forecast, sending Brent crude futures down 3.5% to $103.50. The IEA now projects world oil demand will drop 2.5 million barrels per day this year versus its prior estimate of 1.6 million bpd.

RTTNews | 15 minutes ago

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 | 3h 36min ago

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

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RTTNews | 3h 45min ago

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

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RTTNews | 4h 25min ago

U.S. Consumer Prices Increase In Line With Estimates In August

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.

RTTNews | 5h 27min ago

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 | 5h 35min ago

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 | 5h 51min ago

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 | 6h 22min ago

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