The Federal Reserve’s recent interest rate cuts have reduced mortgage rates, potentially increasing homebuyers’ purchasing power, but the U.S. housing market remains strained due to a housing shortage and rising expenses. Gold prices hit an all-time high due to economic uncertainties and strong demand. The U.S. economy grew by 3% in Q2, and a decline in oil prices is expected as Saudi Arabia unwinds production cuts. U.S. unemployment claims fell, indicating labor market strength.
U.S. stocks regained ground on Monday after a difficult week, with inflation concerns influencing potential interest rate cuts. The Federal Reserve proposed scaling back capital requirements for banks, while Europe’s auto industry faces hefty emissions fines. Oil prices fluctuated due to demand forecasts, and shifting consumer interest in electric vehicles highlighted market challenges. Despite a slight increase in unemployment claims, the labor market remains steady, and mortgage rates dropped in anticipation of rate cuts. Investors, focusing on upcoming Fed meetings and diversifying portfolios, boosted precious metal prices.
Gold’s record-high prices, combined with growing economic uncertainty and market volatility, are bringing a new focus to the precious metal’s role within global financial markets.
The gold market continues to see some technical buying amid a bullish chart posture.
Amidst factors typically bearish for the precious metal, gold prices posted solid gains on Thursday.
Based on historical trends and regular seasonal performance, precious metals may be significantly underpriced going into the second half of the year,
Gold’s record-setting rally may have captured the headlines this year, but it’s silver that’s running harder and faster as the precious metal benefits from robust financial and industrial demand.
1. People invest in gold for many different reasons. Many do so out of concern over economic, monetary, or political uncertainty. Others seek a hedge against inflation, a way to protect and preserve the real purchasing power of their savings. There are also those who simply seek some peace of mind, a dependable insurance asset,…
Across the world’s biggest markets, traders are finally paying heed to warnings from central banks and winding back bets on aggressive interest-rate cuts this year.
The gold market is not seeing much reaction to the latest employment data as prices recover from Wednesday’s sharp selloff.
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