Gold prices traded near record-high levels on Thursday, as U.S. yields and dollar dipped after the U.S. Federal Reserve hinted it may pause the rate-hike cycle.
The Fed raised its benchmark overnight interest rate by 25 basis points, but no longer said that it "anticipates"increases would be needed, only that it will watch incoming data to determine if more hikes "may be appropriate."
Gold is helped by "lower yields and a weaker dollar in the aftermath of the recent Fed meet and changes in the policy statement language providing the conviction that the central bank will likely shift towards a rate pause," said Yeap Jun Rong, market analyst at IG.was down 0.2%, making greenback-priced gold more affordable for overseas buyers. Benchmark U.S. Treasury yields also dropped., adding: "it's possible that we will have what I hope would be a mild recession.
The European Central Bank is expected later in the day to raise interest rates for the seventh meeting in a row.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold hovers near record high levels as Fed hints rate-hike pauseGold prices traded near record-high levels on Thursday, as U.S. yields and dollar dipped after the U.S. Federal Reserve hinted it may pause the rate-hike cycle.
Read more »
Gold Price Forecast: XAU/USD struggles below $2,000 amid US default fears, hawkish Fed betsGold price remains sluggish ahead of the key United States data, events. First Republic Bank-induced relief contrasts with fears of US debt ceiling e
Read more »
Gold prices flat on caution ahead of Fed meetingGold prices were flat Tuesday as cautious market participants awaited fresh cues from top central banks on their monetary policy plans, especially from the Fed.
Read more »
Gold stalls for rate hike cues from FedGold prices stuck to a relatively narrow range on Tuesday as investors braced for hints on future interest rates from the U.S. Federal Reserve's policy meeting.
Read more »
Gold ticks higher as traders await Fed meetingGold prices trade slightly higher early Tuesday but remain within their recent tight trading range around $2,000 an ounce as the yellow metal entered what...
Read more »
Gold hovers above $2,000 as Fed rate decision loomsGold prices held steady above the key $2,000 level on Wednesday, while investors turned their attention to the U.S. Federal Reserve's interest rate decision due later in the day.
Read more »