Gold Extends Gains on Easing Rate-Hike Fears, Markets Await Fed Minutes
- On Wednesday, the U.S. dollar drifted near multi-month lows as Treasury yields eased from recent highs, with investors awaiting Federal Open Market Committee minutes for interest rate policy clues.
- Treasury yields pulled back from multi-decade highs seen Tuesday as a selloff at the long end of the curve eased; German bond yields and rates in France also recently hit multi-year peaks.
- The Federal government's fiscal deficit jumped to $432.3 billion in July, pushing the year-to-date shortfall to nearly $1.8 trillion; interest costs on the nearly $40 trillion national debt reached about $1.2 trillion this year.
- A stalemate in the Middle East lifted oil prices to near three-week highs, and "Investors are watching the unfolding situation in the Middle East and factoring in the potential of an inflation spike," wrote AJ Bell's head of financial analysis Danni Hewson.
- Contradicting Iran's assertion that the waterway remained shut to shipping, President Donald Trump insisted on Tuesday that Hormuz was open, while negotiations between Washington and Tehran to end the war have stalled.
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27 Articles
Yields pull back from multi-year highs after Treasury Department says it will double government debt repurchase size
Longer-term U.S. Treasury yields pulled back on Wednesday after the Treasury Department announced an upscaled buyback operation of the nation's debt.
The dollar fell to near multi-month lows against a basket of major currencies today as U.S. Treasury yields retreated from their recent highs. The euro edged up slightly to $1.1577, remaining close to its two-month high reached earlier in the week. Sterling held steady at $1.3533, near a three-month high, ahead of UK inflation data due later today. The Japanese yen was steady at 159.56 against the dollar, having given up much of its gains from g…
The Economic Times
The Hindu Business LineGold extends gains on easing rate-hike fears, markets await Fed minutes
Gold prices advanced for a third straight session on Tuesday, with investors keenly anticipating the forthcoming Federal Reserve meeting minutes that could shape monetary policy. The softness in U.S. economic indicators has sparked optimism that the Fed may maintain rates. In light of escalating geopolitical uncertainties, gold is once again being viewed as a safe-haven investment, alongside gains in silver and platinum.
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