Gold rises as Hormuz delays and US inflation data keep markets cautious
Gold moved higher to around $4,352 per troy ounce as delayed negotiations over the Strait of Hormuz and upcoming US inflation figures kept market participants on standby.
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Original summaries of the reporting that moves the gold price, with every source linked.
Gold pauses near $4,345 following strong rally as US inflation data looms
Gold took a breath on Monday, trading near $4,345 per ounce after last week's 7% surge. Markets are weighing Federal Reserve rate expectations ahead of crucial US inflation figures.
China Central Bank Purchases Drive Gold Price Past $4,320
Spot gold rose above $4,320 per troy ounce as China's central bank extended its official reserve accumulation to 21 consecutive months alongside rising investment demand.
Indian gold prices ease as global spot rates retreat from highs
Indian gold rates eased on Monday to INR 13,273.12 per gram as global benchmark prices pulled back from seven-week highs near $4,372 per ounce amid a strengthening US dollar.
Gold Pulls Back Above $4,300 as Stronger US Dollar Offsets Weak Job Data
Gold slipped from its highest point since mid-June as a stronger US dollar and Middle East geopolitical tensions countered the impact of weak US employment figures.
US Dollar Softens as July Payrolls Miss Federal Reserve Expectations
The US dollar fell following a weaker-than-expected July payrolls report, leading investors to reduce expectations for Federal Reserve interest rate increases ahead of key inflation figures.
NY Fed survey shows short-term US inflation expectations eased in July
American households lowered their one-year inflation expectations to 3.6% in July, while medium- and longer-term forecasts remained unchanged, according to the Federal Reserve Bank of New York.
Weakening US jobs data shifts focus back to Fed mandate
A surprise drop in US nonfarm payrolls and lower participation rates have highlighted fresh economic weakness, prompting analysts to re-evaluate the Federal Reserve policy outlook.
Euro Rises Near Seven-Week High as Soft US Jobs Data Weighs on Dollar
EUR/USD traded near seven-week highs around 1.1562 on Friday as a soft US payrolls report weakened the dollar ahead of key inflation data next week.