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18 April 2024

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Gold steadies ahead of US data as investors weigh Fed rate stance

02-07-2025 09:02 AM


Ammon News - Gold prices steadied on Wednesday as investors awaited U.S. payroll data and assessed Federal Reserve Chair Jerome Powell's cautious stance on rate cuts, although a weaker dollar helped limit losses for the greenback-priced bullion.

Spot gold was little changed at $3,341.70 per ounce, as of 0408 GMT, while U.S. gold futures were steady at$3,351.40.

The U.S. dollar index weakened to its lowest point in more than three years, making bullion more affordable for holders of other currencies.

Trump expressed optimism on Tuesday about a potential trade deal with India but was skeptical about reaching a similar agreement with Japan. He added that he was not considering an extension of the July 9 deadline for countries to negotiate trade deals.

Spot silver edged down 0.2% to $35.99 per ounce, platinum was up 0.2% to $1,353.22, while palladium gained 1.1% to $1,112.85. Reuters




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