Commodities
Gold prices rise, close to record highs as rate cut bets mount

Investing.com– Gold prices rose in Asian trade on Tuesday, coming within sight of new highs amid increased bets that the Federal Reserve will begin cutting rates from September.
But gains in gold were limited by some resilience in the dollar, as increased speculation that Donald Trump will win a second term as president boosted the greenback.
rose 0.2% to $2,427.77 an ounce, while expiring in August rose 0.1% to $2,432.30 an ounce by 00:46 ET (04:46 GMT).
Gold close to record high as rate cut bets grow
Spot prices were now less than $30 away from a record high of about $2,450 hit in late-May.
The yellow metal’s recent advance was fueled chiefly by increased bets that the Fed will begin cutting rates by September, following soft inflation readings and somewhat dovish signals from the central bank.
Fed Chair Jerome Powell on Monday said the bank had gained increased confidence that inflation was coming down. While he did not directly telegraph a rate cut, markets took his comments to mean that a cut was close.
Traders were seen entirely pricing out expectations that the Fed will keep rates steady in September, and were now pricing in a nearly 90% chance for a 25 basis point cut, according to .
Other precious metals advanced on this notion, but were a mixed bag on Tuesday. fell 0.3%, while rose 0.2%.
Dollar resilience limits gold gains, Trump in focus
But a recovery in the stalled gold’s advance, especially as the greenback rebounded from an over one-month low this week.
The dollar was supported chiefly by increased speculation that Trump will secure a second term. This came as a failed assassination attempt on the former president appeared to have greatly boosted his popularity, putting him ahead of Joe Biden in the presidential race.
Trump is expected to enact more protectionist trade policies, which could potentially increase inflation and support the dollar.
Copper steady amid China jitters
Among industrial metals, copper prices were flat as the outlook for the red metal was clouded by growing concerns over China.
Benchmark on the London Metal Exchange fell 0.1% to $9,795.50 a tonne, while one-month rose 0.2% to $4.521 a pound.
Weaker-than-expected data from China cast doubts over an economic recovery in the country, which could bode poorly for its copper demand.
Additionally, a Trump presidency could present more trade headwinds for China, further denting its economy.
Commodities
Oil prices rise; U.S. crude inventories plunge, Russia-Ukraine truce eyed
Commodities
India’s Reliance to stop buying Venezuelan oil over US tariffs, sources say
Commodities
Oil prices climb on Venezuela supply worries
- Forex3 years ago
Forex Today: the dollar is gaining strength amid gloomy sentiment at the start of the Fed’s week
- Forex2 years ago
Unbiased review of Pocket Option broker
- Forex3 years ago
How is the Australian dollar doing today?
- Forex3 years ago
Dollar to pound sterling exchange rate today: Pound plummeted to its lowest since 1985
- Cryptocurrency3 years ago
What happened in the crypto market – current events today
- World2 years ago
Why are modern video games an art form?
- Commodities3 years ago
Copper continues to fall in price on expectations of lower demand in China
- Economy2 years ago
Crude oil tankers double in price due to EU anti-Russian sanctions