Gold prices have been under pressure at the start of Friday, hitting a three-week low and as Reuters reports, the yellow metal is heading for its first weekly decline in five. At the time of writing, gold is trading at $1,755 while the greenback consolidates after a parabolic move due to prospects of more rate hikes by the U.S. Federal Reserve and the return of geopolitical angst. Spot gold The precious metal was down 0.2% after falling to its lowest since July 29 at $1,753.68 in early Asian trading. For the week so far, the metal is down 2.5%.
There was an article that did the rounds by Bloomberg as the Tokyo session opened that sent the US dollar bid and risk-off. The article reported on President Xi Jinping's and Russian leader Vladimir Putin's plans to attend a Group of 20 summit on the resort island of Bali later this year, Indonesian President Joko Widodo said.
“Xi Jinping will come. President Putin has also told me he will come,” Jokowi, as the president is known, said in an interview with Bloomberg News Editor-in-Chief John Micklethwait on Thursday. It was the first time the leader of the world’s fourth-most populous nation confirmed both of them were planning to show up at the November summit.
GBP/USD alternates gains with losses around the 1.3500 neighbourhood on Tuesday. Indeed, Cable struggles to further extend its incipient recovery in a context of continuous instability in the Middle East and modest gains in the Greenback.
EUR/USD navigates a tight range near 1.1550 in the latter part of Tuesday’s NA session. The US Dollar’s vacillating price action accompanies the pair while market participants gear up for the crucial US inflation data due on Wednesday.
Gold ticks higher during the Asian session on Wednesday, stalling the previous day's retracement slide from a two-month high. The lack of any meaningful US Dollar buying ahead of the crucial US CPI report acts as a tailwind for the bullion. Meanwhile, oil-driven inflation fears keep bets for at least one Fed rate hike in 2026 firmly on the table and might keep a lid on any meaningful upside for the non-yielding yellow metal.
Over the past two years, Ethereum has faced one of its biggest challenges — its circulating supply has been in an uptrend, a direct stab at its ultrasound money thesis.
The most heavily trailed supply event of the year landed on August 6, and the SpaceX (SPCX) stock went up. Roughly 911.5 million shares held by insiders and early backers became eligible to trade, around 43% more than the entire float sold at the listing, and the freely tradable portion of the company jumped from under 5% of shares outstanding to nearly 12% in a single session.
The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.
