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The core PCE in the U.S. hit a near two-year high in January, while the Q4 real GDP was revised down sharply.
Core inflation in the United States has risen month-over-month for two consecutive months, while economic growth in the fourth quarter was drastically revised downward. Amid a dual impact of surging oil prices triggered by Iran-related tensions and weak consumer spending, the Federal Reserve's rate-cutting playbook has been completely disrupted.
Why does gold remain 'unshaken' amid the turmoil in the Middle East?
In the recent escalating conflict involving the US, Israel, and Iran, gold, the top safe-haven asset, has shown unusual 'calmness' and even faced a wave of sell-offs at one point. Why has the geopolitical turmoil failed to ignite the price of gold?
The surge in oil prices and the strengthening of the US dollar have suppressed safe-haven demand, placing the gold market in a phase influenced by multiple intertwined factors.
The international gold market extended its pullback during the Asian session on Thursday, with spot gold prices hovering near $5,150 after two consecutive sessions of declines. Although gold had reached a recent high driven by safe-haven demand, recent shifts in market dynamics have led to a notable retreat in prices. One of the primary factors behind the adjustment in gold prices has been the significant volatility in energy markets. Recently, international crude oil prices have continued to rise, with WTI crude climbing above $92 per barrel and intraday gains surpassing 6% at one point. Rising energy costs often signal the potential for renewed inflationary pressures in the future, thereby altering market expectations regarding monetary policy. When
6-K: Report of foreign private issuer (related to financial reporting)
Blackrock: The rally in gold and silver is far from over.
Despite the recent increase in volatility of precious metals, Blackrock, the world's largest asset manager, remains firmly bullish. Strategists at the firm point out that emerging buyers are reshaping the demand landscape, which could imply that the epic rally in precious metals is still in its early stages.
US February CPI to be released tonight at 20:30! Wall Street debates trading strategies.
The U.S. February inflation data will be released tonight. Amid the dual uncertainties of the Iran conflict and AI disruption, this report could serve as a pivotal turning point for Federal Reserve policy expectations and market direction. Following the unexpected downturn in employment data, Wall Street strategists have now split into two opposing camps.