{"id":131898,"date":"2024-09-16T10:49:15","date_gmt":"2024-09-16T10:49:15","guid":{"rendered":"https:\/\/kinesis.money\/?p=131898"},"modified":"2024-09-16T10:49:15","modified_gmt":"2024-09-16T10:49:15","slug":"gold-jumps-us-dollar-weakens","status":"publish","type":"post","link":"https:\/\/kinesis.money\/de\/market-analysis\/gold-news\/gold-jumps-us-dollar-weakens\/","title":{"rendered":"Gold Price News: Gold Jumps Again as US Dollar Weakens"},"content":{"rendered":"\n

Gold prices powered up to new all-time highs on Friday, driven by a weaker US dollar and bullish sentiment linked to expected interest rate cuts.<\/p>\n\n\n\n

Prices pushed up as high as $2,585 an ounce<\/a> on Friday, the highest ever recorded, and building on the previous day\u2019s gains. That compared with around $2,560 an ounce in late trades on Thursday.<\/p>\n\n\n\n

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KAU\/USD 1-hourly Kinesis Exchange <\/figcaption><\/figure>\n\n\n\n

The US dollar fell against other major currencies on Thursday and Friday, supporting gold, as a weaker dollar makes the yellow metal cheaper for buyers in other currencies, boosting demand.<\/p>\n\n\n\n

The effect of currency movements came against a context of a loosening of monetary policy after the ECB on Thursday cut interest rates for the second time in three months. The US Fed is expected to follow suit at a meeting scheduled for September 18, with expectations mixed over whether the bank will cut rates by 25 or 50 basis points.<\/p>\n\n\n\n

Based on data from interest rate traders, the market\u2019s expectations have shifted to a roughly 50-50% probability between a 25 or 50 basis point cut, compared with only a 30% chance of a larger cut just a few days ago.<\/p>\n\n\n\n

Looking ahead, Monday is looking light on data releases and the markets will be focused on Tuesday\u2019s US industrial production and retail sales figures for clues on the state of the economy. Also of interest will be a speech by US Fed officials on Tuesday ahead of Wednesday\u2019s interest rate decision.<\/p>\n\n\n\t\t\t

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Frank\u2019s experience<\/a> covering the commodities markets spans 22 years, with a particular specialism in metals, carbon and energy markets.\u00a0<\/em>He has worked as a senior editor for S&P Global Commodity Insights\u00a0(formerly Platts) and before this, at ICIS-LOR, a part of Reed Business Information (Reed Elsevier), where he covered the petrochemicals markets from 2003 to 2005.<\/em><\/p>\n

This publication is for informational purposes only and is not intended to be a solicitation, offering or recommendation of any security, commodity, derivative, investment management service or advisory service and is not commodity trading advice. This publication does not intend to provide investment, tax or legal advice on either a general or specific basis.<\/i>
\n<\/i><\/p>\n

Read our Editorial Guidelines\u00a0<\/i>here.<\/a><\/i><\/p>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t","protected":false},"excerpt":{"rendered":"

Gold prices powered up to new all-time highs on Friday, driven by a weaker US dollar and bullish sentiment linked to expected interest rate cuts.<\/p>\n","protected":false},"author":50,"featured_media":132005,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[215,91],"tags":[],"class_list":["post-131898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gold-news","category-market-analysis"],"acf":[],"yoast_head":"\nGold Jumps Again as US Dollar Weakens | Kinesis<\/title>\n<meta name=\"description\" content=\"Discover Kinesis' gold news analysis for today, Monday 16th of September 2024, from leading precious metals analyst Frank Watson.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"de_DE\" \/>\n<meta property=\"og:type\" 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