Gold costs declined for the third consecutive session, ING’s commodity specialists Ewa Manthey and Warren Patterson notice.
Gold costs drop amid the power within the USD
“Spot costs dropped under US$3,330/oz on Friday amid the power within the US greenback and Treasury yields. President Donald Trump downplayed tensions with Federal Reserve Chair Jerome Powell final week, easing issues over the Fed’s independence.”
“In the meantime, US jobless claims fell for a sixth straight week, the longest streak since 2022. That pushed Treasury yields larger whereas weighing on non-yielding Gold. The market is anticipating fewer than two charge cuts by the Fed this 12 months, with the primary minimize anticipated in October.”
