Gold heads for weekly drop as US recession fears calm down

Quick Summary:

GOLD eased on Friday as the latest jobs data eased concerns on U.S.recession, with prices set for a weekly decline after a global sell-off earlier in the week led to big losses in bullion, while traders awaited further clues on U.S.rate cuts.

The dollar hovered close to a one-week high, making bullion more expensive.

Markets see a 100% chance of a U.S.cut rate in September, according to the CME FedWatch Tool.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: EconomyBusiness

Markets: Malaysia

Topics: Recession Commodities Gold /Business/Business News CPI Bullion

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-09 @ 20:10:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 358 words

Reading Time: 2 minutes read

Sentences: 14 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Star

News ID: 21998868

View Article Analysis

About The Star

Main Topics: EconomyBusiness

Official Website: thestar.com.my

Update Frequency: 67 posts per day

Year Established: 1971

Headquarters: Malaysia

News Last Updated: 1 hours ago

Coverage Areas: Malaysia

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #22

Publisher Details

Frequently Asked Questions