ENFIELD
HACKNEY
HARINGEY
ISLINGTON
Today’s markets analysis on be
Gold prices were relatively steady and remained above the USD 3,640 level on Friday, leaving the metal on track for a flat or marginally positive weekly close after four weeks of strong gains. Profit-taking after hitting record highs on Wednesday and a rise in US Treasury yields weighed on sentiment, but safe-haven demand helped limit losses.
Markets continued to digest the Federal Reserve’s 25-basis-point rate cut this week. Chair Jerome Powell described the move as a measured response to a cooling labour market, while stressing that the central bank would proceed cautiously with any further easing. However, a fall in jobless claims to 231,000 in last week’s data eased fears of a rapid labour market deterioration.
Meanwhile, global policy developments added to the backdrop, with both the Bank of England and Bank of Japan holding interest rates steady this week. However, geopolitical tensions in the Middle East and Eastern Europe continued to be a key support for bullion.
Zaid Barem / ymm
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