Gold prices fell over 1% to end the week as the dollar held close to two-week highs after U.S. inflation data came in line with expectations, suggesting the Federal Reserve may adopt a cautious stance on additional rate cuts.
The Gold dropped 0.6% against the Dollar in the last session. The MACD is giving a negative signal.
Support: 2779.6 | Resistance: 2937.7
General Motors said it would increase its quarterly dividend by 25% and undertake a new $6-billion share buyback program. Shares of the automaker rose about 6%. The quarterly dividend increase from 12 cents to 15 cents a share will take effect with the company’s next planned dividend in April 2025.
Gold prices eased after a recent record rally, while investors looked towards inflation data due later this week and the latest developments on U.S. President Donald Trump’s tariff plans.
The Gold-Dollar pair corrected downwards in the last session, falling 0.1%. According to the Stochastic-RSI, we are in an oversold market.
Support: 2853.9 | Resistance: 2971.7
A draft U.S.-Ukraine deal on critical minerals and robust corporate earnings helped European shares close at a record high. Global shares also gained and benchmark Treasury yields notched their sixth straight day of declines.
The dollar retreated, extending declines after a soft reading on U.S. consumer confidence and a drop in U.S. yields weighed, while optimism for more spending in Germany helped lift the euro.
AI-linked shares fell, in lead-up to AI bellwether Nvidia’s quarterly earnings, which could offer clarity on demand and justify the sector’s lofty valuations. Technology stocks globally sold off this week after a TD Cowen analyst note said Microsoft has canceled leases for sizeable data center capacity in the U.S.
