Live Updates > Live Update Details
2025-10-30 09:31:44
Gold prices rose slightly in Asian trading on Thursday, driven by a weaker dollar and the Fed's expected 25 basis point rate cut. Spot gold rose as much as 0.9% to $3,966.35 per ounce, before retreating slightly to around $3,949, a gain of about 0.5%. The Fed cut rates for the second time this year, adjusting the target range for the policy rate to 3.75%-4.00%. Fed Chairman Powell stated that there are clear differences in the future policy path, and the market should not expect another rate cut by the end of the year. Powell's hawkish signals put downward pressure on gold prices overnight. Interest rate and economic uncertainty are beneficial for non-interest-bearing gold. The dollar index fell 0.2% from its two-week high, reducing the cost of gold for holders of other currencies. The market is focused on the meeting between the leaders of China and the US in South Korea. The US seeks to restart the trade truce, but tensions between the two sides persist, and long-term friction is difficult to resolve. Trump and South Korean President Lee Jae-myung finalized details of the US-South Korea trade agreement on Wednesday and expressed optimism about a meeting between the Chinese and US leaders. 5. Holdings of the world's largest gold ETF, SPDR Gold Trust, fell to 1036.05 tons on Wednesday, a decrease of 0.28% from the previous day.
