gold prices rise
|

Gold prices rise ahead of US inflation data

Gold prices advanced nearly 1% on Wednesday as investors reduced expectations of further monetary tightening by the US Federal Reserve and turned their attention to upcoming inflation figures that could provide fresh clues about the central bank’s next policy move.

Spot gold rose 0.9% to $4,406.34 per ounce by 0330 GMT, while US gold futures for December delivery gained 0.6% to $4,466.70.

The precious metal remained supported after recording strong gains in recent sessions, although prices faced technical resistance around the 100-day moving average. Gold had climbed to a 10-week high on Tuesday before retreating from the key technical level near $4,387 per ounce, marking its second decline this month.

Market analysts said changing expectations for US interest rates were providing an important boost to bullion.

“The primary driver for gold is the reduction in pricing of rate hikes by the Fed,” said Kelvin Wong, senior market analyst at OANDA.

He added that gold had also benefited from a technical breakout above the $4,200 level late last week, which helped strengthen upward momentum and encouraged further buying.

Weaker jobs data shifts Fed expectations

Gold’s recent rally has been supported by signs of cooling in the US labour market. Bullion recorded its strongest weekly performance since January on Friday after employment data came in weaker than expected, prompting traders to reassess expectations for further interest-rate increases.

According to the CME FedWatch Tool, markets were pricing in roughly a 50% probability of a rate hike in September, compared with about 60% before the release of the jobs report.

Investors are now awaiting the latest US Consumer Price Index figures, due later on Wednesday. The inflation report could have a significant impact on expectations for the Federal Reserve’s upcoming decisions.

A softer-than-expected inflation reading could reinforce expectations for a less aggressive monetary policy stance, potentially providing additional support to gold. Conversely, stronger inflation could revive concerns about higher interest rates and put pressure on non-yielding assets.

Gold typically benefits from lower interest rates because bullion does not generate interest income. When borrowing costs and bond yields decline, the opportunity cost of holding gold tends to fall, making the metal more attractive to investors.

However, Chicago Federal Reserve President Austan Goolsbee has cautioned that inflation remains a key concern. He said he was more worried about inflation remaining excessively high than about weakness in the labour market, highlighting the challenge facing policymakers as they balance price stability against employment conditions.

Geopolitical tensions add to safe-haven demand

Geopolitical developments in the Middle East also remained an important factor for financial markets.

Oil prices extended their gains after the United States and Yemen’s Iran-aligned Houthi movement reported separate attacks involving shipping on Tuesday. At the same time, hopes for an agreement to end the conflict involving Iran appeared to weaken.

Iran has indicated that the Strait of Hormuz would remain closed unless Washington agrees to its conditions, raising concerns over the potential impact on global energy supplies.

The Strait of Hormuz is a critical route for international oil shipments, and any prolonged disruption could increase energy prices and intensify inflationary pressures worldwide. Such uncertainty can also encourage demand for traditional safe-haven assets such as gold.

Silver, platinum and palladium also advance

Other precious metals followed gold higher during Wednesday’s session.

Spot silver gained 1.2% to $65.46 per ounce. The metal remained below Tuesday’s peak, which marked its highest level since June 22.

Platinum also strengthened, rising 0.6% to $1,754.10 per ounce, while palladium advanced 0.8% to $1,370.86.

Similar Posts

  • | |

    Andrew Garfield heaps praise on Tom Holland’s Sp…

    Andrew Garfield has made it clear that there is nothing but admiration between the actors who have worn Spider-Man’s famous red-and-blue suit. The Amazing Spider-Man star recently opened up about Tom Holland’s portrayal of the beloved Marvel superhero, describing him as an “incredible actor” and expressing genuine excitement for Holland’s continued success as Peter Parker. Speaking during a promotional appearance for his latest film, Garfield was asked about Holland’s time as Spider-Man. Rather than comparing their performances, the Oscar-nominated actor focused on praising his successor, saying, “I love him,” while applauding Holland’s talent and dedication to the role. Garfield also said he is looking forward to seeing Spider-Man: Brand New Day, the latest installment in Holland’s Marvel journey.  Garfield portrayed Peter Parker in The Amazing Spider-Man (2012) and its 2014 sequel before passing the torch to Holland, who officially joined the Marvel Cinematic Universe in 2016. Although each actor has brought a different interpretation to the web-slinging hero, Garfield believes the character is in safe hands. Calling Holland an “incredible actor,” Garfield praised the emotional depth and energy he brings to Spider-Man. His comments reflect the respect that has long existed between the two stars, both on and off screen.  The pair famously shared the screen alongside Tobey Maguire in 2021’s Spider-Man: No Way Home, a film that united three generations of Spider-Man for the first time. Garfield previously described the experience as one of the most joyful moments of his career, saying it felt like celebrating the character’s enduring legacy rather than competing over it. During his latest interview, he joked that while he was simply enjoying the ride, Holland had the difficult task of carrying the film’s emotional weight.  Garfield’s supportive remarks come as excitement builds around Spider-Man: Brand New Day, which marks Holland’s latest outing as the iconic superhero. Fans have also continued to speculate about whether Garfield could one day return to the Marvel universe, though the actor has remained playful and noncommittal whenever asked about future appearances.  For Spider-Man fans, Garfield’s latest comments are another reminder that there is no rivalry between the actors behind the mask. Instead, there is mutual respect and appreciation for the responsibility of portraying one of the world’s most beloved superheroes. As Holland continues to lead the franchise, Garfield says he will be cheering him on—proof that once you’re part of the Spider-Man family, the bond never really disappears.

  • | |

    Was Celeste Rivas pregnant? DA reveals detail in D4vd case

    A key clarification has emerged in the murder case against singer D4vd, as the Los Angeles County District Attorney’s Office confirmed that Celeste Rivas Hernandez was not pregnant at the time of her death, putting to rest speculation that surfaced during recent court proceedings. The clarification follows widespread discussion after prosecutors presented text messages during a preliminary hearing showing that Rivas had previously become pregnant in 2024, when she was 13 years old, and later underwent an abortion. The disclosure led to online speculation that she may have also been pregnant when she died in April 2025. According to the District Attorney’s Office, investigators do not believe Rivas was pregnant at the time of her death. Prosecutors shared the update with People on July 29, explaining that the clarification was issued after an amendment to her death certificate had changed the pregnancy section from “no” to “unknown,” creating confusion about her medical status. The murder case centres on David Anthony Burke, the singer professionally known as D4vd, who has pleaded not guilty to multiple charges, including first-degree murder, continuous sexual abuse of a child under the age of 14 and unlawful mutilation of human remains. During the preliminary hearing, prosecutors introduced text messages exchanged between Burke and Rivas regarding the earlier pregnancy. In one message, Rivas wrote, “Both of us aren’t able to take care of it,” while Burke replied, “I know but still.” Prosecutors presented the messages as part of their evidence during the hearing. Court proceedings also included testimony from investigators and forensic experts as prosecutors argued there was sufficient evidence for the case to proceed to trial. The hearing focused on determining whether enough evidence existed to hold Burke over for trial rather than deciding guilt or innocence. Earlier this week, a Los Angeles judge ruled that prosecutors had presented enough evidence for Burke to stand trial on the charges. The decision came after several days of testimony and the presentation of forensic, digital and documentary evidence by the prosecution. Rivas’ remains were discovered in September 2025 inside the trunk of a Tesla linked to Burke. Authorities later ruled her death a homicide, leading to Burke’s arrest in April 2026. He remains in custody after pleading not guilty to all charges filed against him. The District Attorney’s latest clarification specifically addresses speculation surrounding Rivas’ pregnancy status, confirming that while the teenager had previously experienced a pregnancy more than a year before her death, she was not pregnant when she was killed. Prosecutors said the earlier text messages and abortion were unrelated to her medical condition at the time of her death. The criminal case against Burke will now move forward after the judge’s ruling, with further proceedings expected in the coming weeks as prosecutors continue pursuing the charges against the singer.

  • | | |

    Nationwide petrol pump shutdown announced

    The All Pakistan Petrol Pumps Association has announced a nationwide shutdown of petrol stations from tonight after negotiations with the government failed to resolve the dispute over daily changes in petroleum prices. Association General Secretary Nauman Butt said talks between the Petroleum Minister and petrol pump owners ended without reaching any agreement. He said the association raised concerns over the government’s decision to revise petroleum product prices on a daily basis. However, the discussions did not produce a solution acceptable to both sides. The association has now decided to close petrol pumps across the country as a protest against the unresolved issue. The shutdown announcement has raised concerns about possible disruptions in fuel supply and difficulties for consumers if the strike continues. Further developments are expected as the government and petrol pump representatives may hold additional talks to resolve the matter and restore normal fuel services. The government had earlier decided to introduce a daily petroleum pricing mechanism in view of the deteriorating regional security situation. Under the new policy, the Oil and Gas Regulatory Authority (OGRA) will announce petroleum prices on a daily basis without requiring approval from the prime minister or the federal government. However, fuel prices announced on Fridays will remain unchanged on Saturdays and Sundays. The All Pakistan Petrol Pumps Association (APPPA) has rejected the petroleum price deregulation policy and urged the government to reconsider its decision. Association Chairman Nauman Ali Butt said the burden created by the new pricing system should not be placed on petrol pump owners. He stressed that all stakeholders should be consulted before finalising fuel prices with Oil Marketing Companies (OMCs). Butt added that nearly 15,000 petrol pump owners across Pakistan have expressed serious concerns over the new policy and called on the government to address their reservations before implementing the system.

  • |

    Megan Fox shuts down age-shaming troll over bold photos

    Megan Fox has once again made it clear that she has no intention of letting online criticism dictate how she presents herself. The actress recently responded to an Instagram user who made an age-shaming comment about her decision to share bold photographs at the age of 40. On Thursday, August 13, Fox took to Instagram to share a series of striking images from a recent photoshoot. In the pictures, the actress wore a leather bandeau-style top with matching chaps and string underwear. She completed the look with a bright green furry coat, dark sunglasses and a chunky necklace, creating a dramatic and confident appearance. While many of her followers praised the photos and admired her fashion choices, one social media user criticized Fox for posting revealing pictures at her age. The commenter suggested that Fox was “already old” and claimed that she should not be sharing such images now that she is 40. Rather than ignoring the remark, Fox responded directly and appeared completely unfazed by the criticism. The “Jennifer’s Body” star delivered a short but confident reply, telling the commenter, “Then don’t watch, sister.” Her response quickly drew attention online, with many fans supporting the actress for refusing to entertain age-based criticism. Fox’s reply also reflects her long-standing approach to conversations surrounding beauty, confidence and public expectations placed on women. Although Fox has been widely described as a sex symbol throughout her career, she has previously spoken openly about having a complicated relationship with her appearance. In a 2021 interview with British GQ, she discussed the insecurities that exist behind the image people often see on screen and social media. Fox explained that people can appear extremely confident and beautiful to others while privately struggling with their own self-image. She also revealed that she experiences body dysmorphia and has dealt with deep insecurities. Despite those challenges, the actress has continued to embrace her individuality and make her own choices about fashion and self-expression. Her latest Instagram post appears to be another example of Fox refusing to let other people’s opinions determine what she wears or how she presents herself. Beyond her career and public image, Fox is also focused on her personal life and motherhood. She is a mother of four children. She shares three sons, Noah, Bodhi and Journey, with her former husband Brian Austin Green. She also has a daughter, Saga Blade, with her former fiancé Machine Gun Kelly. As she navigates life as a mother and embraces a new chapter, Fox appears determined to remain confident in her choices. Her brief response to the Instagram troll has once again shown that she is willing to shut down unnecessary criticism on her own terms.

  • | |

    PTI welcomes SC order for Imran Khan’s hospital …

    Pakistan Tehreek-e-Insaf (PTI) has welcomed the Supreme Court’s order directing the transfer of party founder Imran Khan to Shifa International Hospital for medical treatment. The party described the decision as an important step toward protecting Imran’s health and ensuring his constitutional and legal rights. PTI also welcomed the court’s direction allowing him to meet his family once a week. According to the court’s order, Imran will be shifted to the hospital for treatment for the next few days. A medical board will examine him and assess his condition. The board will include specialists in eye care, general medicine and cardiology. PTI said the involvement of Imran’s personal physician, Dr Faisal Sultan, and his sister, Dr Uzma Khan, would help ensure a comprehensive review of his medical history and current condition. The party said concerns over Imran’s health had increased in recent weeks. It maintained that he should receive treatment under the supervision of specialist doctors and have access to his personal physicians. PTI also appealed to its workers and supporters not to gather outside Shifa International Hospital after Imran’s transfer. The party urged them to maintain a peaceful environment and cooperate with authorities so the court’s directions could be implemented without disruption. Khyber-Pakhtunkhwa Chief Minister Sohail Afridi also welcomed the Supreme Court decision. He said the order for Imran’s hospital transfer and weekly family meetings should be implemented without delay. Afridi said PTI had repeatedly demanded medical treatment and examinations under the supervision of Imran’s personal doctors. He argued that the decision should have been taken earlier but said the party would respect the court’s directions. Former National Assembly speaker Asad Qaiser described the ruling as an important development for Imran’s fundamental, constitutional and legal rights. He called for the decision to be implemented fully and without delay. PTI Secretary General Salman Akram Raja said obtaining reliable information about Imran’s health and ensuring his recovery remained the party’s primary concern. He also reminded supporters of the commitment given to the Supreme Court that workers would not gather outside the hospital. PTI Chairman Barrister Gohar Ali Khan similarly urged the government to implement the order. Speaking outside Parliament, he said Imran had spent a prolonged period in detention and should now receive the medical care ordered by the court. Former federal minister Asad Umar also welcomed the ruling while questioning why similar action had not been taken earlier. He referred to previous concerns over Imran’s eyesight and said the decision was better late than never. Imran’s international affairs adviser, Zulfikar Bukhari, also welcomed the development, saying that when courts perform their constitutional role, the country benefits. He expressed hope that there would be no unnecessary obstacles to implementation. Tehreek Tahaffuz-e-Ayin-e-Pakistan chief and opposition leader Mahmood Khan Achakzai also backed the ruling. He said prisoners, regardless of the charges against them, retain basic rights to medical treatment, family contact and legal representation. The Supreme Court’s decision followed reports concerning Imran’s health and recommendations for increased contact with his immediate family. A medical board and the Adiala Jail superintendent had earlier submitted reports to the court regarding his condition and access to family members and doctors. A three-member Supreme Court bench headed by Justice Shahid Waheed heard matters relating to Imran’s access to his sisters, personal physicians and medical records. The court directed that Dr Faisal Sultan be allowed to examine Imran and ordered the formation of the new medical board. Dr Uzma Khan will also be associated with the board. The court further directed Imran’s family to bear the cost of his treatment at the hospital. It also ordered that his family and lawyers refrain from sharing his medical reports with the media. Justice Naeem Akhtar Afghan directed that Imran’s medical report be kept confidential.

  • |

    Younis Khan says give me freedom to deliver, not power

    KARACHI: Former Pakistan captain Younis Khan has said he is ready to serve Pakistan cricket in any capacity, provided he is given the freedom to perform his responsibilities without unnecessary interference. Speaking to reporters in Karachi, the legendary batter said he has consistently conveyed the same message to successive Pakistan Cricket Board (PCB) chairmen: if entrusted with a role, he should be allowed to carry it out independently. “I have always told PCB chairmen that if you give me a role, give me the complete opportunity to do the job. Don’t tie my hands,” Younis said. Addressing speculation that he seeks greater authority within the cricket setup, the former skipper dismissed the perception, insisting that his focus has always been on delivering results rather than acquiring power. “I often hear people saying Younis Khan wants power. What would I do with power?” he remarked, adding that he has never pursued positions for influence but has instead emphasized the importance of professional autonomy. Younis said that whenever he discussed working with the PCB, his only condition was to be allowed to build and develop the team according to the responsibilities assigned to him. He also downplayed the importance of financial incentives, saying that freedom to work effectively mattered more than salary or contractual packages. “For me, independence in my work and the ability to deliver are far more important than any package,” he said. “If I were ever to negotiate over financial matters, it would be for the player in the weakest position, not for myself.” Reflecting on Pakistan cricket’s future, Younis expressed confidence that the national team could regain its former strength if players accepted greater responsibility and adopted a long-term mindset. He recalled the period after the 2003 ICC Cricket World Cup, when the departure of senior players created challenges but also opened opportunities for younger cricketers to step up. “We accepted responsibility after the 2003 World Cup. If today’s players think bigger and take ownership, the results will also be bigger and more positive,” he said. Younis’ comments come amid ongoing discussions about Pakistan cricket’s direction and the role experienced former players can play in rebuilding the national team’s competitiveness.

Leave a Reply

Your email address will not be published. Required fields are marked *