Gold prices holds steady, platinum scales over 10-year high
Gold prices held steady as investors kept an eye on the conflict between Israel and Iran, while platinum scaled its highest level since September 2014 on speculative buying.
Spot gold was steady at $3,369.79 an ounce at 0955 GMT. U.S. gold futures fell 0.6% to $3,387.30.
"We're not expecting that gold prices will fall back to 3,000 because there are a lot of uncertainties," said ANZ Commodity Strategist Soni Kumari, pointing to whether the U.S. decides to become directly involved in the conflict.
Iranian missiles struck an Israeli hospital on Thursday while Israel hit targets across Iran as President Donald Trump kept the world guessing about whether the U.S. would join Israel in air strikes seeking to destroy Tehran's nuclear facilities.
Meanwhile, the Fed held interest rates steady on Wednesday and policymakers still forecast cutting rates by half-a-percentage point this year, but slowed their overall outlook for rate cuts in response to a more challenging economic outlook.
However, Fed Chair Jerome Powell cautioned against putting too much weight on this outlook, warning of "meaningful" inflation ahead as higher import tariffs loom.
Gold is considered a safe-haven asset during times of geopolitical and economic uncertainty. It also tends to thrive in a low-interest rate environment.
In other metals, platinum lost 2.5% to $1,288.67, but hit its highest level since September 2014 earlier in the session.
Platinum prices are supported by rising Chinese imports, ongoing supply concerns, high lease rates and increased investor interest as high gold prices push consumers toward cheaper alternatives.
The fundamentals in the platinum market have not changed, whenever a key technical level such as the 1,000 mark is broken, investors and the speculators will start buying, Kumari said.
Palladium lost 1% to $1,038.18, while silver fell 1.1% to $36.32 per ounce.
(Reporting by Anushree Mukherjee in Bengaluru;Editing by Elaine Hardcastle)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
UAE Moments
5 hours ago
- UAE Moments
US President Trump Extends TikTok Sale Deadline by 90 Days
In a significant move, U.S. President Donald Trump has extended the deadline for ByteDance, TikTok's parent company, to sell the popular video-sharing app's U.S. operations by 90 days. The US President posted on Social Truth, "I've just signed the Executive Order extending the Deadline for the TikTok closing for 90 days (September 17, 2025)." The TikTok ban took effect on January 19, one day before President Trump's inauguration. Upon taking office, President Trump gave TikTok 75 days to divest its U.S. business, but a second extension pushed the deadline to Thursday, June 19, but now the deadline is September 17. "We are grateful for President Trump's leadership and support in ensuring that TikTok continues to be available for more than 170 million American users," TikTok said in a statement. This article was previously published on saudimoments. To see the original article, click here
UAE Moments
5 hours ago
- UAE Moments
♑ Capricorn: Daily Horoscope for June 19, 2025
Capricorn, today the universe invites you to embrace change and transformation. With the Moon in Aries sextile Pluto in Aquarius, your ambitious nature is supported by cosmic energies. Love Horoscope In the realm of love, dear Capricorn, today is a day to embrace the unexpected. The Moon in Aries encourages you to take bold steps in your relationships. If you've been holding back your feelings, now is the time to express them. Whether it's a simple gesture of affection or a heartfelt conversation, your openness will be appreciated. Remember, vulnerability can be a strength, not a weakness. For those single, a spontaneous encounter might spark something exciting. Keep your heart open and let the universe surprise you. Career Horoscope In the workplace, Capricorn, today is a day to harness the ambitious energy of the Moon in Aries. This aspect with Pluto in Aquarius supports bold career moves and innovative thinking. If you've been contemplating a new project or a change in direction, now is the time to act. Your natural discipline and foresight will guide you to make strategic decisions. Collaborate with colleagues who share your vision, and don't shy away from taking the lead. Your determination and hard work will not go unnoticed, paving the way for future success. Health Horoscope Today, Capricorn, your well-being is enhanced by the dynamic energy of the Moon in Aries. It's a perfect day to engage in physical activities that invigorate your body and mind. Consider a brisk walk in nature or a new workout routine to channel this vibrant energy. Remember, balance is key, so ensure you also take time to relax and recharge. Meditation or a quiet moment of reflection can help you maintain inner peace. Embrace the day with a spirit of adventure, and you'll find your vitality renewed. Finance Horoscope Financially, Capricorn, today's celestial alignment encourages you to be strategic and forward-thinking. The Moon in Aries sextile Pluto in Aquarius suggests that innovative ideas could lead to financial growth. It's a good time to review your investments or consider new opportunities that align with your long-term goals. However, remain cautious and avoid impulsive decisions. Trust in your ability to make wise choices and remember that patience often leads to the best outcomes. Your disciplined approach will serve you well.
UAE Moments
5 hours ago
- UAE Moments
Your Career Horoscope for June 20, 2025
Today is all about staying open, observant, and letting things align behind the scenes before making your next big move. Find daily astrological predictions for all sun signs for June 20. We recommend reading the horoscopes for your rising sign. Aries Career Horoscope Ahead of the Moon's return to your income sector tomorrow it is not just the money gods that are calling for a wait and see approach ahead of the Moon's return to your income sector tomorrow. As well as the Moon's only visit while Venus, the planet of money is there, this first visit since Mars returned to your work sector earlier in the week will not only sharpen your nose for money but over the next few days, act as a trigger for rising income and job potential. Taurus Career Horoscope With Mars gone from your home and family sector and Mercury still seven days away, the pressure is off Pluto in your career sector and with it any work/life balance tension this has created. Yet the pressure might be off, but the message is not only still important, but something that even the professional gods are pressing for. With Pluto in retrograde motion and the second half of the year set to be the busiest, it is all about pacing yourself. Gemini Career Horoscope Whether it was the Moon's departure from your career sector yesterday or Mercury moving into his final seven days in your income sector today, they share something in common. They have both spent the last few days not only connecting with each other, but with the North Node on the career and the asteroid Juno on the job front. With your professional instincts and a smart head for money now on the same page, financially and professionally, there is a chance to move forward with confidence. Click here to follow our WhatsApp channel for tarot readings, love, health, career, and Chinese horoscopes delivered to your phone daily! Cancer Career Horoscope While the Moon is making its ordinary monthly visit to your career sector, after last week's Full Moon on the job front and Mars left your income sector three days ago, this is the perfect chance to regroup. While the Moon will connect with all five planets in your career sector as it moves through, all while fuelling your professional instincts and imagination, it is an alignment with the dwarf planet Ceres today that brings a chance to lift to covers on your real professional needs and priorities. Leo Career Horoscope The lead up to the Moon's return to your career sector tomorrow brings you to an important point in any month for having your antennas up while keeping an open mind. Even more so as this will not only be the Moon's only visit while Venus is here and the last before after six years of keeping things on track Uranus leaves, but the first since Mars returned to your income sector earlier in the week. Over the weekend and heading into the new working week, this will pull everything together. Virgo Career Horoscope Knowing held back by a retrograde phase Venus won't return to your career sector until early next month, but when she will be bringing Uranus, the planet of surprise, synchronicity and the unexpected with her as he returns for the first time in eight decades, makes it important to keep an open mind. Knowing that this professional year still has some wildcards up its sleeve, the Sun's last full day is more about observing while seeing this not as the finishing line but as a new starting line. Libra Career Horoscope As well as leaving you with your instincts sharp and a download of information and insight to unpack, when the Moon left your work sector yesterday, this left you with everything needed to move into Mercury's final seven days in your career sector and ahead of the Sun's return tomorrow with confidence. The same aspects the Moon made over the last few days, Mercury has already made or will do by the end of the weekend, this time with a smart and practical filter. Scorpio Career Horoscope Three days after Mars left your career sector and with Mercury still seven days away from returning to begin the next chapter, the Moon's monthly visit to your work sector is a chance to check in with the five planets here. While they all offer something different, the Moon's alignment with the dwarf planet Ceres today is a chance to focus on her deep dive into your needs and priorities on the job front. Especially when it comes to job satisfaction and a sense of purpose. Sagittarius Career Horoscope The lead up to the Moon's return to your work sector tomorrow is an important point in any month for having your antennas up while keeping an open mind. Especially as this won't just be the Moon's only visit while Venus is here or the last before after six years Uranus is due to leave, but the first since Mars returned to your career sector three days ago to fire things up on the career front. When the Moon returns tomorrow, this will start to bring everything together. Capricorn Career Horoscope After Jupiter and Mercury left yesterday, when the Sun leaves your work sector tomorrow, this will leave it empty for the first time since May 2026. Yet rather than anything finishing, with Venus and Uranus returning early next month to usher in a whole new chapter and the second half of the year full of new career potential, while the solar spotlight is still on your work situation, job matters and options it is all more observing, ready to draw a new line in the sand. Aquarius Career Horoscope While Mercury only returned to your work sector last week and today moves into the final seven days of his short visit, he is here when it counts. Having returned a day before Jupiter last week and still here when the Sun returns tomorrow and for next week's New Moon, Mercury is not just giving you everything needed to keep your head in the game and your feet on the ground, but like the Moon over the last few days, is connecting with forces across the income, work and career fronts. Pisces Career Horoscope In between Mars' departure from your work sector three days ago and Mercury's return in seven days to usher in the next chapter, there is a valuable chance to take your work hat off, let things play out and also recharge your batteries. Planetary activity on the job front is far from over and instead is taking a 10 day rest, with the Moon's monthly visit to your income sector making today more about the money.
