SoraMacro Briefs

Strong GDP, Hot Core PCE Push Gold Below $4,030

Gold slid toward three-month lows on Thursday after a batch of fresh US economic data showed the world's largest economy accelerating even as inflation stayed elevated, a combination that reinforces the Federal Reserve's reluctance to signal further easing. The government's first…Read more →

Fed Holds Rates With Rare Double Dissent, Gold Holds Near $4,057

The Federal Reserve left its benchmark interest rate unchanged at 3.75 percent to 4.00 percent on Wednesday, but the 10-2 vote exposed a rare split on the committee that is now shaping gold's near term outlook. Fed Governor Lisa Cook and Cleveland Fed President Beth Hammack both…Read more →

Saudi Refinery Attack Lifts Oil, Pressures Gold Before Fed Decision

Gold slipped on Wednesday after an attack on a refinery in Saudi Arabia, the world's top crude exporter, pushed oil prices more than 1% higher and revived inflation worries just hours before the Federal Reserve's policy announcement. Spot gold eased roughly 0.2% to near $4,050 an…Read more →

Localized Ukraine Truce Begins as Russia Launches Massive Barrage

A narrow, humanitarian ceasefire brokered by US First Lady Melania Trump took effect early Tuesday in the Russian-occupied city of Oleshky, aimed at letting aid reach trapped civilians and allowing evacuations across the Dnipro River from Kherson. Both the Kremlin and Kyiv confir…Read more →

Gold ETFs Post First Outflow in 13 Weeks as Price Slides

Global gold-backed exchange-traded funds recorded net outflows last week for the first time in 13 consecutive weeks, according to World Gold Council data reported Wednesday. Investors pulled $3.01 billion from physically backed gold ETFs worldwide while new investment totaled jus…Read more →

Gold Slips Toward $4,000 as Standard Chartered Flags Critical Juncture

Gold futures opened at $4,032.80 per troy ounce on Tuesday, slipping further to around $4,025 in early trading as investors braced for the Federal Reserve's policy decision later in the day. The move extends a week-long slide that has left the metal within striking distance of th…Read more →

Saudi Mediation With Iran Collapses as US Readies Post-Election Strike

Saudi Defence Minister Prince Khalid bin Salman returned from Tehran on October 26 without securing a ceasefire, after leading the first joint visit by the Makkah pact allies, Saudi Arabia, Pakistan and Turkey, to Iran since their mutual defence agreement was signed in August. Th…Read more →

Gold Rebounds Above $4,000 as Oil Pulls Back From Highs

Spot gold climbed back above $4,000 an ounce on Monday, rising 0.4 percent to $4,009.87, after closing below that threshold on Friday for the first time since mid-July. December gold futures gained a similar amount to $4,023.50. The move came as Brent crude retreated roughly 2 pe…Read more →

Houthi Threats on Saudi Airport Fuel Oil Surge, Pressure Gold

Gold is caught in a tug of war between inflation fears and safe haven demand after Yemen's Iran backed Houthi movement renewed its threat on Sunday to keep striking Saudi Arabia's King Khalid International Airport in Riyadh, just as flights were set to resume there. The threat ca…Read more →

Goldman Sachs: Central Banks Quadruple Gold Buying, Shift Reserves Out of US

Goldman Sachs has told clients in a note this week that central banks around the world purchased an estimated 79 tonnes of gold in August, more than four times the pre-2022 monthly average of 17 tonnes recorded before Russia's invasion of Ukraine. On a three-month seasonally adju…Read more →

Hormuz Tanker Attacks Escalate Iran Crisis, Create Gold Paradox

The Strait of Hormuz crisis deepened sharply this week after Iran claimed that seven oil tankers were damaged or caught fire overnight following strikes or encounters with naval mines in the critical waterway. Iran's Revolutionary Guard renewed warnings that United States militar…Read more →

Gold Tests $4,000 Floor as Analysts Warn of 12% Slide to $3,500

Spot gold extended its slide on October 22, falling as much as 2 percent intraday to a low near $4,059 per ounce, putting the psychologically important $4,000 level back in play for the first time since gold rebounded from that same floor earlier in the year on its way to an Augu…Read more →

Gold Slides to Three-Month Low as Saudi Oil Attack Fuels Oil Surge

Gold tumbled to test its lowest levels in nearly three months on Thursday, with XAU/USD sinking to around $4,070 before finding a tenuous floor, as a sharp escalation in Middle East energy risk pushed crude oil prices to multi-month highs and overwhelmed gold's usual safe-haven b…Read more →

Russia Hits Ukraine With 60 Strikes on Energy Grid in Three Days

Ukraine's government has formed an emergency coordination headquarters after Russian forces carried out roughly 60 targeted strikes on energy and oil and gas infrastructure since October 19, hitting the Rivne, Volyn, Khmelnytskyi and Vinnytsia regions as well as Kyiv's power hub,…Read more →

Metals Focus Sees Gold Averaging $5,600 in Q4 2027 as Demand Splits

Gold is trading a split demand picture this week, with a notable new institutional price call layered on top. Metals Focus director Matthew Piggott has told reporters the metal's recent softness below $4,200 looks like consolidation rather than the start of a bear market, arguing…Read more →

Gulf States Invoke Mutual Defense Pact as Houthi Attacks Escalate

The Gulf Cooperation Council issued a formal condemnation of Yemen's Houthi movement on Sunday, declaring that an attack on any of its six members, Saudi Arabia, Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates, would be treated as an attack on all of them. The statement…Read more →

Ukraine's Massive Drone Strike on Russia Reignites Gold's Risk Premium

Ukraine launched one of the largest drone assaults of the war on Russia overnight into October 18, sending more than 1,000 drones toward Moscow, St. Petersburg and surrounding regions. Russia's Ministry of Defense said it shot down roughly 1,015 drones, but strikes still hit a ma…Read more →

BlackRock Blasts Gold Miners' Buybacks, AngloGold Pushes Back

BlackRock has opened a public rift with the world's largest gold miners over how they are spending record profits. Speaking at the Financial Times Mining Summit in London this week, Evy Hambro, BlackRock's global head of thematic and sector investing, said the roughly 12 billion…Read more →

China's Central Bank Bought 23 Tonnes of Gold in September, WGC Reports

China's central bank added 23 tonnes of gold to its official reserves in September, according to Ray Jia, the World Gold Council's research head for China, in commentary published by Kitco News. The report also found that China's domestic gold ETFs logged healthy inflows during t…Read more →

Hormuz Attacks Hit War-High as Houthis Strike Yemen Palace, Aramco

Attacks on commercial shipping in the Strait of Hormuz have reached their highest level since the US-Israel-Iran war began in February, with at least ten vessels struck in or near the waterway since Sunday, according to security data from Vanguard, the International Maritime Orga…Read more →