Moody, Gold
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Moody, Bond and Debt
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Gold prices drifted higher on Monday, steered by a softer dollar and safe-haven demand after Moody's downgraded the U.S. government's credit rating. Spot gold rose 0.9% to $3,229.51 an ounce by 1315 ET (1715 GMT).
Gold price rises as dollar weakens, Moody’s downgrade fuels demand. Traders eye breakout above $3,238 for bullish momentum in XAU/USD.
Gold prices edged higher as investors reacted to a weaker U.S. dollar, upcoming Fed rate decisions, and growing interest in U.S. tariff policy and Russia-Ukraine peace talks. Spot gold rose to $3,236.
Gold prices rose more than 1% on Monday, helped by a weaker dollar and safe-haven demand after Moody's downgraded the U.S. government's credit rating amid lingering trade concerns.
Gold prices rebounded on May 21, after a slight drop which was seen in the previous day. Gold's June contracts on the Multi Commodity Exchange of India (MCX) opened at Rs 95,344 per 10 gram today. Let's check the latest prices of 10 grams of 22 carat and 24 carat gold in major cities of the country on May 19:
So, Moody’s downgraded U.S. sovereign credit rating from AAA to AA1, which means that the U.S. debt is no longer top-rated. This was the last of the major agencies to cut this rating. What does it change?
Gold prices rose on Wednesday to their highest levels in a week as the dollar weakened and investors sought safety amid U.S. fiscal uncertainty, with Congress debating a sweeping tax bill.