From Investing.com: 2025-05-08 04:37:00

Gold prices initially fell by 1.95% after the Fed maintained interest rates, but later climbed higher due to Trump’s comments on Chinese tariffs. The lack of progress in trade talks and the Fed’s concerns about inflation and unemployment boosted gold as a safe-haven asset. XAU/USD may rise further based on the Bank of England’s rate announcement and the US Jobless Claims report.

The euro weakened by 0.59% following the Fed’s decision to keep rates steady. The USD remained strong amidst expectations of easing trade tensions. EUR/USD stayed above the 50-day moving average, with volatility expected from the BoE’s rate decision and the US Jobs report.

GBP decreased by 0.6% ahead of the BoE’s anticipated 25 bps rate cut. The bank is expected to address concerns over slowing economic growth due to trade tariffs. GBP/USD may fluctuate based on the BoE’s tone during the rate announcement and the impact on future rate reductions.



Read more at Investing.com: Gold Prices Rise Amid Fed Rate Pause and Trade Uncertainty