Stock Market Update
16-May-25 14:00 ET
Gold suffers worst week in six months as safe-haven demand ebbs on U.S.-China truce, stronger dollar
Dow +207.48
at 42530.23,
Nasdaq +42.18
at 19154.50,
S&P +24.79
at 5941.72
[BRIEFING.COM] With about two hours to go on the week the tech-heavy Nasdaq Composite (+0.22%) is underperforming its major counterparts.
Gold futures settled $39.40 lower (-1.2%) at $3,187.20/oz, ultimately down -4.7% on the week, the yellow metal's worst weekly losses in six months. The fall was driven by easing geopolitical tensions after a U.S.-China tariff truce, which reduced safe-haven demand, alongside a stronger U.S. dollar and rising Treasury yields. While expectations for future Fed rate cuts persist, they were overshadowed by current macro headwinds. Still, long-term support remains intact, with continued central bank buying and revived demand in Asia following the price pullback.
Meanwhile, the U.S. Dollar Index is up +0.3% to $101.15.
