Stock Market Update
06-May-25 14:00 ET
Gold surges to two-week high as safe-haven demand rises ahead of Fed decision
Dow -412.70
at 40805.27,
Nasdaq -169.59
at 17674.65,
S&P -46.87
at 5603.51
[BRIEFING.COM] With about two hours to go on Tuesday the tech-heavy Nasdaq Composite (-0.95%) is in second place, down just shy of 170 points.
Gold futures settled $100.50 higher (+3.0%) at $3,422.80/oz, a two week high as investors sought safety amid rising geopolitical and economic uncertainty. Investors are also eyeing the Fed's upcoming policy decision, with expectations that rates will be held steady between 4.25% and 4.50% and speculation growing over potential cuts later this year -- another tailwind for gold.
Meanwhile, the U.S. Dollar Index is now -0.5% lower to $99.30.
