Stock Market Update
12-Jun-25 14:00 ET
Gold soars $59 to $3,402 on dovish Fed bets, weak dollar, and geopolitical jitters
Dow +77.66
at 42943.43,
Nasdaq +50.53
at 19666.38,
S&P +18.78
at 6041.02
[BRIEFING.COM] With about two hours to go on Thursday the tech-heavy Nasdaq Composite (+0.26%) sits in second place, up about 50 points.
Gold futures settled $58.70 higher (+1.8%) at $3,402.40/oz, as traders scrambled into the yellow metal amidst a convergence of risk factors and dovish macro signals. A softer-than-expected U.S. inflation print rekindled expectations of Federal Reserve rate cuts, while the U.S. dollar slid to multi-week lows, amplifying gold's appeal. Rising geopolitical uncertainty -- from Middle East tensions to ongoing U.S./China trade negotiations -- further fueled safe-haven demand. Technical momentum also added fuel, with bulls eyeing a potential breakout beyond the April all-time high near $3,425.
Meanwhile, the U.S. Dollar Index slips about -0.7% to $97.94.
