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Gold price struggles to capitalize on intraday gains amid receding Fed rate cut bets

Concerns about Trump’s trade tariff and a modest USD weakness underpin the XAU/USD pair.

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Gold price (XAU/USD) builds on the previous day’s bounce from the $2,864 region touched in reaction to hotter US consumer inflation figures and gains some follow-through positive traction for the second straight day on Thursday. A fresh leg down in the US Treasury bond yields exerts downward pressure on the US Dollar (USD), which, in turn, is seen benefiting the USD-denominated commodity. Apart from this, worries about US President Donald Trump’s tariffs and a global trade war underpin the safe-haven bullion.

Meanwhile, the hotter US consumer inflation figures released on Wednesday reaffirmed market expectations that the Federal Reserve (Fed) will stick to its hawkish stance and hold interest rates steady for an extended period. This could act as a tailwind for the US bond yields and the Greenback, which, in turn, acts as a headwind for the non-yielding Gold price amid still-overbought conditions on the daily chart. Traders now look forward to the release of the US Producer Price Index (PPI) for some meaningful impetus.

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International News

Chow Tai Fook Cashes In On Hong Kong’s Tourism Comeback

As Travelers Return and Gold Prices Wobble, The Jewelry Giant Proves A 52% Profit Jump Is Anyone’s Best Accessory

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Hong Kong jewelry giant Chow Tai Fook just wrapped up its fiscal year with fantastic  numbers -group revenue climbed 5% to HKD 94.4 billion (about $12.05 billion), while profit didn’t just grow, it basically exploded — up 52% to a record HKD 9.08 billion ($1.15 billion).

So what’s behind the glow-up? Two words: tourists and trust. As travelers flooded back into Hong Kong and Macau, same-store sales there jumped a staggering 17%. Mainland China wasn’t far behind, posting 7% growth even as the company admitted things got a little shaky in the final quarter thanks to gold prices doing their usual rollercoaster routine.

Chow Tai Fook didn’t just get lucky — they’ve been quietly reinventing themselves. Think less “grandma’s jewelry counter,” more curated boutique energy: trading out older locations for spots in upscale malls and leaning hard into branded collections instead of generic gold-by-the-gram sales.

Fixed-price jewelry (the stuff with a set price tag, not market-rate gold) shot up 16%, with the diamond-studded Hua Collection emerging as one of the year’s breakout hits. Gold jewelry sales overall: up a modest 3%.Store count: 5,540 in mainland China, 96 across Hong Kong and Macau

In its own words, the company chalked up the rebound to brand transformation efforts paying off even amid a softer mainland market. At the same time, the tourism recovery did some heavy lifting for Hong Kong and Macau sales. Chow Tai Fook believes fiscal 2027 will be much stronger, with “significantly fewer” store closures, as demand stabilizes.

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