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Gold prices retreat on Thursday amid a de-escalation of US President Donald Trump’s rhetoric over Iran. Also, solid jobs data in the US prompted investors to trim Federal Reserve (Fed) rate cut bets. At the time of writing, XAU/USD trades at $4,609. Bullion eases as easing geopolitical tensions and strong US data lift risk appetite and support the Dollar Risk appetite improved on Thursday, sponsored by a recovery of global equities, along with Trump’s delaying an attack on Iran after he was briefed by sources “on the other side” that Tehran would stop killing people involved in the protests, reported Bloomberg. When asked about a military action, he said that he would “watch it” and see how the process evolves. Trump added that he does not plan to fire the Fed Chair Jerome Powell, despite the Department of Justice’s (DOJ) investigation over the Fed building renovations. Economic data proves that the US economy remains solid following the release of jobless claims data for the last week. This, along with solid regional manufacturing surveys revealed by the New York and Philadelphia Fed, reassured the markets that the US economy is in a no-firing, no-hiring environment. Money markets had priced in 47 basis points of rate cuts by the Fed towards the year’s end, as revealed by the Prime Market Terminal Interest rate probability tool. Source: Prime Market Terminal Recently, Fed officials crossed the wires, led by Regional Fed Presidents Raphael Bostic and Austan Goolsbee, who spoke earlier in the day. Ahead, the US economic docket will feature Industrial Production and speeches by Fed Governors Michelle Bowman and Philip Jefferson. Daily digest market movers: A strong US Dollar weakens Bullion prices Initial Jobless Claims for the week ending January 10 were solid, with the number of Americans applying for unemployment insurance dipping…

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Filed under: News - @ January 15, 2026 8:25 pm