Bitcoin price today: rebounds to $58.5k as Mt Gox losses draw bargain buying

Bitcoin price rose higher on Wednesday, recovering further from recent losses as bargain hunters took advantage of recent price declines, although sentiment remained negative in the face of increased supply due to Mt Gox and the German government. 

World no.2 token Ether also advanced, extending a recent recovery as markets awaited a key decision from the Securities and Exchange Commission on a spot exchange-traded fund. 

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Gold prices advance with Powell testimony in focus

Gold prices rose in Asian trade on Tuesday, recouping some overnight losses as traders held out for dovish signals from an upcoming testimony from Federal Reserve Chair Jerome Powell. 

The yellow metal retreated on Monday, but was still sitting on some gains through the past week as a swathe of soft labor market readings pushed up expectations for an interest rate cut in September. A weak dollar also aided gold’s advance.

Spot gold rose 0.4% to $2,367.97 an ounce, while gold futures expiring in August jumped 0.5% to $2,374.40 an ounce by 00:21 ET (04:21 GMT). 

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Dollar gains ahead of Powell testimony; euro stabilizes

The U.S. dollar edged higher in early European trade Tuesday, bouncing off its lowest level in a month ahead of Fed Chair Jerome Powell’s testimony to the Senate, while the euro has held its ground amid a volatile French political climate.

At 04:45 ET (08:45 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% to 104.737, just above the overnight low of 104.622.

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Oil settles lower on worries Hurricane Beryl could hit US demand

Oil prices settled down about 1% to a one-week low on Monday as Hurricane Beryl shut U.S. refineries and ports along the Gulf of Mexico, and on hopes a possible ceasefire deal in Gaza could reduce worries about global crude supply disruptions.

Brent futures fell 79 cents, or 0.9%, to settle at $85.75 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 83 cents, or 1.0%, to settle at $82.33.Hurricane Beryl lashed Texas with strong winds and heavy rain as it churned inland. Oil ports closed, hundreds of flights were canceled and over 2.7 million homes and businesses lost power.

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Oil prices settle lower but notch fourth-weekly gain on demand optimism

Oil prices notched a fourth-weekly despite settling lower Friday, as traders cheered signs earlier this week that usual pick in summer energy demand is underway at time when weather-related supply disruptions remain in focus.  

At 14:30 ET (18:30 GMT), Brent oil futures fell 1% to $86.54 a barrel, while West Texas Intermediate Crude futures fell 0.9% to $83.16 a barrel.

Crude prices were headed for a fourth week of strong gains, amid expectations that oil markets will tighten further in the coming months, although trading volumes were muted on account of the U.S. market holiday on Thursday.

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Dollar slips ahead of payrolls; sterling gains post election

The U.S. dollar retreated in early European trade Friday ahead of the key monthly jobs report, while sterling edged higher after the result of the U.K general election.

At 03:55 ET (07:55 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.4% lower at 104.635, near its lowest point since mid-June.

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Gold prices steady at 10-day high as rate cut bets grow

Gold prices steadied at a 10-day high in Asian trade on Thursday after growing bets on interest rate cuts by the Federal Reserve pulled down the dollar and Treasury yields.

But gold’s advance was stalled by hawkish signals from the minutes of the Fed’s June meeting, while anticipation of key nonfarm payrolls data kept traders cautious.

Spot gold rose 0.1% to $2,359.56 an ounce, while gold futures expiring in August fell 0.1% to $2,367.15 an ounce by 00:27 ET (04:27 GMT). 

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Dollar edges lower in holiday trade; sterling gains as polling starts

The U.S. dollar slipped lower in early European trade Thursday as weak economic data raised expectations of interest rate cuts by the Federal Reserve, while sterling edged higher as the U.K. went to the polls.

At 04:20 ET (08:20 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.2% lower at 104.900, extending steep overnight declines.

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Oil prices ease from two-month highs to settle lower despite summer demand hopes

Oil prices settled lower Tuesday, after easing from two-month highs, despite expectation for increased demand during the Independence Day holiday and potential supply risks from geopolitics and weather-related disruptions. 

At 14:30 ET (18:30 GMT), Brent oil futures fell 0.4% to $86.24 a barrel, while West Texas Intermediate crude futures fell 0.7% to $82.81 a barrel.

Both benchmarks gained around 2% in the previous session, climbing to their highest levels since the end of April.

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Gold prices tick lower with Powell, payrolls in focus; copper weak

Gold prices fell slightly in Asian trade on Tuesday, remaining in a tight trading range as anticipation of a slew of cues on U.S. interest rates kept traders largely averse towards metal markets. 

The yellow metal was nursing a fall through June, as fears of high U.S. interest rates pushed up the dollar and Treasury yields. Gold also remained stuck around $2,300 an ounce.

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