Gold rose near $2,750 an ounce on Wednesday (22/1), extending gains of more than 1% from the previous session to hit its highest since early November. The precious metal was supported by a relatively weaker U.S. dollar and increased demand for safe-haven assets, as trade war concerns persisted following President Trump's announcement of potential tariffs.
Trump vowed to impose tariffs on the European Union and reiterated his consideration of 10% tariffs on China, following earlier remarks about the prospect of imposing hefty levies on Canada and Mexico. Meanwhile, traders continued to assess inflation risks, as Trump's policies are widely viewed as inflationary, potentially prompting the Federal Reserve to keep interest rates high for an extended period to control price pressures. This could reduce the appeal of gold, as higher interest rates increase the opportunity cost of holding non-yielding assets. (AL)
Source: Trading Economics
Gold (XAU/USD) kicks off the week on a cautious note, trading flat to slightly higher on Monday, as the US Dollar (USD) stabilizes but remains under pressure in the aftermath of Friday's disappointing...
Gold eased on Monday due to slightly firmer U.S. Treasury yields and profit-taking following last week's sharp rally driven by weak U.S. jobs data. Spot gold lost 0.2% to $3,356.91 per ounce, as of 1...
Gold price (XAU/USD) pulls back from the $3,369 region, or over a one-week top touched during the Asian session on Monday, and for now, seems to have stalled last week's goodish recovery move from a o...
Gold prices weakened slightly on Monday (August 4th) as investors took profits after a sharp rise in the previous session on weaker-than-expected US employment data, which raised expectations of a US ...
Gold edged lower early in the Asian session on a technical correction after gold futures closed nearly 1.7% higher last Friday. However, gold's decline may have been limited by rising expectations of ...
Oil prices fell to their lowest in a week on Monday after OPEC+ agreed to another large output increase in September, adding to oversupply concerns after U.S. data showed lacklustre fuel demand in the top consuming nation. Brent crude futures fell...
India defended its oil imports from Russia on Monday, calling U.S. and European Union criticism "unjustified and unreasonable" following U.S. President Donald Trump's decision to raise tariffs on the country. "Like any major economy, India will...
European shares closed higher on Monday, rebounding from six-week lows as a surge in banking stocks offset a decline in Swiss shares following a hefty 39% U.S. tariff on Swiss goods. The pan-European STOXX 600 index, rose 0.9%, with most major...
US Stocks plunged on Friday, as investors reacted to a weak July jobs report and a fresh round of tariffs announced by President Trump. The S&P...
European stock markets opened positively this week, with the Euro Stoxx 50 up 0.6% and the broader Stoxx 600 up 0.2%. This rebound follows a sharp...
White House economic advisers on Sunday defended President Donald Trump's firing of the head of the Bureau of Labor Statistics, dismissing criticism...
The European Union will suspend its two packages of countermeasures to U.S. tariffs for six months following a deal with U.S. President Donald...