Renewed tensions between the United States and Russia have resurfaced following an incident involving an oil tanker, sparking market concerns about potential disruptions to global energy supplies. Washington's move, associated with tightening oversight and enforcement of sanctions on Russian oil shipments, is viewed by Moscow as provocative and could worsen relations between the two countries. Russia views these actions as an attempt by the United States to suppress Russian energy exports and strengthen its dominance in the global oil market. Meanwhile, Washington argues that these measures...
Gold bullion prices pared earlier gains as "JOLTS data confirmed our expectations for a rebound in the jobs market, alleviating concerns of a significant slowdown in the labor market ahead of Friday's nonfarm payrolls report," said Daniel Ghali, commodity strategist at TD Securities. A strong jobs report could prompt the Fed to take a cautious stance on cutting interest rates. Investors' focus shifts to the ADP jobs report and Fed Chair Jerome Powell's speech on Wednesday, ahead of Friday's payrolls report.
Gold (XAU/USD) held steady around $2,640 on Tuesday after the release of US labor market data reinforced the view that the US economy is in a good position. The US Dollar (USD) strengthened after the release, which put pressure on Gold, which is mostly priced and traded in USD. US JOLTS Job Openings rose to 7.744 million in October, beating the consensus estimate of 7.480 million and a downwardly revised 7.372 million in September, according to data from the US Bureau of Labor Statistics (BLS). The data caused Gold to pare earlier gains made after comments from a Federal Reserve (Fed)...
Silver prices rose on Tuesday, supported by optimism over a potential U.S. Federal Reserve rate cut in December and a weakening dollar. The metal traded above a key pivot at $31, which sparked buying interest and short covering. However, the rally faces resistance levels that could limit gains in the near term. The market is increasingly pricing in a 73% probability of a 25-basis-point rate cut at the Federal Reserve's December meeting, up from 66% on Monday. This sentiment followed comments from Fed Governor Christopher Waller, who expressed support for easing monetary policy due to...
Gold prices held steady in the $2647 area entering the European trading session today.Traders currently appear reluctant and prefer to wait for further cues on the Federal Reserve's (Fed) interest rate cut signal before positioning themselves for the next move in directional movement. Therefore, the focus remains on this week's important US macro releases, including the closely watched Nonfarm Payrolls (NFP) report on Friday. Source: NewsMaker 23
Silver prices (XAG/USD) fell on Monday (2/12). Silver is trading at around $30 per troy ounce, down 1.1% today. This was driven by the US dollar's rebound due to optimism about the US economic outlook. Meanwhile, investors are now focused on a key political meeting in China this month for potential policy announcements, which could help assess the outlook for the world's top metal consuming nation. Silver price at the time of this news release -1.1% which is at the level of $ 30,277. Source: Newsmaker
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
European stock indices closed marginally lower on Wednesday as equities took a breather from their recent strong momentum, while investors continued to assess the outlook for the ECB's policy this...
The upcoming Supreme Court ruling on the legality of President Donald Trump's massive tariffs, which rocked markets in April, is one of the next major tests for US stocks and bonds.
Equity markets...