The White House update to its tariff schedule is a "welcome development" after challenges caused by a recent U.S. Customs ruling on gold bars, the London Bullion Market Association said on Wednesday. The executive order, issued on September 5 by President Donald Trump, updates the tariff schedule for certain goods, including key gold products. The White House referred to them as reciprocal tariffs. Under the update, gold bars imported from "aligned partner" countries under certain codes of the Harmonized Tariff Schedule of the United States - including 7108.11.00, 7108.12.50, 7108.13.10,...
Gold (XAU/USD) held around $3,326 with moderate intraday gains. Selling pressure in global markets provided slight support as a safe haven, but hopes for peace between Russia and Ukraine curbed hedging interest, limiting gold's rally. The market preferred to await clues about the Fed's policy direction from the release of the FOMC minutes. Fading expectations for a Fed rate cut helped the US dollar remain strong and made yieldless gold less attractive. Stable bond yields also limited price gains. In the very short term, gold's direction will be determined by the reaction of the US dollar...
World oil prices fell on Tuesday (August 19th) amid speculation that a meeting between Russia, Ukraine, and the US could potentially pave the way for the lifting of sanctions on Russian oil, thereby increasing market supply. Brent futures weakened 0.75% to $65.95 per barrel. This correction occurred after oil previously closed up around 1%. The market was monitoring the latest diplomatic moves, with US President Donald Trump meeting with Ukrainian President Volodymyr Zelenskiy along with European allies and holding direct dialogue with Russian President Vladimir Putin. Trump even stated...
Gold prices strengthened slightly on Tuesday (August 19), driven by a weaker dollar amid expectations of a US interest rate cut. Investors are now awaiting Fed Chairman Jerome Powell's remarks at the Jackson Hole symposium on August 21–23, which is expected to provide clarity on the direction of monetary policy. According to CME FedWatch, the market is pricing in an 83% chance of a 25 basis point rate cut at the Fed's September meeting. However, UBS analyst Giovanni Staunovo believes it is too early for the Fed to commit to its next move, given the number of data releases before the...
Silver prices are currently trading around $38,030 per ounce, relatively stable after experiencing selling pressure. Fundamentally, this precious metal remains supported by expectations of a Fed interest rate cut, which has boosted interest in non-yielding assets. However, market optimism regarding the possibility of a Russia-Ukraine peace deal is curbing demand for safe havens. Furthermore, the strengthening US dollar is a limiting factor for the silver price rally. Technically, silver is still moving in a consolidation phase after rejecting further gains. Nearest support is seen around...
Gold prices were little changed on Tuesday as investors awaited this week's Federal Reserve annual conference for clues on a possible interest rate cut and weighed Washington's efforts to end the war in Ukraine. Spot gold was steady at $3,331.49 per ounce at 02:01 GMT. US gold futures for December delivery fell 0.1% to $3,375.40. Fed Chairman Jerome Powell's remarks at the central bank's August 21-23 symposium in Wyoming could provide clarity on the economic outlook and expectations for policy easing. "Gold is still in a consolidation phase and really waiting for a new catalyst to break...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
Poland shot down a drone in its airspace on Wednesday with the support of military aircraft from its NATO allies. This is the first time a member of the Western military alliance is known to have...