Floods on Indonesia's holiday island of Bali have killed at least nine this week and affected 600 people, blocking off major roads in the capital and disrupting a busy travel destination, officials said on Wednesday. Continuous heavy rains between Tuesday evening and Wednesday caused the floods and killed five people in Bali's capital Denpasar, Abdul Muhari, the spokesperson of the country's disaster mitigation agency said in a statement. Four more people were killed in the regions of Jembrana, Gianyar, and Badung, Abdul added. Two people were still missing. Out of 600 people affected,...
Silver (XAG/USD) prices moved lower to around $31.20, ending a two-day winning streak during the early European session on Thursday(12/5). The Federal Reserve's (Fed) cautious stance on interest rate cuts weighed on the white metal. Federal Reserve Chairman Jerome Powell said Wednesday that the strength of the U.S. economy means the U.S. central bank can afford to be "a little more cautious" about decisions about interest rate moves. Joseph Brusuelas, chief economist at RSM US, noted that he does not expect another rate cut after the December meeting until March 2025 at the earliest.
Gold prices are currently stable in the Asian session on Thursday, as political turmoil in South Korea spurs safe-haven demand, although anticipation of further cues on US interest rates keeps traders on the sidelines.
Silver prices maintained their recent gains to around $30 an ounce on Wednesday, holding at a more than one-week high as markets anticipate that the US Federal Reserve will cut interest rates again at its December meeting. Currently, markets are pricing in a 75% probability of a 25 basis point rate cut this month. Investors are now focused on the upcoming US jobs data and remarks from Fed Chair Jerome Powell later this week for further clarity on the Fed's monetary policy path.
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)...
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...