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 prices rose in Asian trading on Thursday as soft inflation print in the U.S. supported interest rate cut bets, while President Donald Trump's fresh tariff threats kept bullion's safe-haven appeal intact. Spot Gold rose 0.4% to $2,945.18 per ounce, while Gold Futures expiring in April gained 0.2% to $2,953.62 an ounce by 00:56 ET (04:56 GMT). Gold rises as cooling inflation data backs rate-cut bets The U.S. Consumer Price Index (CPI) increased by 0.2% in February, leading to an annual rise of 2.8%, slightly below the anticipated 2.9% and down from January's 3.0% gain. This moderation...
Oil prices slipped on Thursday after a surge in the previous session on a larger-than-expected draw in U.S. gasoline stocks, as markets weighed macroeconomic concerns against firm near-term demand. Brent futures fell 5 cents to $70.9 a barrel by 0426 GMT, while U.S. West Texas Intermediate crude futures shed 10 cents to $67.58 a barrel. Both benchmarks rallied about 2% on Wednesday as U.S. government data showed tighter-than-expected oil and fuel inventories. U.S. gasoline inventories fell by 5.7 million barrels, more than the 1.9 million-barrel draw expected by analysts, while distillate...
Silver price (XAG/USD) continues its upward momentum for the third consecutive session, hovering around $33.30 per troy ounce during Asian trading hours on Thursday. The precious metal benefits from growing safe-haven demand amid escalating trade tensions and mounting concerns over a potential United States (US) recession. Trade tensions intensified after US President Donald Trump imposed higher tariffs on steel and aluminum imports, heightening economic uncertainty and boosting Silver's appeal as a safe-haven asset. Trump also described the economy as being in a "transition period,"...
The US dollar index remained stable around 103.5 on Thursday after gaining ground in the previous session, as investors weighed the impact of an escalating global trade war on the economy and consumers. In the latest developments, President Trump vowed to impose additional tariffs, following retaliatory measures from the EU and Canada in response to his steel and aluminum duties. Trump also reiterated warnings of reciprocal tariffs set to take effect next month, fueling further uncertainty in global markets. Meanwhile, US consumer inflation data released on Wednesday came in softer than...
Gold rose to around $2,940 per ounce on Thursday, approaching record levels, as escalating global trade tensions continued to fuel safe-haven demand. On Wednesday, President Donald Trump warned of additional tariffs on EU goods after the EU and Canada retaliated against existing US trade barriers. Commerce Secretary Howard Lutnick also said that Trump would impose trade protections on copper as well. Meanwhile, both headline and core US inflation came in below expectations, reassuring investors about disinflation progress and giving the Federal Reserve more flexibility for a less...
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...