United States (US) President Donald Trump and Russian President Vladimir Putin concluded an initial face-to-face meeting in Alaska late Friday, with both parties delivering mutually inconclusive statements. Trump and Putin both delivered vague promises of "progress" on multiple fronts, but initial details remain light. Now, President Trump will be pivoting to hand-delivering Russia's peace proposals on Ukraine to both the Ukrainian and European Union government bodies. Key Putin highlightsMeeting has been long overdue.Ukraine situation was one of key issues.Ukraine war is a tragedy, great...
Oil prices fell slightly in early US trading on Thursday, easing after recovering from recent lows, as sentiment remained strained amid concerns over a US recession and high production. Crude prices rebounded from more than three-year lows this week, boosted in part by a weak reading on US inflation, along with a weaker dollar. Data showing a much larger than expected drawdown in US gasoline inventories also helped ease some concerns about slowing demand. Oil is still on track to fall sharply so far in 2025, however, as traders worry about weakening demand in major economies amid a US-led...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of six major currencies, is back below 104.00 after briefly rising on lower PPI figures. Markets await comments from US diplomats visiting Russia to discuss a ceasefire deal, which has been greenlit by Ukraine. Meanwhile, US President Donald Trump has threatened Europe with 200% tariffs on all wine and champagne coming from the region. On the economic front, a slew of data is due out this Thursday at 12:30 GMT. In addition to the weekly US Initial Jobless Claims, the US Producer Price Index (PPI)...
Gold traded higher on Thursday (3/13) even as the dollar strengthened after another report showed U.S. inflation eased last month. Gold for April delivery was last seen up $6.20 at $2,953.00 an ounce. The gains came as the U.S. Bureau of Labor Statistics reported the February Producer Price Index (PPI), a measure of wholesale prices, rose at an annualized pace of 3.2% in February, down from 3.7% a month earlier and below the FactSet consensus estimate for a reading of 3.3%. The core PPI, which excludes volatile food and energy prices, fell 0.1% from January, down from a 0.5% gain...
Silver (XAG/USD) price is trading near a monthly high of $33.40 during North American trading hours on Thursday (3/13). The white metal is gaining as easing US consumer and producer inflation pressures pave the way for the Federal Reserve (Fed) to cut interest rates at its June policy meeting. The US Producer Price Index (PPI) report showed that headline and core producer inflation slowed at a faster-than-expected pace to 3.2% and 3.4%, respectively, in the 12 months to February. The headline PPI remained flat month-on-month while the core figure declined by 0.1%. On Wednesday, the US...
Gold prices traded near their highest levels on Thursday, boosted by safe-haven demand amid tariff concerns and a U.S. inflation report that reinforced expectations of future interest rate cuts. Spot gold was up 0.5% at $2,946.68 an ounce, as of 1131 GMT. Bullion hit a record high of $2,956.15 on Feb. 24 amid uncertainty over U.S. tariffs. U.S. gold futures were up 0.3% at $2,956. "Gold prices continue to be supported by the prospect of a tariff-driven economic slowdown, which could potentially accelerate expectations of a U.S. Fed rate cut," said Ole Hansen, head of commodity strategy at...