US stocks closed higher on Friday, with the S&P 500 up 0.8%, and the Nasdaq climbing nearly 1%, while the Dow gaining 206 points. Technology shares, led by Apple which surged 4.2% following its announcement of a $600 billion US investment plan helped lift the tech-heavy Nasdaq to new intraday highs. Investor optimism was also fueled by expectations of Federal Reserve rate cuts, with President Trump nominating Stephen Miran to the Fed Board, signaling possible shifts in monetary policy, despite concerns over new tariffs imposed by the Trump administration on imports from multiple...
Gold prices extended their gains on Tuesday, as uncertainty over U.S. President Donald Trump's tariff plans continued to dominate market sentiment, driving safe-haven demand amid fears of a potential global trade war. Spot gold was up 0.6% at $2,913.79 an ounce, as of 0714 GMT. U.S. gold futures gained 0.9% to $2,925.50. "We've seemingly got pretty significant central bank buying and that we've also got these potential shortages in Europe on the basis that there seems to be a rush to get gold in the U.S., to avoid possible tariffs," Capital.com's financial market analyst Kyle Rodda...
The USD/CHF pair extends its recovery to around 0.9030 during the early European session on Tuesday, bolstered by a firmer US Dollar (USD). Investors brace for the release of the NY Empire State Manufacturing Index for February, which will be published later on Tuesday. Also, the Federal Reserve's (Fed) Mary Daly is scheduled to speak later in the day. Last week's data showed U.S. consumer prices climbed at the highest pace in almost 18 months in January, highlighting the Fed's message that it was not in a hurry to continue reducing rates despite rising economic uncertainties. This, in...
Silver prices held steady around $32.4 per ounce on Tuesday, remaining in a sideways trading range for the past two weeks as global trade uncertainties continued to drive safe-haven demand for precious metals. US President Donald Trump recently announced plans to impose reciprocal tariffs on countries taxing US imports, raising worries over a wider trade war. Meanwhile, investors kept an eye on US-led efforts to resolve the war in Ukraine, which could reduce demand for safe-haven assets like silver. Last week, silver reached a three-month high as strong industrial demand, particularly from...
Brent crude oil prices advanced on Tuesday adding to gains in the previous session after a drone attack on an oil pipeline pumping station in Russia reduced flows from Kazakhstan, but gains were capped on the prospects of supply rising soon. Brent crude futures gained 15 cents, or 0.2%, to $75.37 per barrel at 0454 GMT. U.S. West Texas Intermediate crude futures were up 67 cents from Friday's close at $71.41 a barrel. There was no settlement for WTI on Monday due to the U.S. Presidents' Day holiday. "The overriding theme driving oil prices lately has been around supply expectations. With...
Gold price (XAU/USD) trades with a mild positive bias above the $2,900 mark during the Asian session on Tuesday, though it lacks bullish conviction and remains confined in a familiar range that has held over the past week or so. Investors remain worried that US President Donald Trump's threat of reciprocal tariffs would trigger a global trade war. This turns out to be a key factor that continues to underpin demand for the safe-haven bullion. Adding to this, expectations that the Federal Reserve (Fed) might cut interest rates further this year, bolstered by the unforeseen drop in US Retail...