Gold price enters a bullish consolidation phase after hitting a fresh record high during the Asian session on Friday and currently trades just below the $2,800 mark. Concerns over the potential economic fallout from US President Donald Trump's tariff plans, along with geopolitical tensions, continue to boost demand for the safe-haven bullion. Adding to this, expectations that Trump's protectionist policies would boost inflation further benefit the precious metal's hedge against rising price pressures. That said, the Federal Reserve's (Fed) first pause since the start of its easing cycle in...
Silver price (XAG/USD) halts its three-day winning streak, trading around $31.30 per troy ounce during Asian hours on Friday. A daily chart analysis suggests a persistent bullish bias for the precious metal, as its price continues to rise within an ascending channel pattern. The XAG/USD pair trades above both the nine-day and 14-day Exponential Moving Averages (EMAs), suggesting that short-term momentum is strong. Additionally, the 14-day Relative Strength Index (RSI) is positioned above the 50 level, reinforcing the active bullish sentiment. Source: FXStreet
The Japanese Yen (JPY) attracts buyers for the third straight day on Friday and remains close to over a one-month high touched against its American counterpart earlier this week. Data released earlier today showed that consumer prices in Tokyo – Japan's capital – rose in January. Moreover, Japanese Industrial Production registered unexpected growth in December and Retail Sales surged past consensus estimates. This keeps alive expectations for further interest rate hikes by the Bank of Japan (BoJ), which, in turn, continues to underpin the JPY. Source: FXStreet
The Australian Dollar (AUD) extends its losing streak against the US Dollar (USD) for the fifth consecutive day on Friday. The AUD/USD pair depreciates due to tariff threats from US President Donald Trump against China. Investors await more clarity from Trump's tariff policies. ANZ, CBA, Westpac, and now National Australia Bank (NAB) all anticipate a 25 basis point (bps) rate cut from the Reserve Bank of Australia (RBA) in February. Previously, the NAB had forecasted a rate cut in May but has now moved its projection forward to the February RBA meeting. Easing inflationary pressures...
Gold edges higher in the early Asian trade. Prices rose recently on a weaker dollar and concerns about President Trump's potential tariffs, say ANZ Research analysts in a note. Traders are monitoring the potential economic implications of widespread tariffs under the Trump administration, which could boost demand for safe-haven assets, says Harbourfront Wealth - Sonora Wealth Group's Miro Svoboda in a note. Spot gold is 0.2% higher at $2,798.47/oz. Source: Dow Jones Newswires
