Gold prices surged during the North American session after hitting a record high of $2,956 as the greenback weakened and US Treasury yields fell. At the time of writing, XAU/USD was trading at $2,949, up 0.49%. Uncertainty kept Bullion prices firm as investors weighed US President Donald Trump's proposed trade policies. Geopolitics continued to be in the second stage as the Ukraine-Russia conflict appeared closer to being resolved, while rising tensions in the Middle East fueled demand for Gold. Gold prices have been on the rise for the past eight weeks, driven by the most significant net...
Oil prices edged up on Monday as new U.S. sanctions on Iran and a commitment to compensate for excess production by Iraq added to concerns about a short-term supply squeeze, helping the market recover some of Friday's steep losses. Brent crude futures rose 45 cents, or 0.6%, to $74.88 a barrel by 1:39 p.m. EST (1839 GMT), after closing at their lowest since Feb. 6 on Friday. U.S. West Texas Intermediate crude futures rose 43 cents, or 0.6%, to $70.83, recovering from their lowest settlement so far this year in the previous session. The U.S. Treasury Department imposed a new round of...
GBP/USD was volatile on Monday (24/2), surging to a fresh 10-week high before slumping back to the day's opening bid near 1.2630. Cable failed to reclaim the 1.270 handle, and price action has fallen back below the 200-day Exponential Moving Average (EMA) near 1.2660. A resurgence in US inflation figures late last week sparked a fresh round of risk aversion. Investors will be focused on the upcoming US Personal Consumption Expenditure (PCE) inflation data due later this week. Traders are hoping that the early-year uptick in key inflation data from the US will recede quickly and not turn...