Gold prices soared on Monday, after six days of losses, as the U.S. dollar's surge stalled and heightened uncertainty over the Russia-Ukraine conflict rekindled safe-haven demand. Spot gold jumped 1.8% to $2,608.19 per ounce by 01:44 p.m. ET (1844 GMT), moving away from a two-month low on Thursday. U.S. gold futures settled 1.7% up at $2,614.60. Gold, which is considered a safe investment during economic and geopolitical turmoil, posted its steepest weekly drop in more than three years last week as President-elect Trump's proposed tariffs are seen as potential drivers of inflation, which...
Oil steadied after the biggest gain in more than five weeks as the dollar weakened and a risk-on tone swept across wider markets. West Texas Intermediate traded near $69 a barrel after surging 3.2% on Monday, while Brent closed above $73. A gauge of the dollar fell for a second session, making commodities priced in the currency less expensive for most buyers, and Wall Street stocks climbed. Asian shares are poised to track higher. Oil is still lower for the year as concerns around Chinese demand and plentiful global supply weigh on the outlook. The prompt spread...
Gold steadied, after jumping the most since August on Monday, with the market focused on the dollar and the Federal Reserve's interest-rate path. Bullion traded near $2,615 an ounce after surging 1.9% in the previous session, with the gains driven by a falling dollar and Treasury yields. The precious metal has been hit by the greenback rallying to a two-year high following Donald Trump's election win, as well as signs the Fed may have to slow the pace of rate cuts due to the inflationary policies the president-elect is pledging. However, Goldman Sachs reiterated its forecast for gold...