Gold (XAU/USD) prices struggled to gain any meaningful traction at the start of a new week and oscillated in a narrow range just below its all-time highs above the psychological $3,000 level touched on Friday. Meanwhile, the near-term bias seems tilted towards the bulls amid concerns over escalating trade tensions and its impact on the global economy. This, along with geopolitical risks, should continue to act as a tailwind for the safe-haven bullion. Meanwhile, traders are now pricing in the possibility of the Federal Reserve (Fed) cutting interest rates multiple times this year amid a...
Oil prices were trading higher on Monday after the United States vowed to keep up attacks on Yemen's Houthis until the Iran-aligned group ends its attacks on shipping. Brent crude futures rose 56 cents, or 0.8%, to $71.14 a barrel by 0800 GMT, while U.S. West Texas Intermediate crude futures rose 56 cents, also 0.8%, to $67.74 a barrel. The U.S. airstrikes, which the Houthi-led health ministry said killed at least 53 people, were the largest U.S. military operation in the Middle East since President Donald Trump took office in January. A U.S. official told Reuters the campaign could last...
The euro is nearing $1.09, near its November high, as traders await further updates on Germany's fiscal stimulus. A key spending plan vote is set for this week, with proposed reforms, exempting defense spending from debt limits and setting out a €500 billion infrastructure investment plan, expected to be passed in Germany's lower and upper houses. This follows a deal secured by the election-winning conservative CDU/CSU bloc with the SPD and the Greens. Meanwhile, investors are closely monitoring developments in the ongoing trade war and the situation in Ukraine. On the monetary policy...