Gold (XAU/USD) prices struggled to capitalize on the previous day's up-move and attracted some intraday sellers during the Asian session on Wednesday (3/26). The US Dollar (USD) regained some positive traction and moved back closer to near three-week highs touched on Tuesday. This, along with the general positive sentiment around equity markets, acted as a headwind for the safe-haven precious metal. However, uncertainty over US President Donald Trump's so-called reciprocal tariff plan for next week helped Gold prices hold above the psychological $3,000 mark. Additionally, bets that the...
The Australian Dollar (AUD) was supported as copper futures surged to a new record high on the Comex exchange on Tuesday (3/26), benefiting from Australia's position as one of the leading copper exporters. Bloomberg reported that Trump could speed up the timetable for imposing tariffs on US copper imports. While the Commerce Department originally had 270 days from February 2025 to investigate and report on potential tariffs, recent developments suggest that the tariffs could be implemented within weeks, much sooner than the original deadline. The AUD weakened against the US Dollar (USD)...
Oil prices edged higher on Wednesday on supply concerns with the U.S. stepping up efforts to limit Venezuelan and Iranian oil exports, while a bigger-than-expected drop in U.S. crude inventories also lent support. Brent crude futures gained 15 cents, or 0.21%, to $73.22 a barrel by 0723 GMT, while U.S. West Texas Intermediate crude futures rose 16 cents, or 0.23%, to $69.16 a barrel. Both contracts hit their highest in three weeks in the previous session. "Crude oil prices maintain their bullish bias after Trump's sanctions on Venezuelan oil, raising supply-side concerns," Priyanka...