Oil posted a third steep decline — with the US benchmark falling below $60 a barrel — as another plunge across financial markets was compounded by Saudi Arabia making some of the biggest cuts in years to its flagship oil price. The plunge in just a few days is threatening the coffers of oil-producing nations that need far higher prices to meet their budgets. At the same time, it will take some of the sting out of inflationary pressures from Donald Trump's tariffs on trade partners. Oil major BP Plc's shares have declined as much as 20% in three trading sessions while...
Gold prices fell on Monday as investors turned to the dollar as a safe haven after broad U.S. tariffs raised fears of a global recession. However, analysts remained optimistic about bullion given the challenging economic environment. Spot gold fell 0.2% to $3,030.69 an ounce by 9:01 a.m. ET (1301 GMT), after hitting a more than three-week low of $2,971.09 earlier in the session. U.S. gold futures rose 0.5% to $3,048.90. "Gold prices fell as investors turned to cash and other safe havens such as the Swiss franc and Japanese yen amid market turmoil, which creates the risk of a deeper...
Gold prices fell more than 2% on Monday, with investors turning to the dollar as a safe haven after broad U.S. tariffs raised fears of a global recession. However, analysts remained bullish on bullion given the challenging economic environment. Spot gold prices fell 2.4% to $2,963.19 an ounce by 1:36 p.m. ET (1736 GMT), after hitting a near four-week low of $2,955.89 earlier in the session. U.S. gold futures settled 2% lower at $2,973.60. "Gold prices fell as investors turned to cash and other safe havens such as the Swiss franc and Japanese yen amid market turmoil, which creates the risk...