Gold on Wednesday extended its decline from an all-time high, dropping more than 3%, as risk appetite increased after President Donald Trump said he had no plans to fire the U.S. Fed chief and also signaled progress with China on tariffs. Spot gold fell 3% to $3,281.6 an ounce by 1:43 p.m. ET (1743 GMT), after hitting a record high of $3,500.05 in the previous session. U.S. gold futures fell 3.7% to $3,294.10. "The market is starting to move past the tariffs. You're going to see a broad rotation out of some of the safe havens back into some of the names like Apple, Tesla," said Phillip...
Oil prices fell 2% on Wednesday as sources said OPEC+ would consider accelerating its oil output increase in June, but losses were contained following a report that U.S. President Donald Trump may cut tariffs on Chinese imports. Brent crude futures settled down $1.32, or 1.96%, at $66.12 a barrel, while U.S. West Texas Intermediate crude ended $1.40, or 2.2%, lower at $62.27. Global benchmark Brent hit a session high of $68.65, its highest since April 4, before the OPEC+ news. Some OPEC+ members are set to suggest the group accelerate its oil output increase for a second straight month in...
The US Dollar Index (DXY) failed to maintain its early strength on Wednesday (4/23) and now hovers near the 99.50 region, reflecting continued uncertainty over US trade policy and weakening business momentum. The greenback's intraday surge towards the 100.00 mark during Asian trade faded quickly after comments from Treasury Secretary Scott Bessent and fresh scrutiny of President Donald Trump's policy stance. Additionally, the Federal Reserve's Beige Book pointed to worsening economic conditions. On the economic front, the S&P Global Composite Flash PMI for April fell to 51.2 from 53.5,...