The Japanese yen strengthened past 152.5 per dollar on Wednesday, reaching its highest level in over two weeks, fueled by speculation that the Bank of Japan may raise interest rates in December. BOJ Governor Kazuo Ueda recently hinted at the possibility of a rate hike next month, citing concerns over the yen's weakness. Investors are now awaiting Tokyo's inflation data later this week, which could offer further clues on the outlook for monetary policy. The yen also received support from increased safe-haven demand following US President-elect Donald Trump's threat of tariffs on China,...
Gold (XAU/USD) prices attracted some follow-through buying during the Asian session on Wednesday and seemed to firm on the overnight uptick from the $2,600 range, or a one-week low. Ongoing geopolitical risks stemming from the prolonged Russia-Ukraine war, along with concerns over US President-elect Donald Trump's tariff plans, drove some haven flows towards the precious metal for the second straight day. Meanwhile, the US Dollar (USD) consolidated near the lower end of its weekly range despite upbeat US macro data on Tuesday which turned out to be another factor supporting Gold prices....
Gold price (XAU/USD) sticks to modest intraday gains near a two-day high, above the $2,650 level, through the first half of the European session as geopolitical risks and US President-elect Donald Trump's tariff plans drive haven flows for the second straight day. Furthermore, sliding US Treasury bond yields keep the US Dollar (USD) depressed near the weekly trough and assist the commodity in building on the overnight bounce from the $2,600 neighborhood, or a one-week low. Apart from this, a weaker tone around the European equity markets turns out to be another factor that benefits the...