Gold prices traded with a positive tone on Tuesday, following Monday's drop of over 2.70%, exchanged hands at around $3,250, up by 0.42%. A softer-than-expected US inflation report and the trade truce between China and the US may keep Gold prices capped beneath the $3,300 figure. US inflation data for April was slightly softer than expected by market participants on a monthly basis. Annual basis figures were aligned with projections, indicating that the tariff effect has not been reflected so far in the "hard data." Meanwhile, analysts at a major US commercial bank revealed that tariffs...
Crude oil futures climbed more than $1.60 a barrel on Tuesday, lifted by a temporary cut in U.S.-China tariffs and a better-than-expected inflation report. Brent crude futures settled at $66.63 a barrel, up $1.67, or 2.57%. U.S. West Texas Intermediate (WTI) crude finished at $63.67, up $1.72 or 2.78%. The two benchmarks rose by about 4% or more in the previous session after the U.S. and China agreed on sharp reductions to their import tariffs for at least 90 days, which also boosted stocks on Wall Street and the dollar. "We didn't participate as much as other markets did yesterday in the...
The US Dollar Index (DXY), which measures the value of the US Dollar against a basket of currencies, lost ground on Tuesday, slipping to 101.50 as inflation data for April came in softer than expected. While CPI rose 0.2% monthly and 2.3% annually, missing forecasts, core inflation held steady at 2.8%. Traders remain cautious amid vague trade commitments with China and the UK, and there are new uncertainties after President Trump pushed ambitious investment and tax plans without detailing how they would impact the economy. Despite tariff de-escalation headlines, the Fitch-rated effective...