Gold prices fell below $3,260 per ounce on Thursday, marking a fourth straight day of decline, as reduced tariff risks eroded demand for safe-haven assets. The drop followed a ruling from the US Court of International Trade, which found that President Donald Trump had exceeded his authority in imposing reciprocal tariffs. The court ordered the measures to be vacated and permanently blocked a significant setback for the president's economic agenda. The administration is expected to appeal the decision. Meanwhile, minutes from the Federal Reserve's May meeting showed that policymakers are...
Oil prices rose in Asian trade on Thursday, encouraged by improving market sentiment after a U.S. court ruled that President Donald Trump could not proceed with his plans for reciprocal trade tariffs. Crude also rose after the OPEC+ ducked market expectations for an increase in the group's output quota, while signs of a sharp drawdown in U.S. inventories spurred bets on tighter supplies. Focus is now on an upcoming OPEC+ decision on July production, although the group is now expected to leave output unchanged. Oil was sitting on some gains this week after a devastating Russian attack on...
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is extending its gains for the third successive day and trading more than 0.50% higher around 100.30 during the Asian hours on Thursday. Traders are likely awaiting the preliminary US Q1 Gross Domestic Product (GDP) Annualized, Personal Consumption Expenditures Prices QoQ, and Initial Jobless Claims, scheduled to be released later in the North American session. The Greenback receives support after a US federal court on Wednesday blocked President Donald Trump from imposing "Liberation...