Spot gold prices ended last week at a record high and are set to continue to rise in Asian trading, said Chris Weston, head of research at Pepperstone. He said gold prices could test their all-time high of $3,500.10 an ounce. Traders have been reducing profitable long positions in silver, platinum and palladium, potentially increasing cash in their portfolios or even shifting exposure to gold, he added. (alg) Source: Dow Jones Newswires
EUR/USD extended its decline for the second straight session, trading around 1.1540 during Asian hours on Monday (6/16). The currency pair depreciated as the US Dollar (USD) strengthened amid increased demand for safe havens as geopolitical tensions escalate in the Middle East. Israel launched an attack on Iran's nuclear facilities and missile plants on Friday. Iran responded with an attack on Israel on Sunday night, with explosions seen in the coastal city of Haifa. Israel continues to attack military targets in Iran, despite international calls for diplomacy and de-escalation, according...
The dollar rose against major currencies on Monday, boosted by safe-haven buying from investors worried that the Israel-Iran fighting could escalate into a wider regional conflict as they prepared for a week packed with central bank meetings. With Iran and Israel showing no sign of backing down from their attacks, the prospect that Tehran might try to close the Strait of Hormuz - the world's most important gateway for oil shipments - raises the broader economic risk of disruption in the energy-rich Middle East. Scheduled weekend talks between Iran and the United States over Tehran's...