Silver (XAG/USD) prices posted modest gains near $35.95 during the Asian session on Wednesday (6/25). A weaker US Dollar (USD) provided some support to the USD-denominated commodity prices. Traders are gearing up for Federal Reserve (Fed) Chairman Jerome Powell's testimony later on Wednesday. US consumer confidence fell again in June amid uncertainty over US President Donald Trump's trade policies. Data released by the Conference Board on Tuesday showed that the US Consumer Confidence Index fell to 93 in June, below market consensus. The downbeat US economic data dragged the US Dollar lower...
Gold rose on Wednesday as the U.S. dollar and Treasury yields fell, while market participants monitored a fragile ceasefire between Israel and Iran. Spot gold was up 0.2% at $3,328.89 an ounce, as of 0250 GMT, after hitting a more than two-week low on Tuesday. U.S. gold futures rose 0.3% to $3,343.00. The dollar index (.DXY), opens new tab , hovered near a one-week low, making bullion more attractive to holders of other currencies. The benchmark 10-year Treasury yield remained near a more than one-month low. "Technical selling in the U.S. dollar and weaker U.S. Treasury yields have...
The USD/CHF pair hit a fresh more than a decade low near 0.8034 during the Asian trading hours on Wednesday (6/25). The Swiss Franc pair faced sharp selling pressure as the US Dollar (USD) continued to underperform against its peers following the ceasefire between Israel and Iran. The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, appears vulnerable near weekly lows around 98.00. The ceasefire agreement between Israel and Iran has reduced the demand for the US Dollar as a safe-haven asset. On Monday, the US Dollar strengthened sharply after the...