Gold edged higher on Monday, supported by a weaker U.S. dollar, as investors awaited U.S. economic data due later in the week for clues on the Federal Reserve's policy path. Spot gold rose 0.6% to $3,293.55 an ounce by 2 p.m. EDT (1800 GMT) after hitting its lowest since May 29 earlier in the session. The metal rose for a second straight quarter, gaining 5.5%. U.S. gold futures settled 0.6% higher at $3,307.70. "The weaker dollar today is providing a little bit of support. However, we are still in a well-established range that has dominated since mid-May," said Peter Grant, vice president...
Oil prices edged lower on Monday as investors weighed easing Middle East risks and the possibility of an OPEC+ output increase in August. Both Brent and U.S. crude benchmarks posted their biggest weekly declines since March 2023 last week but rose for a second straight month, rising about 6% and 7%, respectively. Brent futures settled down 16 cents, or 0.2%, at $67.61 a barrel and expired on Monday. The more active September contract expired at $66.74. U.S. West Texas Intermediate crude settled down 41 cents, or 0.6%, at $65.11 a barrel. The 12-day war that began with Israel targeting...
EUR/USD rose to a fresh yearly high of 1.1780 on Monday (01/07) as the Greenback continued to be hit by the prospect of a fiscal budget agreement in the United States (US) and expectations that the Trump administration continues to make progress on a trade deal with major trading partners. At the time of writing, the currency pair was trading at 1.1776, up 0.51%. The sentiment remains positive as depicted by US equity indices posting a solid second quarter in 2025, trading at an all-time high. Therefore, the US Dollar (USD) is nearing a multi-year low amid expectations that the fiscal...