Gold prices held steady on Monday (July 28), with gains capped by improved risk sentiment following the trade deal between the United States and the European Union, while investors awaited the US Federal Reserve's policy meeting later this week. Spot gold was unchanged at $3,335.87 per ounce at 10:35 GMT, after hitting its lowest level since July 17 earlier. US gold futures were unchanged at $3,335.30 per ounce. Washington reached a trade framework agreement with the European Union in Scotland on Sunday, imposing 15% import tariffs on most EU goods – half the threatened tariffs – and...
Oil prices rose after President Donald Trump said he would shorten the deadline for Russia to agree to a ceasefire in Ukraine, adding to earlier gains from the U.S.-European Union trade deal. Brent oil prices approached $70 per barrel after closing 1.1% lower on Friday. Trump said the European Union had agreed to buy $750 billion worth of American energy products, although he and European Commission President Ursula von der Leyen appeared to disagree on some key details of the agreement. Later on Monday, Trump also said he would shorten the 50-day deadline he gave Vladimir Putin to reach a...
The US dollar (USD) started the week on a positive note, continuing its modest recovery since Thursday, as easing global trade tensions boosted investor sentiment. Interestingly, the greenback, which typically underperforms in a risk-on environment, found support despite improved risk appetite, bolstered by expectations that the Federal Reserve (Fed) will keep interest rates unchanged at its monetary policy decision on Wednesday. Notably, a series of trade agreements concluded last week also provided support for the greenback, with the looming August 1 tariff deadline keeping markets on...