Gold hit a new record high on Wednesday (September 3), consolidating gains above the $3,500 level amid growing expectations of a Federal Reserve rate cut this month and concerns over US tariff policy and the independence of its central bank. Spot gold rose 0.4% to $3,547.27 an ounce at 11:32 GMT, after hitting an all-time high of $3,549.53 earlier in the session. US gold futures for December delivery rose 0.6% to $3,613.30. Adding to market uncertainty and potential trade tensions, US President Donald Trump's administration said it would ask the Supreme Court to expedite a ruling on...
Oil prices fell after reports that the OPEC+ alliance would consider a new round of supply increases when the group meets over the weekend. Global benchmark Brent fell as much as 2.1% in London, extending previous declines. Oil prices closed at a one-month high on Tuesday. OPEC+ will consider further production increases at its meeting on Sunday, Reuters reported, citing two sources familiar with the discussions. Most analysts and traders expect OPEC+ to maintain production for October, halting a long-running production increase. An OPEC delegate said last month that the group could take...
The U.S. dollar was broadly steady on Wednesday, after a sell-off in some parts of bond markets globally in the prior session weighed on its currency peers and allowed the greenback to gain back some recently lost ground. Rising concerns over finances in countries from the U.S. to Japan partially helped to drive up longer-dated bond yields, which tend to move inversely to prices. The uptick in yields has shown signs of easing, with longer-dated European bonds stabilizing, although yields in countries like Germany and France remain close to multi-year highs. Yields on Japanese bonds have...