The US dollar and Treasury yields fell after Zions Bancorp and Western Alliance admitted to fraudulent lending to funds investing in troubled commercial mortgages. The Bloomberg Dollar Spot Index weakened 0.1% (the fourth straight day) and is heading for its worst week since July. The bond rally pushed the 2-year yield to its lowest level since September 2022, and the 5-year yield to its lowest since October 2024. "The USD moved lower as yields fell and regional bank concerns increased," said Mahjabeen Zaman (ANZ). USD/JPY briefly fell 0.3% to 149.93, breaking below 150 for the first time...
Silver hovered all-time highs above $54 per ounce on Friday and was poised to gain about 8% for the week, supported by tightening global supply and strong safe-haven demand. Markets were rattled after two US regional banks disclosed loan problems involving alleged fraud, heightening fears of broader credit market stress. Escalating US-China trade tensions, the prolonged US government shutdown, and growing expectations of further Federal Reserve rate cuts also bolstered appetite for precious metals. Geopolitical risks and concerns over surging government spending and debt further fueled...
Gold (XAU/USD) is on a record-breaking spree, hitting yet another all-time high near $4,380 on Friday as investors seek a reliable store of value amid geopolitical, economic and fiscal uncertainty. At the time of writing, XAU/USD is trading around $4,292, easing from record highs and down nearly 0.80% on the day. Despite the pullback, the metal remains on track for its ninth consecutive weekly gain. Lingering concerns over the prolonged US-China trade standoff remain a key driver behind Gold's recent surge as trade tensions continue to cast a shadow over global growth prospects. The rally...