Gold falls below $4,000 as US–China trade thaw eases safe-haven demandGold price slides below $4,000 for the first time since mid-October, hitting a daily low of $3,971 as risk appetite improved due to easing tensions between the US and China in regard to the trade war. Nevertheless, expectations that the Federal Reserve (Fed) would resume its easing cycle could prompt investors to buy the yellow metal. Yellow metal slips nearly 3% despite firm Fed rate cut expectationsXAU/USD trades at $3,995, losing 2.80% amid a trading session that is also witnessing a weaker US Dollar and falling US...
Oil steadied after two-day drop as investors weighed signs of glut and the fallout from western sanctions on Russian producers. West Texas Intermediate traded near $61, while Brent closed below $66 on Monday. The amount of oil being shipped across the world's oceans hit a fresh record, a sign supplies are continuing to mount. In addition, OPEC+ may agree to add more production at a meeting this weekend. US sanctions against Russia's biggest oil companies — which lifted crude last week — were also in focus. Washington has floated a six-month deadline for Berlin to...
Gold clawed back some losses after plunging below $4,000 an ounce on Monday as progress in US-China trade talks sapped demand for haven assets. Bullion edged higher on Tuesday after tumbling 3.2% in the previous session as negotiators from Washington and Beijing said they'd struck a series of agreements on issues including tariffs and export controls. Treasuries moved lower even as traders stuck to bets that the Federal Reserve is set to loosen monetary policy this week, with the higher yields weighing on demand for non-interest bearing gold. Gold has pulled...