Gold price (XAU/USD) rises to an all-time high near $4,400 during the early European trading hours on Monday. The precious metal gains momentum on the expectation of US Federal Reserve (Fed) interest rate cuts after signs of softer US inflation and cooler jobs reports. Lower interest rates could reduce the opportunity cost of holding Gold, supporting the non-yielding precious metal. Additionally, persistent safe-haven demand amid the Israel-Iran conflict and the rise in US-Venezuela tensions might contribute to the yellow metal's upside. It's worth noting that traders seek assets that can...
Oil prices rose on Monday after officials said the U.S. had intercepted an oil tanker in international waters off the coast of Venezuela, raising fresh supply uncertainty. Brent crude futures gained 57 cents, or 0.9%, to $61.04 per barrel by 0751 GMT, while U.S. West Texas Intermediate crude climbed 55 cents, or 1.0%, to $57.07. "The market is waking up to the fact that the Trump administration is taking a hardline approach to the Venezuelan oil trade," said June Goh, senior oil market analyst at Sparta Commodities. "Oil prices have thus been supported by this geopolitical news alongside...
The dollar index held at 98.6 on Monday after a modest gain last week, with trading expected to be quiet this week due to the Christmas holiday. Investor attention will mainly be on the second estimate of GDP for the third quarter, set for release on Tuesday, which may offer further insights into the economy's health and the Federal Reserve's interest rate path. Traders currently anticipate that the Fed could deliver two 25bps rate reductions next year, amid signs of easing inflation and a weakening labor market. Meanwhile, Fed Bank of Cleveland President Beth Hammack on Sunday said that...