The US dollar weakened again on Tuesday, extending its decline for two consecutive days. Improving risk sentiment ahead of the year-end period was the main factor driving the dollar's weakness. The Bloomberg Dollar Spot Index fell 0.1%, after plunging 0.4% on Monday. Investors began to show optimism ahead of the year-end holidays, which impacted major currency movements. The yen strengthened significantly, breaking through 157 against the dollar, supporting the previously depressed Japanese currency. USD/JPY fell 0.3% to 156.58 after Japanese Finance Minister Satsuki Katayama stated that...
Silver prices surged to an all-time high on Tuesday, hitting $69.5 per ounce, breaking the previous record. This rise was driven by escalating geopolitical tensions, with the US continuing to tighten its blockade of Venezuelan tankers and PDVSA facing difficulties following a recent cyberattack. This heightened global uncertainty strengthens silver's position as a safe-haven asset. Market sentiment toward silver has become increasingly positive, particularly due to tensions in Venezuela. The US crackdown on Venezuela's oil sector has increased the risk of supply disruptions and worsened the...
Gold prices hit a record high in early Asian trade on Tuesday, extending recent gains as safe-haven demand was buoyed by heightened geopolitical tensions between the U.S. and Venezuela. Thin trading volumes, on account of the year-end holidays, magnified moves across gold and other precious metals. Gold and silver prices hit record highs on Monday, while platinum and palladium hit multi-year peaks. Spot gold last traded 1% higher at $4,484.02 an ounce by 22:50 ET (03:50 GMT), after touching a record high of $4,497.82/oz earlier in the day. Gold futures for February jumped 1.3% to a peak...