Gold prices rose sharply again on Tuesday (January 20th), hitting a new record, breaking through the psychological barrier above $4,700 per ounce. This rise was driven by a "flight to safety" as geopolitical tensions escalated and trade war concerns resurfaced in global markets. On the spot market, gold rose more than 3% to around $4,750/oz, after hitting an intraday peak of $4,766.10/oz. US gold futures for February delivery closed 3.7% higher at $4,765.80/oz. This movement indicates that demand for gold remains strong despite prices reaching unprecedented levels. The trigger came from a...
The Japanese yen weakened to near 158.5 per dollar on Thursday, amid market concerns over the worsening fiscal outlook. The Bank of Japan (BOJ) began a two-day policy meeting, and traders remained wary of possible intervention to stabilize the yen. Prime Minister Sanae Takaichi called a snap election and pledged to ease fiscal policy, including eliminating the 8% sales tax on food. Meanwhile, the BOJ is expected to keep interest rates steady at 0.75% after a hike in December, maintaining monetary stability even as pressure on the yen remains high. Economically, Japanese exports rose for...
The USD/CHF currency pair moved steadily near 0.7950 in late Asian trading on Thursday. This movement continued the recovery that began on Wednesday, after a sharp correction on January 19-20. This strengthening was supported by increased buying interest in the US dollar following US President Donald Trump's speech at the World Economic Forum (WEF) in Davos. At the same time, the US Dollar Index (DXY) traded firmly around 98.80, near the previous day's high. Trump stated that the United States would not use military action or threaten tariffs against the European Union over the Greenland...