Gold prices were steady on Thursday after a five-session rally to an all-time high as trade tensions between the world's two largest economies raised concerns about economic growth and uncertainty over the future direction of U.S. interest rates. Spot gold edged up 0.1 percent to $2,867.93 an ounce by 1214 GMT after hitting an all-time high of $2,882.16 on Wednesday. U.S. gold futures were flat at 2,892.20. (Newsmaker23) Source: Reuters
The US Dollar Index (DXY), which tracks the performance of the US Dollar against six major currencies, jumped higher ahead of the US (US) trading session on Thursday (6/2), trading slightly above 108.00 at the time of writing. The move came after comments from US President Donald Trump expressing his intention to take over Gaza and reach a nuclear deal with Iran. In addition, a plan to end the war in Ukraine may be put forward this week or next by the Trump administration as well. On the economic data front, comments from US Treasury Secretary Scott Bessent sparked some support in US...
Oil prices rose on Thursday after a sharp overnight decline as traders cautiously assessed escalating U.S.-China trade tensions, while data showing higher U.S. crude inventories reflected weak demand. At 9:10 a.m. ET (14:10 GMT), Brent crude futures were up 0.7% at $75.16 a barrel, while WTI crude futures expiring in March were up 0.8% at $71.61 a barrel. Sentiment had improved on Thursday after Saudi Aramco (TADAWUL:2222), the world's top oil exporter, detailed a sharp increase in prices for Asian buyers. "This is consistent with the strength we have seen in the physical Middle East...