Gold's price surged for the third straight day and edged up 0.35% due to safe-haven demand spurred by concerns over Donald Trump's proposed policies, while the United Kingdom (UK) dealt with a budget crisis. The XAU/USD trades at $2,671 at the time of writing.
On Wednesday, CNN revealed that United States (US) President-elect Donald Trump might consider declaring a national economic emergency, which would provide him with a legal justification to impose tariffs on adversaries and US allies. Earlier during Thursday's overnight session, UK Gilt yields at the long end of the curve skyrocketed above 5%, their highest level since 1998.
In the meantime, Federal Reserve (Fed) officials are grabbing the headlines as US financial markets remained closed for former US President Jimmy Carter's National Day of Mourning.
Fed Governor Michelle Bowman maintained a hawkish stance, saying the central bank should be cautious in adjusting interest rates, while Kansas City Fed Jeffrey Schmid added that rates are "near" neutral.
Earlier, Philadelphia Fed Patrick Harker revealed that the US central bank could pause amid uncertainty, while Boston Fed Susan Collins said the current outlook suggests a gradual approach to rate cuts.
This week, traders are eyeing the release of December US Nonfarm Payrolls data and the University of Michigan (UoM) Consumer Sentiment.
Source : Fxstreet
Gold prices briefly caused a stir after hitting a new record, but then slowed. The main trigger: US President Donald Trump withheld the threat of tariffs on Europe and claimed there was a "framework" ...
Gold prices hit another record high, while silver held near its all-time high. This rise was driven by two major factors: the escalating Greenland crisis and turmoil in the Japanese government debt ma...
Gold prices remained near all-time highs on Tuesday, hovering around $4,670 per ounce. Demand for safe haven assets remained strong as US-European trade tensions escalated, prompting investors to refr...
Gold and silver hit new records after US President Donald Trump threatened to impose tariffs on eight European countries that oppose his Greenland plan. This situation immediately pushed investors int...
Gold price rises on Friday, poised to end with weekly gains of nearly 4% as an employment report in the US was mixed, with the economy adding fewer jobs than projected. Still, the Unemployment Rate ti...
Gold prices briefly caused a stir after hitting a new record, but then slowed. The main trigger: US President Donald Trump withheld the threat of tariffs on Europe and claimed there was a "framework" for a future agreement on Greenland. This calmer...
Oil prices were little changed in Asian trading on Thursday after US President Donald Trump backed down from a threat to impose tariffs on European countries over Greenland. This decision helped ease geopolitical tensions and improve market...
The Nikkei 225 Index climbed 1.73% to close at 53,689, while the broader Topix Index rose 0.74% to 3,616 on Thursday, snapping a five-day losing streak as Japanese shares were lifted by a strong rally in chip and artificial intelligence related...