Gold's price (XAU/USD) has breached the previous all-time high and sets a new record high at $2,942 in early Tuesday trading before flipping into a loss for the day.
Meanwhile, United States (US) President Donald Trump has imposed 25% tariffs on steel and aluminum imports for all countries as of March 12,, while China has quietly imposed retaliatory tariffs on some US goods.
China is only showing its teeth by now and has not gone full blazing, while US President Trump is nowhere near his promised 60% levies on all Chinese products as announced earlier in his campaign, Bloomberg reports.
Meanwhile, traders will focus on Federal Reserve (Fed) Chair Jerome Powell's semiannual testimony to lawmakers on Tuesday and Wednesday for fresh clues about the path the US monetary policy will take.
Powell is likely to highlight the resilient economy as a key reason central bankers are in no rush to cut borrowing costs further. This is a big risk for Gold this Tuesday, as it could be a bearish element for bullion.
Source: FXStreet
Gold prices held above the $4,000 level on Thursday (October 9th), as investors assessed the Israel-Hamas ceasefire agreement, while broader geopolitical and economic uncertainty and expectations of a...
Gold fell slightly after breaking its all-time record above $4,000/oz. At the start of Thursday's Asian session, prices fell ±0.7% to around $4,015 after rising 1.4% the previous day. Technical indica...
Gold (XAU/USD) marks another milestone on Wednesday, smashing through the $4,000 level for the first time as investors flock to the precious metal amid global economic and political uncertainty, coupl...
Gold surged above $4,000 an ounce for the first time on Wednesday (October 8th) as investors flocked to the safe haven asset's historic rally to protect themselves from global economic and geopolitica...
Gold reapproached the psychological $4,000/oz level on Wednesday (October 8th), extending the safe-haven rally. Spot prices briefly touched an intraday record around $3.99,000, while the most-active D...
The S&P 500 and Nasdaq Composite reached new heights on Thursday as the market's march higher carries on. The broad market index hovered around the flatline, while the tech-heavy index dropped 0.2%. Both indexes had hit new all-time intraday...
President Donald Trump announced steep tariffs on imported lumber and wood products, which his administration says are necessary to protect the US economy and encourage domestic manufacturing. Starting October 14, softwood lumber will be subject to...
The dollar weakened on Thursday (October 9th), for the first time this week; most G-10 currencies weakened on the day, with the Australian and Canadian dollars outperforming the rest. The Bloomberg Dollar Spot Index fell less than 0.1% USD/JPY...
Euro Area Stock MarketEuropean stocks closed mostly lower on Monday as fresh political turmoil in France rekindled concerns of fiscal instability...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for...
The S&P 500 and Nasdaq Composite closed at record highs on Monday, spurred by optimism about increased mergers and acquisitions activity after...
Asia-Pacific markets traded mixed Wednesday, breaking ranks from Wall Street losses, after the World Bank raised the region's growth forecast...