Gold prices jumped 2.5% on Monday to above $3,370 an ounce, hitting their highest in more than three weeks as investors sought a safe haven amid rising geopolitical and economic risks.
A 0.7% drop in the dollar made the metal more attractive to foreign buyers, further fueling the rally. Market jitters mounted after U.S. President Donald Trump announced plans to double tariffs on steel and aluminum imports to 50%, effective June 4, adding to existing trade tensions with China. Trump also accused Beijing of violating a recent tariff truce, while China retaliated with its own accusations, deepening uncertainty over global trade.
Meanwhile, the Russia-Ukraine conflict escalated after a Ukrainian drone strike reportedly destroyed more than 40 Russian aircraft, prompting a wave of missile and drone attacks from Moscow. The developments come ahead of key US economic data, a European Central Bank meeting and high-stakes US-China talks. (alg)
Source: Trading Economics
Gold prices rise over 0.44% during Friday's North American session as weaker than expected jobs market data increased the chances that the Federal Reserve (Fed) will cut interest rates next week. At t...
Gold (XAU/USD) trims a part of its intraday gains, though it sticks to positive bias through the first half of the European session on Friday and remains close to the record high touched earlier this ...
Gold prices rose on Friday and were set for a fourth consecutive weekly gain, as mounting concerns over a weakening U.S. labour market eclipsed inflation worries ahead of a widely expected Federal Res...
The Gold price (XAU/USD) edges lower to around $3,630 during the early Asian session on Friday. The precious metal retreats from a record high on some profit-taking. Nonetheless, the rising bets of th...
Gold price trimmed some of its earlier losses on Thursday, yet it remains negative in the day, down over 0.14% as the latest print of consumer inflation was aligned with estimates. Nevertheless, jobs ...
EUR/USD remains steady during the North American session on Friday, poised to end the week with modest gains of over 0.18% as traders brace for the next week's monetary policy decision by the Federal Reserve (Fed). At the time of writing, the pair...
U.S. Treasury Secretary Scott Bessent met with BlackRock Inc executive Rick Rieder in New York on Friday, as the Trump administration continued its search for a new chair for the Federal Reserve, a source familiar with the matter said. Bessent has...
Oil prices rose on Friday after a Ukrainian drone attack suspended loadings from the largest port in western Russia, but gains were capped by concerns about U.S. demand. Brent crude futures settled at $66.99 a barrel, up 62 cents, or 0.93%. U.S....
The International Monetary Fund on Thursday said the Federal Reserve has scope to lower interest rates because of the weakening U.S. labor market,...
Annual inflation in the United States (US), as measured by changes in the Consumer Price Index (CPI), rose to 2.9% in August from 2.7% in July, the...
The S&P 500 notched a second straight record-high close on Wednesday, as Oracle surged and cooler-than-expected inflation data supported...
Asian stocks moved mixed on Thursday after Wall Street rallied and pushed the S&P 500 to a new record. A decline in US producer price inflation...