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 tone made the market a little more willing to take risks, thus easing the pressure to buy gold as a safe haven. However, the big picture hasn't changed: gold remains in high territory because the world remains filled with uncertainty. Trade wars could resurface at any time, geopolitical tensions haven't completely subsided, and investors are...
Gold and silver rallied to fresh all-time highs on escalating geopolitical tensions and prospects for more US rate cuts. Spot silver rose as much as 3.6% to trade above $70 an ounce for the first time. Gold was near $4,500 an ounce, extending gains after its biggest one-day jump in more than a month. Traders are betting the Federal Reserve will follow three straight interest-rate cuts by lowering the cost of borrowing again next year, which would be a tailwind for non-yielding precious metals. Gold's haven appeal has also been amplified in the last week by rising geopolitical...
Silver extended its record rally on Tuesday, reaching the key $70 an ounce mark, while gold pared gains after hitting an all-time high as stronger-than-expected US economic data triggered a decline. Spot silver rose 0.7% to $69.48 an ounce after hitting a record high of $70.66 earlier. Prices are up 123% since the start of the year. "It's essentially the supply and demand realities in a market that's been in deficit for five years, along with rising industrial demand. The safe-haven aspect, expectations of a weaker dollar, and lower yields are all part of that equation," said Peter Grant,...
Oil prices are expected to end four consecutive days of gains as traders weigh the US crackdown on Venezuelan shipments amid weak demand. West Texas Intermediate (WTI) prices fluctuated near $58 per barrel, while Brent neared $62. The US has boarded one tanker, seized another, and recently pursued a third near Venezuela, as Washington increases pressure on the government of Nicolas Maduro. However, more than a dozen vessels have loaded oil off the country's coast since the Trump administration stepped up efforts to curb Caracas's crude revenues. Trading volumes tend to decrease ahead of...
Global gold prices recorded a slight decline in today's US trading session after the release of the latest economic data showing stronger-than-expected US economic growth. Third-quarter US GDP data showed solid expansion, triggering a strong response in financial markets and putting pressure on the precious metal as a safe-haven asset. A strengthening US economy tends to reduce expectations of further monetary easing by the Fed, as high growth often reduces the likelihood of an imminent interest rate cut. This strong data also supported a strengthening US dollar and rising Treasury bond...
The US dollar weakened against a number of major global currencies as market expectations for the Federal Reserve's (Fed) monetary policy easing increased. Market participants believe inflationary pressures in the United States are beginning to ease, opening room for the central bank to lower interest rates in the near future. These expectations of interest rate cuts are the main factor pressuring the dollar. Lower interest rates make the yields on dollar-denominated assets less attractive, prompting some investors to shift funds to other assets, including emerging market currencies and...
Oil prices were mostly flat in European trade on Tuesday, cooling after sharp gains in the prior session as heightened tensions between the U.S. and Venezuela and attacks on Russian oil infrastructure pointed to disruptions in global supplies. Trading volumes were thin ahead of the year-end holidays, while oil prices were still nursing deep losses this year on concerns over slowing demand and a looming supply glut. Brent oil futures for February rose 0.1% to $62.12 a barrel, while West Texas Intermediate crude futures were unchanged at $58.01 a barrel US-Venezuela tensions in focus; Trump...
Gold prices hit a record high in early Asian trade on Tuesday, extending recent gains as safe-haven demand was buoyed by heightened geopolitical tensions between the U.S. and Venezuela. Thin trading volumes, on account of the year-end holidays, magnified moves across gold and other precious metals. Gold and silver prices hit record highs on Monday, while platinum and palladium hit multi-year peaks. Spot gold last traded 1% higher at $4,484.02 an ounce by 22:50 ET (03:50 GMT), after touching a record high of $4,497.82/oz earlier in the day. Gold futures for February jumped 1.3% to a peak...
Silver prices surged to an all-time high on Tuesday, hitting $69.5 per ounce, breaking the previous record. This rise was driven by escalating geopolitical tensions, with the US continuing to tighten its blockade of Venezuelan tankers and PDVSA facing difficulties following a recent cyberattack. This heightened global uncertainty strengthens silver's position as a safe-haven asset. Market sentiment toward silver has become increasingly positive, particularly due to tensions in Venezuela. The US crackdown on Venezuela's oil sector has increased the risk of supply disruptions and worsened the...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....