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...
GBP/USD retraces its recent gains from the previous session, trading around 1.3520 during the Asian hours on Tuesday. The pair depreciates as the US Dollar (USD) gains ground, driven by persistent inflationary pressures in the United States (US), which heightened uncertainty over potential Federal Reserve (Fed) rate cuts. Traders will likely observe the August ISM Manufacturing Purchasing Managers Index (PMI) later in the day. Furthermore, traders will also observe upcoming labor market data this week that could shape the US Federal Reserve's (Fed) policy decision in September. Key reports...
Silver price (XAG/USD) trades near $40.85 per troy ounce, the highest since September 2011, which was marked during the Asian hours on Tuesday. The precious metals like Silver attract buyers amid increased safe-haven demand, driven by US Federal Reserve (Fed) independence concerns, uncertainty surrounding Fed policy outlook, and US President Donald Trump's tariffs. United States (US) July's Personal Consumption Expenditures (PCE) Price Index signaled persistent inflationary pressures and heightened uncertainty over potential Fed rate cuts. However, traders are now pricing in more than 89%...
The Australian dollar weakened to around $0.654 on Tuesday, snapping a five-session winning streak, as investors paused amid a mix of domestic economic signals. Notably, Australia's current account deficit narrowed to over one-year low in Q2 2025, coming in better than market expectations. Moreover, manufacturing activity jumped to a near three-year high in August 2025, marking the eighth consecutive month above the 50-point expansion threshold. Meanwhile, business inventories saw their weakest expansion since the contraction in Q3 2024. In the housing sector, private house approvals...
The dollar index hovered around 97.8 on Tuesday as investors returned from the holiday weekend and awaited crucial labor market reports this week that could shape the Federal Reserve's policy path. Attention is on Friday's August payrolls release, alongside unemployment, job openings, and private hiring figures. The greenback has faced pressure recently as markets boosted bets on Fed rate cuts despite sticky inflation, with traders pricing in nearly a 90% chance of a 25 basis point reduction later this month. San Francisco Fed President Mary Daly said Friday the central bank is prepared to...
The spot gold price strengthened again and set a new record in trading on Tuesday (September 2nd) morning, reaching US$3,505 per ounce—its highest level ever. Market sentiment was driven by strong expectations that the Federal Reserve will cut interest rates by 25 basis points at its upcoming September meeting, with a probability of nearly 90 percent. The weakening US dollar also strengthened gold's position as a safe-haven asset, especially following dovish comments from Fed officials and a US court ruling that partially lifted Trump-era tariffs. Meanwhile, holdings of SPDR Gold Trust—the...
Gold prices rose to an over four-month high on Tuesday and were close to a record high as safe haven demand was boosted by heightened uncertainty over U.S. President Donald Trump's trade tariffs. Persistent bets that the Federal Reserve will cut interest rates in September kept gold underpinned, as did sustained weakness in the dollar, which hit a one-month low. Spot gold rose 0.2% to $3,483.02 an ounce, while gold futures for December rose 0.2% to $3,554.32/oz by 20:41 ET (00:41 GMT). Spot prices were trading less than $20 away from a late-April record high of $3,500/oz. US tariff...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $64.50 during the early Asian trading hours on Tuesday. The WTI edges lower amid concerns about weaker global demand following US President Donald Trump's doubling of the existing 25% duty on Indian exports. Traders brace for the American Petroleum Institute (API) weekly crude oil stock, which will be published later on Tuesday. The Trump administration's decision to impose steep tariffs on Indian imports took effect, raising fears of slowing trade and weaker global demand, which undermines the WTI price. The Trump...
Global benchmark Brent crude oil settled 1% higher on Monday, as concerns mounted that intensifying airstrikes in Russia and Ukraine could lead to supply disruptions, and as a weaker dollar lent additional support. Brent crude futures settled up 67 cents, or 1%, at $68.15 a barrel. The U.S. benchmark, the West Texas Intermediate futures contract , was up 67 cents, or 1.1% at $64.68 by 2:15 p.m. ET. There will be no settlement for WTI futures on Monday due to Labor Day holiday in the U.S. Trading volume for both Brent and WTI was also muted due to that reason. Ukrainian President Volodymyr...
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....