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...
Silver (XAG/USD) kicks off the week on a strong footing, with spot prices extending their rally for a fifth consecutive session, breaking above the $40.00 mark to hit fresh 14-year highs — levels last seen in September 2011. At the time of writing, the metal is consolidating around $40.70, as thin trading conditions prevail due to the US Labor Day holiday. The sustained rally in Silver comes on the back of broad US Dollar (USD) weakness and firm expectations of a Federal Reserve (Fed) interest rate cut in September, which continues to support demand for non-yielding assets. Market sentiment...
Gold (XAU/USD) started the week on a stronger note, extending its five-day rally to reach its highest level in more than four months, last seen on April 22. A generally weaker US dollar and strong expectations for a Federal Reserve (Fed) interest rate cut in September continued to support gold's momentum. At the time of writing, XAU/USD was consolidating around $3,477 in the American session, after hitting an intraday high of $3,490 during Asian hours—just shy of its all-time peak of $3,500. Mild technical selling and stable US Treasury yields weighed on sentiment, while trading...
Gold (XAU/USD) started the week on a positive note, extending its rally for the fifth consecutive day to reach its highest level in more than four months, last seen on April 22. A generally weaker US dollar (USD) and strong expectations for a Fed rate cut in September continued to bolster bullion's momentum. At the time of writing, XAU/USD was trading around $3,470 in the European session, down from an intraday high of $3,489 recorded during the Asian session and approaching an all-time high of $3,500. Mild technical selling and stable US Treasury yields weighed on sentiment, while trading...
Oil prices rose more than 1% on Monday amid concerns over supply disruptions due to escalating Russian-Ukrainian airstrikes and a weakening dollar. Brent crude rose 83 cents, or 1.2%, to $68.31 a barrel at 12:15 GMT. U.S. West Texas Intermediate crude also rose 83 cents, or 1.3%, to $64.84. Trading is expected to be light due to a U.S. public holiday. Brent and WTI crude recorded their first monthly declines in four months in August, falling 6% or more due to increased supply from the OPEC+ producer group. "Crude oil fell in August and started September without a clear direction within...
EUR/USD traded higher near a one-week high around 1.1730 during the European trading session on Monday. The major currency pair strengthened as the US Dollar (USD) underperformed its peers amid strong expectations that the Federal Reserve (Fed) will continue its monetary easing cycle at its September policy meeting. At the time of writing, the US Dollar Index (DXY), which tracks the greenback against six major currencies, was trading near its August low around 97.55. According to the CME FedWatch tool, there is an 87.6% chance that the Fed will cut interest rates by 25 basis points (bps)...
Gold hit a more than four-month high on Monday (September 1) as speculation of a US Federal Reserve interest rate cut this month and a weaker dollar boosted bullion's appeal, while silver broke through $40 an ounce for the first time since 2011. Spot gold rose 0.9% to $3,477.89 an ounce at 08:47 GMT, reaching its highest level since April 22. US gold futures for December delivery rose 0.9% to $3,548.0. Spot silver jumped 2.7% to $40.72 an ounce, its highest since September 2011. The US dollar traded near its lowest level since July 28 against a basket of major currencies, making...
The dollar extended its recent decline as investors built bearish positions ahead of Friday's key US employment report. Spot volumes were around 70% of recent averages, with European flows nearly one-sided, according to Europe-based traders. Demand for bearish greenback exposure to Friday's figures began late last week and maintained its bias as September trading began. The Bloomberg Dollar Spot Index fell 0.1%, down for a fifth day; a close lower this week would mark the longest losing streak since April 2023. The Labor Day holiday in the US will keep spot and options volumes...
Oil prices have held steady in a narrow range recently as traders focused on concerns about a potential oversupply and signals of Russian oversupply. Brent traded near $68, holding within the $65 to $70 range it has held for the past month. India denied increasing US pressure to end Russian crude imports, with the country's oil minister saying the purchases help protect the global economy from price spikes. Prime Minister Narendra Modi met with Vladimir Putin at a regional summit in China. Trading on Monday is likely to be light due to the Labor Day holiday in the US. Global oil benchmarks...
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....