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...
Oil prices rose on Thursday (August 21st), boosted by signs of strong demand in the United States, with uncertainty over efforts to end the war in Ukraine also providing support. Brent crude futures approached a two-week high and rose 46 cents, or 0.7%, to $67.30 a barrel at 08:17 GMT. U.S. West Texas Intermediate (WTI) crude rose 50 cents, or 0.8%, to $63.21 a barrel. Both contracts rose more than 1% in the previous session. Russia said on Wednesday that efforts to resolve Ukraine-related security issues related to the war without Moscow's participation were "a futile path." "If the White...
The U.S. dollar held below its one-week high on Thursday (August 21st), and European stock markets opened flat as investors prepared for three days of potentially market-moving news from the Federal Reserve's annual symposium in Jackson Hole. Central bankers from around the world will attend the event, which begins later, with the primary focus being Fed Chair Jerome Powell's speech on Friday, while traders try to gauge the chances of a September interest rate cut. The pan-European STOXX 600 and Germany's DAX were little changed at the open. The UK's FTSE 100 rose 0.1%, while France's CAC...
USD/CHF appreciates after registering nearly 0.5% losses in the previous session, trading around 0.8050 during the Asian hours on Thursday. The pair appreciates as the US Dollar (USD) receives support after the release of the Federal Open Market Committee's (FOMC) Minutes for the July 29-30 meeting on Wednesday. Swiss Trade Balance data will be eyed later in the day. Focus will be shifted to the preliminary S&P Global US Purchasing Managers Index (PMI) data due later in the North American session. The Fed minutes indicated that most Federal Reserve (Fed) officials emphasized that...
The GBP/USD pair drifts lower to around 1.3450 during the Asian trading hours on Thursday, pressured by a modest rebound in the US Dollar (USD). Traders await the preliminary reading of S&P Global Purchasing Managers Index (PMI) reports for August from the United Kingdom (UK) and the United States (US), which are due later on Thursday. On Friday, all eyes will be on the Fed's annual Jackson Hole symposium. The Greenback strengthens against the Pound Sterling (GBP) on diminishing odds of a Fed rate cut in the September meeting after a jump in US wholesale prices last month. Markets...
EUR/USD edges lower after registering slight gains in the previous session, trading around 1.1640 during the Asian hours on Thursday. The Euro (EUR) depreciates against the US Dollar (USD) ahead of HCOB Purchasing Managers' Index (PMI) data from Germany and the Eurozone. Germany's HCOB PMI data is scheduled to be released on Thursday at 07:30 GMT, with the Services PMI expected at 50.3. The Eurozone HCOB PMIs follow at 08:00 GMT, with forecasts pointing to 49.5 for Manufacturing and 50.6 for Services. On Wednesday, the Eurostat reported that the European Union (EU) Harmonized Index of...
Oil held a gain after US crude stockpiles shrunk the most since mid-June, keeping inventories well below the seasonal average. Brent traded around $67 a barrel after climbing 1.6% on Wednesday, while West Texas Intermediate was near $63. Nationwide holdings fell by 6 million barrels last week, according to Energy Information Administration figures. Gasoline stockpiles also declined for a fifth straight week. Oil is still down more than 10% this year on concerns about the fallout from US trade policies and as OPEC+ returns idled production, raising expectations for a glut...
Lower bond yields and a weaker US dollar in recent weeks have failed to fuel a further rally in gold, said BMI, a unit of Fitch Solutions. "On the other hand, despite easing trade uncertainty and geopolitical tensions, gold remains reluctant to collapse," BMI said in a report. BMI revised its 2025 annual average gold price forecast to $3,250/oz, from $3,100/oz previously. BMI expressed a neutral to slightly bullish outlook for the remainder of 2025. Prices are expected to remain elevated in the coming weeks as the market prepares for a Fed rate cut, it said. However, "we believe gold's...
Silver traded around $37.8 per ounce on Thursday, consolidating after an over 1% rally in the previous session, as investors looked ahead to the Federal Reserve's annual Jackson Hole symposium for policy cues. Market participants are set to focus on Fed Chair Jerome Powell's remarks, searching for indications of whether the central bank may push back against expectations for near-term monetary easing. Minutes from the Fed's July meeting underscored that most policymakers remain more concerned about persistent inflation pressures than about labor market risks, while tariffs and trade policy...
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....