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...
The US dollar strengthened against the Swiss franc on Monday (August 18th), retracing Friday's decline. The greenback strengthened against most major currencies on Monday, with all eyes on today's Trump-Zelensky meeting, while Swiss industrial production data added to concerns about economic momentum. Investors remained cautious about risk as media reports suggested that Trump would pressure his Ukrainian counterpart to accept Putin's terms for a peace deal. These demands, which largely involve ceding territory to Russia, have been flatly rejected by Zelensky on previous occasions and are...
Silver prices (XAG/USD) strengthened slightly near $38.00 during the European trading session on Monday (August 18th). The white metal attracted a few bids due to slightly cautious market sentiment, with investors awaiting the meeting between United States (US) President Donald Trump and Ukrainian President Volodymyr Zelenskyy at the White House on Monday. US Secretary of State Marco Rubio has confirmed that several European and NATO members will join Trump and Zelenskyy at the White House to discuss concessions proposed by Russian leader Vladimir Putin to end the war in Ukraine. Signs of...
The dollar steadied on Monday ahead of a key meeting between U.S. President Donald Trump and his Ukrainian counterpart Volodymyr Zelenskiy, while investors also looked ahead to the Federal Reserve's Jackson Hole symposium for more policy clues. Currency moves were largely subdued in the Asia session, though the dollar halted its fall from last week as traders further pared bets on a jumbo Fed cut next month. The euro was little changed at $1.1704, while sterling edged up 0.1% to $1.3563. Against a basket of currencies, the dollar stabilised at 97.85, after losing 0.4% last week. Markets...
Oil prices were largely unchanged on Monday after a drop in early trade, as the United States exerted no further pressure on Russia to end the Ukraine war through measures to disrupt its oil exports following a meeting of the leaders of both nations. Brent crude futures dropped 6 cents, or 0.09%, to $65.79 a barrel by 0342 GMT while U.S. West Texas Intermediate crude was at $62.82 a barrel, up 2 cents, or 0.03%. U.S. President Donald Trump met Russian President Vladimir Putin in Alaska on Friday and emerged more aligned with Moscow on seeking a peace deal instead of a ceasefire...
Silver climbed above $38 per ounce on Monday, recouping some losses from last week as investors turned their attention to a key meeting in Washington between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy amid efforts to reach a peace deal with Russia. Trump said he would press Zelenskiy to reach a quick settlement following his Friday talks with Russian President Vladimir Putin. While no ceasefire breakthrough was achieved, Putin agreed to allow the US and Europe to provide Ukraine with robust security guarantees as part of a potential deal to end the war. Investors...
The Australian Dollar (AUD) extends its gains for the second consecutive session on Monday. The AUD/USD pair holds gains as the US Dollar (USD) could face challenges amid the prevailing dovish tone surrounding the US Federal Reserve's (Fed) policy outlook for September. The AUD also received support as an upbeat Australian jobs data for July eased concerns about a weakening labor market, lessening the urgency for the Reserve Bank of Australia (RBA) to continue with another rate cut in September. RBA Governor Michele Bullock stated last week that current forecasts suggest the cash rate may...
Gold rose after hitting a two-week low, supported by lower U.S. Treasury yields as investors awaited U.S. President Donald Trump's meeting with Ukrainian President Volodymyr Zelenskiy and European leaders to discuss a peace deal with Russia. Spot gold was up 0.3% at $3,345.64 per ounce, as of 0156 GMT on Monday, after hitting its lowest level since August 1. U.S. gold futures for December delivery rose 0.3% to $3,391.80. "Gold was on the back foot to start the day, but ... was able to reverse course with buyers stepping up to around the $3,330 level as a value play. U.S. treasury yields...
The yen weakened to around 147.5 per dollar on Monday as the greenback gained ahead of a key meeting in Washington between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy aimed at advancing a peace deal with Russia. Investors also looked to the Federal Reserve's annual Jackson Hole symposium this week for signals on the global interest rate outlook. In Japan, data released Friday showed the economy expanded more than expected in the second quarter, supported mainly by net exports despite headwinds from US tariffs. Meanwhile, Japanese officials downplayed remarks from...
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....