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 Japanese Yen (JPY) sticks to its negative bias for the third straight day against a broadly flat US Dollar (USD), allowing the USD/JPY pair to stand firm just below mid-148.00s, or over a one-week high touched during the Asian session on Tuesday. The domestic political uncertainty, along with the potential negative impact of higher US tariffs on the economy, suggests that the prospects for further policy normalization by the Bank of Japan (BoJ) could be delayed further. This, along with a positive risk tone, continues to undermine the safe-haven JPY. That said, an upward revision in...
Gold prices (XAU/USD) strengthened in the Asian session, recovering from a previous sharp decline and returning to $3,341, surpassing a one-week low. This strengthening occurred as the US dollar struggled to maintain its two-day rally as market participants held back ahead of today's release of US consumer inflation (CPI) data. The CPI data will be a key indicator of expectations for a Federal Reserve interest rate cut, which could influence the US dollar's movement and provide fresh impetus for non-yielding gold. Ahead of the data release, speculation that the Fed could cut interest rates...
Silver prices (XAG/USD) strengthened slightly to around $37.90 in Asian trading on Tuesday (August 12th), driven by expectations that the US Federal Reserve will cut interest rates at its upcoming September meeting. This optimism arose after US employment data for July showed weakness, reinforcing the view that the central bank would shift to a more accommodative monetary policy. Dovish statements from Fed officials also weakened the US dollar, thus supporting the strengthening of dollar-denominated commodities like silver. Lower interest rates reduce the opportunity cost of holding...
Oil prices were little changed as investors weighed President Donald Trump's delay of high US tariffs on China against the likely outcome of his meeting with Russia's Vladimir Putin. Brent crude traded near $67 per barrel, while West Texas Intermediate was around $64. Prices remained near two-month lows after a sluggish trading session on Monday and low volumes at the start of the Asian session. Trump signed an order extending a ceasefire with China until November 10, delaying a scheduled tariff increase on Tuesday. Traders were looking ahead to a meeting between Trump and Putin later this...
The Australian Dollar (AUD) held its ground against the US Dollar (USD) on Tuesday ahead of the Reserve Bank of Australia's (RBA) interest rate decision. The AUD/USD pair is likely to strengthen as US President Donald Trump has extended the China tariff deadline for another 90 days. The Reserve Bank of Australia (RBA) is expected to announce a 25 basis point (bps) interest rate cut to 3.6% from 3.85% at its August monetary policy meeting. Traders will likely be watching the Monetary Policy Statement, followed by a press conference by RBA Governor Michele Bullock. The Trump administration...
Gold strengthened in early Asian trading amid a possible technical recovery after its sharpest drop in three months on Monday. The rise came after a post on US President Trump's Truth Social account clarified that the precious metal would not be subject to tariffs. Last Friday, gold surged to an all-time high following reports that bullion might be subject to tariffs. Meanwhile, traders are likely to closely monitor the US July CPI data due later today for clues on the Fed's interest rate direction. Spot gold prices rose 0.2% to $3,347.81/oz. Source: Dow Jones Newswires
Oil was little changed after President Donald Trump extended a pause of sky-high tariffs on China, stabilizing trade ties between the world's two biggest economies. West Texas Intermediate traded near $64 a barrel, near the lowest in two months, while Brent closed above $66 in a subdued session on Monday. Trump signed an order extending the truce with China by 90 days, according to a person familiar with the matter. Oil is down more than 10% this year as traders grapple with a surplus in the market after OPEC+ reversed a supply cutback made in 2023, despite signs of slowing...
The EUR/USD edges lower on Monday, down 0.26% as the Greenback is bought by traders ahead of another inflation report in the United States (US) coming Tuesday. This, along with Italy's revelation that prices reached the European Central Bank's (ECB) target, justifies the need to hold rates even at the next meeting. The pair trades at 1.1615 after hitting a daily high of 1.1675. The shared currency halted its advance, even though talks between US President Donald Trump and Russian President Vladimir Putin are expected to show progress on a possible ceasefire in Ukraine. A favorable...
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....