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...
Gold prices weakened in trading on Monday (August 11th) as easing geopolitical tensions reduced demand for safe-haven assets. Market participants are now shifting their attention to US consumer inflation data scheduled for release on Tuesday, which is expected to provide clues to the Federal Reserve's future interest rate policy. Spot gold fell 0.7% to $3,376.67 per ounce at 02:48 GMT, while US gold futures for December delivery fell 1.5% to $3,439.70. Pressure on gold prices emerged following the announcement that US President Donald Trump would meet Russian President Vladimir Putin on...
Global crude oil prices fell at the start of this week after posting their biggest weekly decline since late June. This decline comes ahead of a crucial meeting between US President Donald Trump and Russian President Vladimir Putin next Friday, which has raised hopes of a peace deal to end the war in Ukraine. Brent prices are trading near $66 per barrel after falling 4.4% last week, while West Texas Intermediate (WTI) is holding steady above $63. The market responded to Trump's statement that he did not announce additional sanctions against Russia or tariffs on Russian energy buyers when...
The GBP/USD pair started the new week on a calm note, consolidating its relatively strong recovery from the 1.3140 area, its lowest level since April 14, reached earlier this month. Spot prices traded just below the mid-1.3400s during the Asian session, remaining largely unchanged throughout the day, although the fundamentals appear to be tilted toward bullish traders. The Bank of England (BoE), as widely expected, cut interest rates by 25 basis points (bps) last week, bringing the benchmark interest rate down to 4%, its lowest level since 2023. However, the narrow 5-4 vote indicated...
EUR/USD strengthened slightly after posting losses in the previous session, trading around 1.1650 during the Asian session on Monday (August 11th). The pair was supported by a strengthening euro (EUR), driven by prevailing expectations that the European Central Bank (ECB) will end its easing cycle in September. Furthermore, the euro was supported by improving market sentiment due to the possible end to the Ukraine-Russia war. News of a possible Trump-Putin meeting next week has some hoping for a deal that could end hostilities in Ukraine. The EUR/USD pair also strengthened as the US dollar...
Gold futures in New York were steady as traders awaited clarification from the White House on its tariff policy, after a US government agency surprised markets last week by formally deciding that 100-ounce and one-kilogram gold bars would be subject to duties. Gold futures traded around $65 an ounce above the global spot benchmark on Monday, after surging to a record on Friday before erasing gains as the government told Bloomberg it would clarify what it called "misinformation" about tariffs on gold and other specific products. The price spread between trading centers in the US and London...
Oil prices fell after their biggest weekly drop since late June before a meeting between U.S. and Russian leaders on Friday, which raised the prospect of an end to the war in Ukraine and more supplies. Brent traded near $66 a barrel, after falling 4.4% last week, while West Texas Intermediate was above $63. President Donald Trump did not reveal additional sanctions on Russia, or tariffs on its energy buyers, when he announced the summit in Alaska, despite setting an August 8 deadline for the Kremlin to agree to a ceasefire. U.S. and Russian officials are working on a deal that would lock...
The EUR/USD consolidates near the week's highs, shy of testing the 1.1700 figure on a week in whichthe US Dollar is poised to finish the week with over 1.84% losses against its peers. The hangover of last week's US Nonfarm Payroll figures, and subsequent worse-than-expected employment data, underpins the Euro, due to increasing chances that the Federal Reserve (Fed) will resume its easing cycle. The EUR/USD trades at 1.1648, down 0.14% daily, as market mood is upbeat due to the chance that the Ukraine-Russia war could end. News of a possible Trump-Putin meeting next week leads some to...
The Australian Dollar (AUD) is consolidating gains against the US Dollar (USD) on Friday, buoyed by weakness in the Greenback amid growing expectations that the Federal Reserve (Fed) will cut interest rates in September, following soft labor market data and signs of a slowing US economy. At the time of writing, the AUD/USD pair is trading around 0.6520 during the American session, heading into the weekend poised to post weekly gains of approximately 0.80%. Meanwhile, the US Dollar Index (DXY), which tracks the value of the Greenback against a basket of six major currencies, remains pinned...
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....