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 Swiss Franc (CHF) remains subdued against the US Dollar (USD) on Friday, with USD/CHF hovering in a familiar range established this week, as traders weigh the latest US tariff decision targeting Swiss Gold exports and its potential fallout on Switzerland's economy and trade relations. At the time of writing, the pair is trading around 0.8080, struggling to break out decisively in either direction amid cautious market sentiment and diminished safe-haven demand, as risk-on mood prevails on the back of strong global equity markets. The spotlight is firmly on Switzerland's gold industry...
Oil prices edged lower on Friday and were poised for the steepest weekly losses since late June on reports of a deal between U.S. and Russia, and a tariff-hit economic outlook. Brent crude futures were down 7 cents at $66.36 a barrel by 11:18 a.m ET (1518 GMT). U.S. West Texas Intermediate crude futures eased 21 cents, or 0.3%, to $63.67. Brent was on track to fall 4.8% over the week, while WTI was set to finish 5.5% lower than last Friday's close. Washington and Moscow are aiming to reach a deal to halt the war in Ukraine that would lock in Russia's occupation of territory seized during...
Gold Price steadies in the spot markets, yet the futures reached a record high of $3,534 on reports that the United States (US) will apply tariffs on imports of Gold bars. Besides this, market players continued to digest US economic data revealed during the week as traders brace for the release of inflation figures next week. The XAU/USD trades at $3,397, virtually unchanged. During the overnight session, the price spread between New York Comex futures and spot prices widened by more than $100, as revealed by Reuters after the Financial Times reported on Thursday that the US imposed tariffs...
Oil steadied after a run of declines, as traders await US President Donald Trump's next moves to halt the war in Ukraine after he announced tariffs on India this week for taking Russian oil. Brent was marginally higher above $66 a barrel, after six straight drops, the longest run since May. Trump — who'd set a deadline of Friday for Moscow to agree to a truce — said that he'd be willing to meet with Vladimir Putin, even if the Russian leader hasn't yet agreed to sit down with Ukrainian President Volodymyr Zelenskiy. Earlier this week, Trump doubled levies on all Indian...
Gold (XAU/USD) is edging lower on Friday after peaking at $3,409 earlier in the day, its highest level in two weeks amid a cautious market mood. At the time of writing, the metal is hovering near $3,395 at the start of the American session. The precious metal remains underpinned by concerns over the economic impacts from US tariffs, persistent inflation worries, and growing speculation that the Federal Reserve (Fed) will lower the interest rate in September. However, a modest rebound in the US Dollar (USD) and relatively stable Treasury yields are capping further upside, as bulls struggle...
US tariffs on gold bars have caused US futures on the metal to jump higher versus the spot price set in London. The move may end up enhancing the importance of the US in the global bullion market. An unexpected levy on one-kilogram and 100-ounce gold bars coming into the US has caused upset in the precious metals market. The import tax will have the greatest impact on Switzerland, one of the top refining centers. The futures market for gold is based out of New York on the Comex exchange, and the very bars that are being tariffed are those that are suitable for Comex...
The dollar firmed slightly on Friday but was heading for a weekly fall as U.S. President Donald Trump's temporary choice for a fill-in Federal Reserve governor stoked expectations for a dovish pick to replace chair Jerome Powell when his term ends. The yen was a touch weaker on the day against the dollar, which fell 0.31% to 147.560 yen. The dollar also rose 0.25% against the euro to $1.163775 and strengthened 0.29% against the Swiss franc to 0.80840 francs. As concerns over softening U.S. economic momentum, especially in the labour market, boost hopes of Fed rate cuts, the dollar was down...
Oil prices were stable on Friday but poised for the steepest weekly losses since late June on a tariff-hit economic outlook and a potential meeting between U.S. President Donald Trump and Russian counterpart Vladimir Putin. Brent crude futures were up 21 cents, or 0.32%, at 6.64 a barrel by 0901 GMT. U.S. West Texas Intermediate crude futures rose 18 cents, or 0.28%, to $64.06. Brent was on track to be down 4.3% over the week while WTI was set to finish 4.9% lower than last Friday's close. Higher U.S. tariffs against a host of trade partners went into effect on Thursday, raising concern...
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....