The U.S. dollar drifted lower Thursday on growing expectations of further interest rate cuts by the Federal Reserve this year, while signs of French political accord helped the euro. At 04:45 ET (08:45 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.2% lower to 98.342, headed for a weekly decline of 0.3%. More Fed cuts ahead?Market participants are becoming increasingly convinced that the U.S. central bank will follow last month's interest rate cut with more monetary easing as data points to growth slowing in the world's largest...
Gold hit a new record high above $4,100 on Tuesday (October 14), boosted by expectations of an interest rate cut this month by the US Federal Reserve and investors fleeing for safety amid escalating trade tensions between Washington and Beijing. Spot gold rose 0.9% to $4,145.85 per oz at 1:50 PM ET (17:50 GMT), after hitting a record high of $4,179.48 earlier in the session. US gold futures for December delivery rose 0.7% to close at $4,163.40. The precious metal has surged about 57% this year, breaking through $4,100 for the first time on Monday. The rally has been driven by a combination...
Oil prices plunged more than 2% on Tuesday as the International Energy Agency (IEA) warned of a significant oversupply by 2026, and due to ongoing trade tensions between the US and China, the world's two largest economies. Brent crude futures fell $1.38, or 2.2%, to $61.94 per barrel at 11:47 a.m. ET (15:47 GMT), while US West Texas Intermediate crude fell 2.1%, or $1.24, to $58.27. Both contracts are at their lowest levels in five months. In the previous session, Brent closed up 0.9%, and US WTI closed up 1%. "The renewed tensions between the US and China will also be a pressure point for...
Gold (XAU/USD) is taking a breather on Tuesday after surging to a fresh all-time high near $4,179 earlier in the day as safe haven demand remains supported amid intensifying US-China trade tensions, dovish Federal Reserve (Fed) expectations, and growing uncertainties across major economies. At the time of writing, XAU/USD is holding firm near $4,125 after a sharp intraday drop from record highs to $4,090. Traders have locked in partial gains following an overextended rally. However, the downside remains cushioned as fears of a prolonged trade standoff between the world's two largest...
The U.S. dollar was choppy on Tuesday, as investors attempted to gauge the longevity of a flare-up in trade tensions between the U.S. and China. U.S. President Donald Trump has appeared to rein in his strident rhetoric about China in recent days, after previously saying he would slap triple-digit tariffs on the country following Beijing's move to expand its restrictions on exports of critical rare earth materials. Despite signs of the White House assuming a more conciliatory stance, some concerns have continued to swirl around the intractable nature of the trade spat between the world's...
Silver price (XAG/USD) maintains its position after retreating from a fresh record high of $53.77, currently trading around $52.40 per troy ounce during the European hours on Tuesday. Silver prices climbed as a historic short squeeze in London intensified a rally driven by soaring demand for safe-haven assets. The price of the grey metal surged amid growing concerns over liquidity shortages in London, prompting some traders to secure cargo space on transatlantic flights for Silver bars, an unusually costly transport method typically reserved for Gold, in a bid to capitalize on higher prices...
Gold prices fell to $4,090 ahead of the European session on Tuesday after briefly reaching an all-time high of $4,179. This occurred as market participants cautiously awaited a speech by Fed Chairman Jerome Powell. With expectations that Powell might signal that the US central bank will remain cautious or cautious in easing interest rates, demand for safe-haven assets like gold has been depressed. Amidst sensitive market conditions, a slight change in tone from Powell could trigger a sharp reaction. Furthermore, the strengthening of the US dollar also weighed on gold prices because gold is...
Gold rises in the early Asian session, buoyed by the bullish fundamental backdrop. The BofA Global Research team expects further upside in 2026, with gold and silver potentially rising to $5,000/oz and $65/oz, respectively. "White House's unorthodox policy framework should remain supportive for gold," the team says in a research report, citing drivers including fiscal deficits, rising debt, and a push to cut rates. Spot gold is 0.5% higher at $4,131.72/oz after earlier touching a record intraday high of $4,132.04/oz. Source: Dow Jones Newswires
Oil steadied after paring a slump in the week's opening session, as investors weigh the fallout of renewed US-China trade tensions against demand. West Texas Intermediate traded near $60 a barrel after gaining 1% in the previous session — following a 4.2% plunge on Friday — while Brent closed just above $63. US president Donald Trump eased his rhetoric against China after touting a fresh round of US tariffs and export curbs late last week and flagged openness to a deal with Beijing. The resumption of the trade conflict between the two biggest oil users has introduced fresh...
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....