Gold (XAU/USD) started the week on a stronger note, extending its five-day rally to reach its highest level in more than four months, last seen on April 22. A generally weaker US dollar and strong expectations for a Federal Reserve (Fed) interest rate cut in September continued to support gold's momentum. At the time of writing, XAU/USD was consolidating around $3,477 in the American session, after hitting an intraday high of $3,490 during Asian hours—just shy of its all-time peak of $3,500. Mild technical selling and stable US Treasury yields weighed on sentiment, while trading...
Gold price tumbles on Tuesday as the Greenback extends its minimal gains for the second straight day, while geopolitical developments suggest that a positive outcome of the US President Trump meeting with Putin, Zelenskiy and European leaders could put an end to the ongoing war. XAU/USD is trading at $3,317. Rumors of a possible de-escalation of the Ukraine–Russia conflict weighed on Bullion prices, which usually benefit from global uncertainty. Last Friday, the meeting between US President Donald Trump and his Russian counterpart, Vladimir Putin, prepared the ground for a possible...
Oil prices fell on Tuesday as traders bet that talks over a possible agreement to legitimize or end Russia's invasion of Ukraine could ease sanctions on Russian crude oil, boosting global supply. Brent crude futures settled at $65.79 a barrel, down 81 cents, or 1.22%. U.S. West Texas Intermediate crude futures for September delivery, set to expire on Wednesday, finished at $62.35 a barrel, down $1.07, or 1.69%. "Even with this peace dividend, we have a record short position," said Phil Flynn, senior analyst with Price Futures Group. "Because of the size of the short position, people are...
The dollar was mixed on Tuesday as traders awaited the Federal Reserve's Jackson Hole Economic Policy Symposium later this week for further clues on U.S. interest rate policy. A speech on Friday by Fed Chair Jerome Powell is this week's main focus, with little major economic data to drive market direction. Traders are tuned into whether Powell will push back against market pricing of a rate cut in September. Traders ramped up bets on a rate cut at the Fed's September 16-17 meeting after a weak July jobs report, and as last month's consumer price inflation report showed limited upward...
Gold (XAU/USD) edges lower during the American session on Tuesday, pressured by a firmer US Dollar and improved risk sentiment. The metal is trading near $3,320, close to the 12-day low marked during early Asian trade. Earlier in the day, Gold had briefly rebounded from overnight weakness following Monday's White House summit between US President Donald Trump, Ukrainian President Volodymyr Zelenskyy, and key European leaders. While the talks signaled diplomatic unity, the lack of a ceasefire continues to keep geopolitical uncertainty elevated, providing some underlying support to safe-haven...
Gold prices (XAU/USD) briefly strengthened on Tuesday (August 19th), but weakened again in the American trading session as the US dollar strengthened. Previously, gold had recovered from overnight losses following a White House meeting between US President Donald Trump, Ukrainian President Volodymyr Zelenskyy, and several European leaders. Although the meeting demonstrated diplomatic coordination, the lack of a ceasefire agreement has kept geopolitical uncertainty high, thus maintaining demand for safe-haven assets. At the time of writing, gold was trading around $3,335 per ounce, down from...
Oil prices fell as traders weighed the prospect of a ceasefire in Ukraine, with President Donald Trump pushing for a summit between Vladimir Putin and Volodymyr Zelenskiy after a series of high-level talks. Brent oil prices fell below $66 a barrel, remaining within a narrow range they have held for the past two weeks. Any peace deal could eventually pave the way for easing restrictions on Russian crude exports, although Moscow has largely maintained its oil supplies since the conflict began. Trump called the Russian president and urged him to begin working on plans for a one-on-one meeting...
Gold strengthened as traders monitored US-led efforts to end the war in Ukraine and counted down to the Federal Reserve's annual meeting in Jackson Hole, which may yield hints about a possible interest rate cut. Spot gold prices edged up to $3,345 an ounce, after ending nearly flat on Monday. Fed Chairman Jerome Powell is scheduled to deliver a keynote address at a meeting of central bankers on Friday, and his remarks could reinforce widespread investor expectations for looser monetary policy. Lower borrowing costs typically benefit precious metals, a non-yielding asset. Meanwhile, the US...
Gold prices edged higher on Tuesday (August 19th), boosted by a weaker dollar amid prospects for a US interest rate cut, while investors awaited the Fed Chair's speech in Jackson Hole later this week. Spot gold rose 0.2% to $3,336.88 per ounce at 08:14 GMT. US gold futures for December delivery rose 0.1% to $3,381.20. The dollar index fell 0.1% against a basket of major currencies, making gold cheaper for holders of other currencies. "Gold has been in a tight range for the past few weeks, pulled in various directions amid the ebb and flow of trade tensions, efforts to secure a...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
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....