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 soared immediately after the Federal Reserve announced its interest rate decision. As soon as the FOMC minutes were released, gold, which had been moving cautiously since the beginning of the session, suddenly rose sharply as the market read signals that the era of high interest rates was nearing its end. Within minutes of the announcement, gold prices surged and held steady near their daily highs as new buying inflows from market participants. Generally speaking, the Fed did cut interest rates as expected, but what triggered the gold surge was Jerome Powell's statement, which...
Gold (XAU/USD) holds firm on Wednesday, with price action contained inside the recent consolidation zone as markets brace for the Federal Reserve's (Fed) interest rate decision. At the time of writing, XAU/USD is hovering near $4,204, down from the intraday high of $4,218. The Fed will announce its policy decision at 19:00 GMT, with markets leaning toward another 25 basis point cut that would lower the Federal Funds Rate to the 3.50%-3.75% range. Expectations for reduced borrowing costs keep Bullion broadly supported, as lower interest rates reduce the opportunity cost of holding...
Gold prices fell slightly on Wednesday (December 10th) as investors awaited expectations of a US Federal Reserve interest rate cut and hints about future policy, while silver extended its rally to a new high. Spot gold prices fell 0.4% to $4,193.60 per ounce at 11:13 GMT. US gold futures for February delivery fell 0.3% to $4,221.60 per ounce. Spot silver prices rose 0.7% to $61.11/ounce after hitting an all-time high of $61.61 earlier in the session, driven by rising industrial demand, declining inventories, and its designation as an essential mineral by the United States. The white metal...
Oil prices were steady on Wednesday (December 10) as investors monitored progress in Russia-Ukraine peace talks and awaited a decision on US interest rates. After a decline of about 1% in the previous session, Brent crude rose 7 cents, or 0.1%, to $62.01 a barrel at 10:39 GMT, while US West Texas Intermediate crude rose 10 cents, or 0.2%, to $58.35. Market sources citing API figures said on Tuesday that US crude inventories fell by 4.78 million barrels last week, while gasoline inventories rose by 7 million barrels and distillate inventories swelled by 1.03 million barrels. Government data...
Silver prices surged past $60 an ounce as traders factored in an imminent Fed rate cut and tightening supply conditions, reinforcing the precious metal's historical tendency to outperform gold during monetary policy easing cycles, ING commodity experts Ewa Manthey and Warren Patterson note. Fed rate cut expectations and tight supply drive silver's outperformance "Silver prices surged above $60 an ounce – a new record high – in Tuesday afternoon trading. This was driven by expectations that the Federal Reserve will cut interest rates this week and concerns over tightening supply....
The Bloomberg Dollar Index is flat after previously rising slightly by around 0.1%. This slight gain came after US Department of Labor data showed that job openings in October rose to a five-month high. Market participants are now adopting a wait-and-see approach ahead of the Fed's decision, while assessing the direction of interest rate policy next year. This Wednesday, the market expects the Fed to cut interest rates for the third consecutive time. However, the main focus is not just on whether to cut or not, but rather on the latest dot plot, economic projections, and Jerome Powell's...
Silver prices are strengthening after breaking through the $60 per ounce level for the first time. On Wednesday morning, silver briefly reached a record high of around $60.92 per ounce, continuing its 4.3% surge in the previous session. This rapid rise has led many market players to increasingly look to silver as a leading asset amidst sentiment regarding interest rate easing. From a fundamental perspective, silver's rally is largely supported by expectations that the Federal Reserve will cut its benchmark interest rate by another 0.25% at the conclusion of its December 9-10 meeting. Lower...
Japanese stocks are higher due to a weaker yen despite continued uncertainty over the U.S. interest rate outlook next year. Auto, brokerage and metals stocks are leading gains. Honda Motor is up 4.8%, Nomura Holdings is 2.4% higher and Mitsui Kinzoku is up 5.4%. USD/JPY is at 156.81, up from 156.08 as of Tuesday's Tokyo stock market close. Investors are closely watching any progress in Prime Minister Sanae Takaichi's measures to support the economy ahead of the Bank of Japan's policy meeting next week. The Nikkei Stock Average is up 0.9% at 51106.23. Source: Bloomberg
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....