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 US dollar weakened in today's trading, after strengthening in previous sessions, supported by rising US bond yields. The weakening greenback has caused investors to reduce their safe-haven dollar positions and gradually shift to other assets offering more attractive yields. Market sentiment is also influenced by speculation that the Fed could take greater policy easing steps if future economic data shows a clearer slowdown. The decline in the dollar index provides breathing space for other currencies, particularly in Asia, which have strengthened or at least stabilized compared to the...
Oil steadied after the biggest drop in almost three weeks, as traders look to reports this week to assess the extent of the glut. Brent crude traded above $62 a barrel after tumbling 2% on Monday, while West Texas Intermediate was near $59. The Energy Information Administration is set to release its Short-Term Energy Outlook on Tuesday, with reports due from the International Energy Agency and OPEC later this week. The IEA has predicted a record surplus next year, and traders will be on the lookout for any changes to market outlooks. Crude has traded in a tight $4-a-barrel...
Oil prices are stabilizing after previously recording their biggest daily decline in nearly three weeks, as market participants await the latest data on a potential supply glut. West Texas Intermediate (WTI) held near $59 per barrel after falling about 2% on Monday, while Brent remained above $62 per barrel. The market is currently in a "wait-and-see" mode ahead of a series of important reports this week. In the coming days, the spotlight will be on reports from three major agencies. The US Energy Information Administration (EIA) will release its short-term energy outlook on Tuesday...
Gold held steady as market participants began to focus on the Fed's policy direction for next year, rather than just the near-certain interest rate cut. Bullion traded around $4,193 per ounce, after closing slightly lower in the previous session. Meanwhile, US Treasury yields rose on Monday, ahead of a series of auctions and the Federal Reserve's interest rate decision on Wednesday, which could shape market expectations through 2026. In the money market, swap traders still expect a quarter-point interest rate cut by the Fed. However, they now tend to see only two additional cuts by the end...
Oil prices slipped 2% on Monday after Iraq restored production at one of its oilfields which accounts for 0.5% of world oil supply, while investors weighed ongoing talks to end the war in Ukraine. Brent crude futures were down $1.26, or 1.98%, at $62.49 a barrel, while U.S. West Texas Intermediate crude was at $58.88, down $1.20, or 2%. Iraq restored production at Lukoil's West Qurna 2 oilfield, one of the world's largest, after a leak on an export pipeline slashed its output, two Iraqi energy officials told Reuters on Monday. Prices had marginally pared losses earlier after sources told...
Oil prices fell on Monday as investors monitored ongoing talks to end the war in Ukraine and ahead of an expected U.S. Federal Reserve interest rate cut this week. Brent crude futures fell by 56 cents, or 0.9%, to $63.18 a barrel by 1348 GMT, while U.S. West Texas Intermediate crude was at $59.51, down 57 cents, or 1%. Prices marginally pared losses after sources on Monday told Reuters that Iraq shut down the entire oil production at Lukoil's West Qurna 2 field of around 460,000 barrels per day due to a leak on an export pipeline. Both contracts closed Friday's trading session at their...
Gold (XAU/USD) kicks off the week on a quiet note, with traders reluctant to take fresh positions ahead of the Federal Reserve's (Fed) interest rate decision on Wednesday. At the time of writing, XAU/USD is trading around $4,190, easing after rising to an intraday high of $4,219. Attention remains squarely on the Fed's monetary policy meeting, with markets gearing up for another interest rate cut at the final policy decision of 2025, which would bring the Federal Funds Rate down to the 3.50%-3.75% range. However, the latest Personal Consumption Expenditures (PCE) data and mixed labour...
Silver held near its all-time high at the start of a week in which the Federal Reserve is widely expected to cut interest rates. Gold edged higher. The white metal stabilized after falling as much as 1.4% in Asian trading on Monday. It is less than a dollar shy of the record high of $59.3336 per ounce reached in the last session. Last week was the best since July for inflows into silver-backed exchange-traded funds (ETFs), with nearly 590 tonnes added, signaling investor confidence that the rally has more to go. For most of last week, silver's 14-day relative strength index (RSI)...
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....