Gold rose to a five-week high on Tuesday (July 22nd), driven by trade uncertainty and weakening US bond yields as investors continued to monitor US President Donald Trump's tariff deadline on August 1st. Spot gold prices rose 1% to $3,427.59 an ounce at 16:22 GMT, reaching their highest level since June 16th. US gold futures rose 1.2% to $3,442.50. The yield on the benchmark 10-year US Treasury note fell to a nearly two-week low, making non-yielding bullion more attractive. "Trade uncertainty is driving demand for safe-haven assets. The US is working on several trade deals, and there are...
EUR/USD plunged more than 1% to near 1.0240 at the start of the week. The major currency pair plunged as US President Donald Trump reiterated his threat to impose tariffs on the European Union (EU). Over the weekend, Donald Trump imposed 25% tariffs on Canada and Mexico and 10% on China. Trump also warned that he would also increase levies on the trading bloc, but he did not provide much information. "That will definitely happen with the European Union. I can tell you that because they have really taken advantage of us," Trump said. He also accused the old continent of not buying enough US...
Gold rose above $2,800 an ounce in February, holding near a record high amid a wave of monetary policy easing from major central banks as markets assess the impact of the ongoing trade war in North America and China on the global economy. The U.S. imposed 10% tariffs on China and 25% tariffs on Canada and Mexico, with concerns about lower growth weighing on the likelihood of an aggressive Fed reaction that limited the impact on rate-sensitive assets. However, markets are expecting the Fed to deliver two interest rate cuts this year. In turn, the Bank of Canada cut its key interest rate and...
Silver prices were steady at $31 an ounce on Monday, as the dollar surged following the imposition of new U.S. tariffs on major trading partners. Over the weekend, U.S. President Donald Trump imposed 25% tariffs on goods from Mexico and Canada and 10% levies on imports from China, prompting retaliatory measures from affected countries. Markets are now pricing in the rising risks of global trade disruptions, slower economic growth and resurgent inflation, along with expectations of fewer interest rate cuts from the U.S. Federal Reserve. In contrast, the Silver Institute recently forecast a...
Gold (XAU/USD) recovered most of its intraday losses and climbed back near the $2,800 mark during the first half of the European session on Monday (February 3). The safe-haven commodity remained within striking distance of its all-time peaks hit on Friday and continued to find support amid concerns about the potential economic impact of US President Donald Trump's trade tariffs. This, coupled with trade war concerns, dampened investors' appetite for riskier assets, acting as a tailwind for the safe-haven gold price. Further, speculation that Trump's protectionist policies will boost...
The Pound (GBP) is trading significantly lower near 1.2250 against the US Dollar (USD) during the European session on Monday (3/2). Earlier in the day, the GBP/USD pair gapped down at the open as US President Donald Trump's imposition of tariffs on Canada, Mexico and China sent global financial markets into panic mode, forcing investors to turn to safe-haven assets. The downbeat market sentiment has led to a sharp rise in the US Dollar (USD), which has been a strong performer in volatile environments. The US Dollar Index (DXY), which tracks the Greenback against a basket of six major...
Oil prices jumped on Monday after US President Donald Trump imposed tariffs on Canada, Mexico and China, raising concerns about disruptions to crude supplies from the two biggest suppliers to the US, but the prospect of lower fuel demand capped gains. U.S. West Texas Intermediate crude futures were at $73.89 a barrel, up $1.36, or 1.88%, by 0656 GMT, after hitting their highest since Jan. 24 at $75.18 a barrel earlier in the session. Brent crude futures rose 73 cents, or 0.96%, to $76.40 a barrel, after hitting a high of $77.34. Trump on Saturday ordered sweeping tariffs on goods from...
The US Dollar (USD) strengthened on the first trading day of February as markets cautiously responded to US President Donald Trump's tariff announcement. Later in the European session, January inflation data from the Eurozone will be closely watched by investors. In the second half of the day, the US economic calendar will feature the ISM Manufacturing PMI data for January. Meanwhile, market participants will be watching for headlines surrounding the Trump administration's trade policies. Trump announced on Saturday that they would impose tariffs of 25% on Mexican and Canadian imports and...
The USD/CHF pair extended its rally to near 0.9165 during early European trading hours on Monday (3/2). The US dollar (USD) surged after US President Donald Trump's massive tariffs triggered a trade war. The greenback strengthened by up to 0.60% against the Swiss franc (CHF), hitting a peak not seen since May 2024. The move came after Trump imposed 25% tariffs on imports from Mexico and Canada on Saturday, as well as new levies of 10% on Chinese products. However, the Wall Street Journal reported on Monday, citing unnamed sources, that the Chinese government is preparing an opening offer...
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....