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...
Silver (XAG/USD) price fell near $30.90 during the early European trading hours on Monday (03/1). Growing fears of a global trade war following US President Donald Trump's massive tariff measures boosted the US Dollar (USD) across the board and exerted selling pressure on the white metal. According to the 4-hour chart, the bullish outlook for the white metal remains intact, with the price holding above the key 100-period Exponential Moving Average (EMA). However, the Relative Strength Index (RSI) is hovering around the midline, suggesting that further consolidation cannot be ruled out. The...
The Australian Dollar (AUD) extends its losing streak against the US Dollar (USD) for the sixth consecutive session on Monday. The AUD/USD pair dropped around 2% amid risk-off sentiment following US President Donald Trump's decision to impose import tariffs on China, one of Australia's key trading partners. On Saturday, the US announced plans to implement 25% tariffs on Canadian and Mexican goods, while Chinese exports would face a 10% tariff, according to Bloomberg. These tariffs, set to take effect on Tuesday, will remain in place until the fentanyl overdose crisis is "resolved." In...
Gold price (XAU/USD) trims a part of its heavy Asian session losses and currently trades around the $2,785 region, still down nearly 0.60% for the day. US President Donald Trump's decision to impose tariffs on Canada, Mexico, and China lifts the US Dollar (USD) back closer to over a two-year high. This turns out to be a key factor that drags the commodity away from the all-time peak, around the $2,717 region touched on Friday. That said, bets that the Federal Reserve (Fed) will lower borrowing costs twice by the end of 2025, along with concerns about the potential economic fallout from...
The dollar index surged over 1% to around 109.8 on Monday, approaching two-year highs after President Donald Trump imposed sweeping tariffs on key trading partners over the weekend, raising concerns about a potential resurgence in inflation. The US introduced 25% tariffs on goods from Mexico and Canada and a 10% levy on imports from China. In retaliation, Canada announced its own tariffs, Mexico indicated it would explore levies on US imports, and China stated it would file a lawsuit with the WTO. In response to the tariff news, traders scaled back their bets on Federal Reserve interest...
The Japanese Yen (JPY) drifts lower against its American counterpart for the second straight day on Monday and moves away from over a one-month high touched last week. Concerns about the economic fallout from US President Donald Trump's trade tariffs to a large extent, overshadow the hawkish Bank of Japan (BoJ) Summary of Opinions and undermine the JPY. Apart from this, a broad-based US Dollar (USD) rally pushes the USD/JPY pair to the 156.00 neighborhood, or a four-day top during the Asian session. Meanwhile, a rise in Tokyo's core inflation by the fastest annual pace in nearly a year...
The EUR/USD pair attracts heavy follow-through selling on Monday and dives to the 1.0200 neighborhood, or a three-week low during the early Asian session. Spot prices have now moved back closer to over a two-year low touched in January and seem vulnerable to prolonging a multi-month-old downtrend. The US Dollar (USD) surges across the board in reaction to US President Donald Trump's decision over the weekend to impose 25% duties against Canada and Mexico, and an additional 10% duty on China. This marks the start of a new global trade war and tempers investors' appetite for riskier assets....
Oil prices jumped at the market open on Monday after U.S. President Donald Trump imposes tariffs on Canada, Mexico and China, raising fears of a trade war and disruption in crude supply from two of the United States' biggest suppliers. U.S. West Texas Intermediate crude was at $74.27 a barrel, up $1.74, or 2.4%, by 2319 GMT, after hitting more than a week's high at $75.18 a barrel earlier in the session. Brent crude futures rose 73 cents, or 1%, to $76.40 a barrel. Trump on Saturday ordered sweeping tariffs on goods from Mexico, Canada and China, kicking off a trade war that could dent...
Gold price (XAU/USD) edges lower to around $2,795 during the early Asian session on Monday. The yellow metal faces some pressure from the stronger Greenback after US President Donald Trump set tariffs over the weekend. On Saturday, Canada was notified that the United States will place 25% tariffs on Canada and Mexico while China will be hit with 10% tariffs. Canadian energy will be tariffed at 10%, according to CTV. The tariffs will take effect on Tuesday. Canada, Mexico and China have vowed to respond to sweeping new tariffs on their exports to the US announced by Trump. This, in...
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....