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...
Gold hits new 2025 highs amid rising investor anxiety from Trump's trade rhetoric.Despite a rise in the US Dollar Index, Gold's ascent signals strong safe-haven demand.Geopolitical tensions in the Middle East escalate, alongside potential US economic measures against Russia. Gold price advances over 0.39% late in the North American session, with the precious metal climbing decisively above the psychological $2,650 figure with buyers setting their sights at the record high of $2,790. At the time of writing, the XAU/SD trades at $2,755 after bouncing off daily lows of $2,741. The...
AUD/USD rises to a new monthly high just below 0.6300, helped by signs that United States (US) tariffs on China may not be as harsh as initially feared. Meanwhile, the US Dollar (USD) recovers slightly from multi-day lows, reflecting ongoing uncertainty regarding future US trade policies. Market participants look forward to the upcoming flash S&P Global PMI numbers for January to gauge broader economic sentimentAussie extends gains while markets await fresh driversThe amount of China-specific tariffs proposed under Donald Trump's revised plan appears significantly smaller than originally...
The USD/CHF pair moved higher near 0.9060 in the North American session on Wednesday (1/22). The Swiss franc pair recovered intraday losses and edged higher as Swiss National Bank (SNB) Chairman Martin Schlegel has opened the door to negative interest rates. Schlegel said in an interview with Bloomberg TV at the World Economic Forum (WEF) in Davos that the SNB "doesn't like negative interest rates" but if we have to do it, "we will do it." His ultra-dovish monetary policy stance is supported by the risk of inflation rising beyond the SNB's target range. Schlegel added, "We are ready to...
Gold prices edged up to an 11-week high in Asian trading on Wednesday, extending gains for a third straight session as safe-haven demand increased amid concerns about U.S. tariffs under President Donald Trump. Spot gold rose 0.2% to $2,749.29 an ounce, its highest since early November, while February gold futures rose 0.2% to $2,766.57 an ounce by 1:45 p.m. ET (06:45 GMT). The metal was set for a third straight day of gains, as traders remained cautious as they tried to gauge Trump's policies, which are expected to boost inflation. Gold is seen as a hedge against inflation. The dollar had...
Oil prices fell on Wednesday, extending the previous session's decline as markets digested U.S. President Donald Trump's declaration of a national energy emergency on his first day in office and eyed his tariff policies. Brent crude futures fell 36 cents, or 0.5%, to $78.93 a barrel by 0730 GMT. U.S. West Texas Intermediate crude futures fell 46 cents, or 0.6%, to $75.37. Crude prices closed lower on Tuesday after Trump laid out a sweeping plan to boost oil and gas production, including declaring a national energy emergency to speed up permitting, roll back environmental protections and...
The pound (GBP) weakened against the US dollar (USD) in London on Wednesday (22/1) but held on to Tuesday's gains above the key support level of 1.2300. The GBP/USD pair weakened slightly as the US dollar recovered slightly, with the US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, edging higher from a two-week low of 107.90. However, the greenback could face selling pressure as its safe-haven demand has waned. The safe-haven appeal of the USD has waned as the tariff plans unveiled by the US administration of President Donald Trump were not as...
The Australian Dollar (AUD) remained weak against the US Dollar (USD) on Wednesday (1/22). The AUD/USD pair faced challenges as US President Donald Trump announced that his administration is considering imposing a 10% tariff on Chinese imports starting February 1. The move is reportedly related to concerns over fentanyl shipments from China to Mexico and Canada, according to Reuters. Trump said earlier, "If we make a TikTok deal and China doesn't agree to it, we could probably put tariffs on China." The comments followed the signing of an executive order that delayed the TikTok ban for 75...
The USD/CHF pair rebounded to around 0.9070, ending a two-day losing streak during early European trading hours on Wednesday (1/22). The pair's gains were supported by a generally stronger US Dollar (USD) after US President Donald Trump said on Tuesday that he would impose tariffs and duties on trading partners. On Tuesday evening, Trump said that his team was discussing 25% tariffs on Canada and Mexico, as well as duties on China and the European Union. Trump added that the measures could come into effect as early as February 1. "We're talking about a 10% tariff on China based on the fact...
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....