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 were largely unchanged on Thursday as rising US Treasury yields offset support from a weaker dollar, while the market awaited Friday's US inflation data for clues on the Federal Reserve's policy outlook ahead of its December meeting. Spot gold fell 0.2% to $4,195.69 an ounce, as of 15:05 GMT. US gold futures for February delivery fell 0.2% to $4,224.10 an ounce. "Higher yields are capping some upside (for gold), and the dollar index is generally providing some support," said Marex analyst Edward Meir. The benchmark 10-year US Treasury yield rose 0.8%, while the US dollar index...
Silver fell from its all-time high, as traders took profits after an eight-day rally deemed too fast and too far. Gold was little changed. The white metal fell as much as 3.4% after the latest US jobs data did little to dent bets on interest rate cuts next week. Applications for unemployment benefits hit their lowest level in more than three years, indicating that companies are retaining workers despite the recent wave of layoffs. Lower interest rates should theoretically boost precious metals, including silver and gold, as they don't pay interest. However, silver's rapid rise to an...
Gold (XAU/USD) holds steady on Thursday, moving quietly within the $4,160-$4,260 range as investors adopt a wait-and-see approach ahead of the Federal Reserve's (Fed) monetary policy meeting next week. At the time of writing, XAU/USD is trading around $4,200, with the cautious market backdrop keeping the metal in a consolidative phase after it climbed to a six-week high earlier this week. Markets largely expect the Fed to lower interest rates at the December 9-10 meeting. That conviction firmed after Tuesday's US economic data showed a surprise decline in ADP Employment Change,...
The U.S. dollar steadied Thursday, but remains weak after recent lackluster economic data largely cemented the case for a rate cut from the Federal Reserve next week. The Dollar Index, which tracks the greenback against a basket of six other currencies, traded largely unchanged at 98.805, near a five-week low and almost 9% lower so far this year. Fed meeting looms largeWeak U.S. economic data has bolstered expectations for a Fed rate cut next week, weighing heavily on the U.S. currency. "After yesterday's 32k drop in ADP payrolls, a Fed cut next week looks even closer to a certainty,"...
Oil prices firmed on Thursday after Ukrainian attacks on Russia's oil infrastructure signalled potential supply constraints, and stalled peace talks tempered expectations of a deal restoring Russian oil flows to global markets, though weak fundamentals kept gains limited. Brent crude rose 41 cents, or 0.65%, to $63.08 at 0659 GMT, while U.S. West Texas Intermediate rose 45 cents, or 0.76%, to $59.40. Ukraine hit the Druzhba oil pipeline in Russia's central Tambov region, a Ukrainian military intelligence source said on Wednesday, the fifth attack on the pipeline that sends Russian oil to...
Silver prices corrected after hitting a new record high. In Asian trading (Singapore), silver fell as much as 2.4% to around $57.09 per ounce, before settling around $57.43. Despite the correction, the price remains less than $2 from its previous record of $58.97. This correction occurred due to profit-taking by traders following the sharp rally in recent days, as well as a slight strengthening of the US dollar index of around 0.1%, making the precious metal slightly more expensive for non-dollar buyers. In terms of the broader trend, silver is actually still in a very strong upward phase....
Gold prices fell suddenly during the Asian trading session on Thursday (December 4), after previously holding firm above the $4,200 per troy ounce area. This movement reflected a brief correction rather than a major trend change, as gold was still trading within that upper range. Market participants took advantage of the sharp rally in recent days to secure short-term profits. The main selling pressure came from profit-taking after gold approached new highs around $4,240–$4,250 and failed to break through. Amid relatively thin liquidity during the Asian session, this modest selling was...
Gold prices edged higher and held around $4,210 per troy ounce in early Asian trading on Thursday morning. This increase occurred amid sentiment that the Federal Reserve (The Fed) is likely to cut interest rates at its meeting next week. Although the increase was not significant, gold's ability to hold above the $4,200 level indicates that buying interest remains strong. The main trigger for gold's rally came from weaker-than-expected US private sector employment data. The ADP report showed that US private payrolls fell by 32,000 in November, reversing from the 47,000 increase in the...
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....