Gold prices rose on Friday and were set for a fourth consecutive weekly gain, as mounting concerns over a weakening U.S. labour market eclipsed inflation worries ahead of a widely expected Federal Reserve rate cut next week. Spot gold was up 0.6% at $3,654.37 per ounce, as of 0211 GMT. The contract hovered near a record high of $3,673.95 touched on Tuesday. Bullion has gained 1.9% so far this week. U.S. gold futures for December delivery were up 0.5% at $3,692.80. "Now the market is looking for a high chance of at least three interest rate cuts before 2025 ends, which is much more than...
WTI crude oil futures fell to $70.2 per barrel on Tuesday, remaining near yearly lows due to uncertainty over future demand and a lack of new economic signals from China. Looking ahead, oil prices may remain subdued until mid-March, when China is expected to announce new stimulus policies and a 2025 growth target. Meanwhile, US President Trump confirmed that tariffs on Canadian and Mexican imports will begin on March 4, which could weigh on global oil demand. However, fresh US sanctions on Iran—targeting oil brokers, shipping firms, and Iran's state oil company—raise concerns about tighter...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades almost flat around 106.70 at the time of writing on Tuesday while other asset classes are facing big moves. Investors are piling into safe-haven bonds, with US yields dropping lower. Meanwhile, equities are going down with negative performances in all major indices across Asia and Europe, also including US futures. The rout comes after the US President Donald Trump administration gave more details on its plan to toughen semiconductor restrictions over China. In addition, the...
Gold's price (XAU/USD) hit a new all-time high on Monday at $2,956, though traders were unable to enjoy it for long. The precious metal trades at around $2,940 at the time of writing on Tuesday, while US President Donald Trump's administration plans to impose more limitations on China's technological developments. A tougher stance on semiconductor restrictions and pressuring other allies to corner China is part of that strategy. The news creates a negative tone in markets this Tuesday. Traders are fleeing into bonds as a safe haven, which is pressuring yields for more downside...
Silver prices fell towards $32.2 per ounce, extending their decline from the over three-month high of $33.39 reached on February 14th, amid ongoing uncertainty over demand, driven by concerns about US tariff policy. Investors also awaited key economic data and events due later this week. Markets are particularly focused on Friday's release of the January PCE Price Index, the Federal Reserve's preferred inflation measure. Projections indicate a 0.3% month-over-month increase in PCE prices, with annual gains of 2.4% for the headline index and 2.6% for the core index. Additionally, speeches...
A gauge of the dollar stayed in a narrow range amid US President Donald Trump's decision to proceed with tariffs on Canada and Mexico as well as his administration's plans to add restrictions on China's chip sector. The Bloomberg Dollar Spot Index was little changed. Euro inched up 0.1% to 1.0476 as Germany's chancellor-in-waiting Friedrich Merz is said to have opened talks with the Social Democrats to quickly approve as much as €200 billion ($210 billion) in special defense spending Treasury yields eased across the curve, with the 10-year yield down two basis points to...
Gold price (XAU/USD) maintains its offered tone through the early European session on Tuesday and currently trades around the $2,935 region, down 0.50% for the day. The intraday pullback from the all-time peak lacks any obvious fundamental catalyst and could be attributed to some profit-taking amid slightly overstretched conditions on the daily chart. That said, a combination of factors might hold back traders from placing aggressive bearish bets around the precious metal. Investors remain worried about the potential economic fallout from US President Donald Trump's protectionist trade...
Oil prices rose for a second day on Tuesday as fresh U.S. sanctions imposed on Middle Eastern producer Iran increased concerns supply might tighten and as global refining margins remained strong. Brent crude futures rose 38 cents, or 0.5%, to $75.16 a barrel by 0401 GMT. U.S. West Texas Intermediate crude futures gained 47 cents, or 0.7%, to $71.17 a barrel. Both contracts gained in Monday's session after a $2 drop last Friday. "In the short term, I continue to think crude oil is looking for a base. The fresh U.S. sanctions announced on Iran overnight will likely assist with this as will...
USD/CHF remains under pressure for the fourth consecutive session, hovering around 0.8970 during Asian trading hours on Tuesday. The pair's decline is driven by a weaker US Dollar (USD), weighed down by disappointing US economic data, including last week's Jobless Claims and the S&P Global Purchasing Managers' Index (PMI). Traders continued evaluating the interest rate outlook, with the Federal Reserve (Fed) expected to maintain its current stance for an extended period, amid ongoing uncertainty about President Trump's economic policies.USD/CHF remains under pressure for the fourth...
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....