Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more "noise" than signals of a short-term surplus. As of 3:50 PM WIB, Brent was at $69.60/barrel (+0.29%) and WTI was at $64.83/barrel (+0.31%). The gains were moderate, but enough to keep prices near the psychological $70 level for Brent. From a geopolitical perspective, market focus is on the potential for escalation in the Middle East. Recent reports...
Gold fell more than 2% on Thursday, easing from an all-time high, as a wider market selloff triggered by U.S. President Donald Trump's import tariffs infected bullion traders. Spot gold fell 1.1% to $3,098.73 as of 10:04 a.m. EDT (1404 GMT) after earlier scaling a record of $3,167.57. U.S. gold futures fell 1.4% to $3,121.90. Traders attributed the dip to some profit-taking and margin calls in other asset classes likely prompting investors selling some of their gold holdings to cover losses. "While the whole tariff imbroglio has weighed on the dollar and should be good for gold, but...
Gold dropped more than 3%, falling below $3,060 per ounce on Thursday after briefly reaching a record high above $3,160, following news that the White House would exempt precious metals, steel, aluminum, and other metals from President Trump's "reciprocal" tariffs. However, concerns about the tariffs' impact on global inflation and growth, combined with expectations of rate cuts, central bank purchases, and strong demand for gold-backed ETFs, helped limit the losses. On Wednesday, Trump announced a 10% baseline tariff on imports from all countries, with higher rates for key trade partners,...
The US dollar index tumbled about 2% to 101.8 on Thursday, marking its steepest single-day drop in over two years and hitting a six-month low, as traders reacted to President Trump's latest tariff announcement. On Wednesday, Trump unveiled a baseline 10% tariff on all imports, set to take effect on April 5, with around 60 countries facing even steeper levies—54% for China, 20% for the EU, and 46% for Vietnam. Both China and the EU have already pledged retaliation, fueling concerns over a potential US recession and rising inflationary pressures. In response, traders increased their bets on...
Oil prices dropped over 6% on Thursday, with WTI crude falling to $67 per barrel, after eight OPEC+ countries unexpectedly announced they would increase oil production by 411,000 barrels per day in May, far more than the planned 135,000 bpd. OPEC cited strong market fundamentals but said future increases could be paused if needed. Oil was already down over 4% after U.S. President Trump announced new tariffs, sparking fears of a global trade war that could slow economic growth and reduce fuel demand. While oil imports were exempt, investors worried the tariffs could still hurt the economy...
The AUD/USD pair moves higher and advances toward the two-week high of 0.6350 in Thursday's European session. The Aussie pair strengthens as the US Dollar (USD) faces an intense sell-off, with traders becoming increasingly confident that the new suite of tariffs by President Donald Trump will lead to a United States (US) recession in the near term. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, is down more than 2% to near 102.00. This is the highest one-day correction seen in years. On Wednesday, US President Trump unveiled his reciprocal...
Silver prices slid over 1% to dip below $33.50 per ounce on Thursday, reaching a one-week low as traders grappled with market uncertainties following US President Donald Trump's sweeping tariff measures. Trump imposed a 10% baseline tariff on all imports, with steeper levies targeting major trading partners such as China (34%), the EU (20%), and Japan (24%). Additionally, a 25% tariff on foreign-made automobiles took immediate effect. Defending the move, Trump framed the tariffs as a strategy to bolster domestic manufacturing and reduce trade deficits. While gold surged to a record high in...
The Pound Sterling (GBP) surges above 1.3100 against the US Dollar (USD) during the European trading hours on Thursday, the highest level seen in almost six months. The GBP/USD pair soars as the US Dollar plummets after United States (US) President Donald Trump unveils worse-than-expected tariffs for his trading partners. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, tumbles to near 102.70. US President Trump announced a 10% baseline duty on all products entering the US and additional specific levies on the majority of its trading allies, which...
Gold dipped on Thursday as traders locked in profits after prices hit a record high, following a rush to safe-haven assets triggered by U.S. President Donald Trump's aggressive import tariffs, which escalated the already intense global trade war. Spot gold was down 0.4% at $3,122.1, as of 0710 GMT. Earlier in the session, bullion hit an all-time high of $3,167.57. U.S. gold futures fell 0.7% to $3,145.00. Trump unveiled on Wednesday a 10% baseline tariff on all imports to the U.S., and higher duties on dozens of countries, including some of its biggest trading partners, deepening a trade...
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....