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...
The USD/CHF pair attracted some buyers around 0.8810 during the early European session on Tuesday. A broadly stronger US Dollar (USD) extended some support to the pair. Federal Reserve (Fed) officials Christopher Waller, Thomas Barkin, Neel Kashkari, and Patrick Harker are due to speak later in the day. The US Consumer Price Index (CPI), and Producer Price Index (PPI) will be in the spotlight on Wednesday. Trump's proposed policies including tax cuts, trade tariffs, and deficit spending could trigger a fresh wave of inflation and could force the US Fed to slow down the pace of interest rate...
Gold (XAU/USD) prices, after posting their sharpest weekly decline in over five months, fell over 2% on Monday and fell to the lowest level since October 10 amid strong US Dollar (USD) buying. Traders are anticipating a cautious approach from the Federal Reserve (Fed) amid hopes that US President-elect Donald Trump's policies will boost economic growth and inflation. This, in turn, remained supportive of a pickup in the US Treasury bond yields, which pushed the USD to its highest in over four months and weighed heavily on the non-yielding yellow metal. The downward trajectory, however,...
Oil prices were flat in Asian trade on Tuesday after logging steep losses in the prior session as more stimulus measures in China underwhelmed, while focus also remained on U.S. supplies. Crude prices tumbled on Monday as China's plans for more fiscal spending left investors wanting, while inflation data from the world's biggest oil importer also disappointed. In the U.S., tropical storm Rafael was seen largely dissipating in the Gulf of Mexico, soothing any fears of supply disruptions in the region. Brent oil futures expiring in January rose 0.2% to $71.95 a barrel, while West Texas...
Silver (XAG/USD) prices fell for the third straight day, trading around $30.60 per troy ounce during the Asian session on Tuesday (12/11). The precious metals sector, including Silver, faced pressure due to reduced demand for safe-haven assets. Traders are increasingly turning to riskier assets as markets assess the potential impact of US President-elect Trump's fiscal policy and monetary strategy. The possibility of tariffs being implemented early in Trump's term could lead to inflation, which in turn could cause the Federal Reserve (Fed) to delay its expected easing measures in the coming...
The Japanese Yen (JPY) fell again in Asia to levels below 154.00 against the US currency, although there was no follow-through buying amid uncertainty over the Bank of Japan's (BOJ) rate hike plans. Japan's fragile minority government is expected to make it difficult for the BOJ to tighten its monetary policy. Moreover, the BOJ's Summary of Opinions from its October meeting revealed that policymakers were divided on whether to raise interest rates again. This, coupled with concerns over President-elect Donald Trump's tariffs returning, supported the JPY. Meanwhile, Trump's expansionary...
The Australian dollar depreciated past $0.656 on Tuesday(12/11), sliding toward its weakest levels in three months as the greenback continued to dominate on expectations that US economic outperformance and aggressive trade practices under a Trump presidency could drive up inflation. Additionally, weak economic data and a disappointing stimulus package from China, a key trading partner, added further pressure. The Australian dollar is often seen as a liquid proxy for the Chinese yuan, and its decline reflects ongoing concerns about China's economic outlook. Domestically, Australia's consumer...
West Texas Intermediate (WTI), the US crude oil benchmark, was trading around $68.00 on Tuesday (11/12). WTI prices moved lower amid concerns that the Trump administration will trigger a tariff-led trade war and concerns about demand growth in China. Donald Trump's victory in the US presidential election may continue to affect WTI prices. Trump has announced his intention to impose blanket tariffs ranging from 10% to 20% on all imports and additional tariffs on up to 60% of products imported from China. A renewed trade war with China is also likely to hurt economic growth in China, delaying...
Bullion prices were steady after falling 2.5% in the previous session. The dollar gauge rose to its highest in a year, with markets expecting more gains related to Trump's trade tariffs and solid U.S. economic growth. A stronger dollar makes commodities priced in the currency more expensive for most buyers. The precious metal has fallen more than 4% since last week's election, as hedge funds unwound bullish bets and exchange-traded fund flows became less supportive amid a broad rotation into U.S. equities. The selling was also "partly technical" after a break below its 50-day moving average...
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....