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 started the week with a fresh record high, ahead of President Donald Trump's expected latest tariff barrage that's heightened concerns of a global trade war. Bullion gained as much as 1.4% to $3,127.92 an ounce, beating the previous peak from Friday when it recorded a fourth weekly gain, with prices supported by growing haven demand amid a risk-off mood for markets. Trump last week signed a proclamation to slap a 25% tariff on auto imports, while traders also bracing for the White House's so-called reciprocal tariffs due Wednesday. Gold is up almost 19% this year...
Oil edged higher after Donald Trump suggested that the US could impose "secondary tariffs" on Russia, a top-three producer nation and major exporter to the world. On Sunday, NBC News reported Trump as saying he was "very angry" at Vladimir Putin and would consider "secondary tariffs" on Russia's oil exports. He later told told reporters on Air Force One that he didn't think the Russian president would "go back on his word," which appeared to take some of the edge off his earlier criticism. The price reaction to Trump's remarks may have been somewhat blunted by...
Gold prices surged above $3,100 per ounce on Monday to a record high, as worries about potential inflation due to U.S. tariffs set the safe-haven asset up for its strongest quarter since 1986. Bullion continued its remarkable rally that has already seen the metal gain around 18% so far this year. Spot gold jumped 1.1% to $3,117.43 per ounce by 0935 GMT, having hit a record $3,128.06 earlier. U.S. gold futures were up 1.1% to $3,149.60. Bullion rose more than 27% last year as several bullish factors, including a favourable monetary policy backdrop and robust central bank buying, combined...
Oil fluctuated as the market weighed Donald Trump's mixed remarks about the threat of fresh penalties on Russian crude if his counterpart Vladimir Putin refuses a ceasefire with Ukraine. Trump told reporters on Air Force One that he doesn't think Putin will "go back on his word," which appeared to take some of the edge off his criticism earlier Sunday, when NBC News reported him as saying he was "very angry" at the Russian president and would consider "secondary tariffs." Brent's June contract was little changed below $73 a barrel after a marginal gain at the open, while...
The Silver price (XAG/USD) attracts some buyers to around $34.35 during the early European session on Monday. Potential trade wars and ongoing geopolitical tensions boost the safe-haven flows, benefitting the white metal. Traders are worried ahead of a new round of reciprocal levies that the White House is due to announce on Wednesday. Trump said late Sunday that the administration is hurrying to determine the specifics of its new tariff agenda ahead of its self-imposed deadline of Wednesday, considering possibilities after promising to remake the American economy with a slew of new levies....
Gold started the week with a fresh record high, ahead of President Donald Trump's expected latest tariff barrage that's heightened concerns of a global trade war. Bullion gained as much as 0.8% to top $3,110 an ounce, beating the previous all-time high set on Friday when it recorded a fourth weekly gain, with prices supported by growing haven demand amid a risk-off mood for markets. Trump last week signed a proclamation to slap a 25% tariff on auto imports, while traders also bracing for the White House's so-called reciprocal tariffs due Wednesday. Gold is up about 18%...
The yen strengthens slightly against other G-10 and Asian currencies in the morning session amid risk-off sentiment spurred by looming U.S. tariffs. "We judge that President Trump's tariff regime will be more disruptive to the global economy than markets are currently pricing," say three members of CBA's Global Economic & Markets Research. Risks are tilted to a sharp decline in global equities and a weaker USD/JPY, the members say in a research report. USD/JPY could soon sustainably break below support at 148.13, they add. USD/JPY edges 0.2% lower to 149.56; risk-sensitive AUD/JPY is...
Oil steadied as investors weighed the fallout from President Donald Trump's threat of fresh penalties on Russian crude if a ceasefire with Ukraine could not be reached. Brent's June contract was little changed near $73 a barrel, while West Texas Intermediate was above $69. In comments reported by NBC News on Sunday, Trump said he was "very angry" with his counterpart Vladimir Putin and raised the prospect of secondary tariffs. The US president later told reporters on Air Force One that he wasn't implementing oil sanctions right now. Russia is one of the world's...
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....