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 concern of a global trade war. Bullion edged higher to top $3,093 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. Trump last week signed a proclamation to slap a 25% tariff on auto imports, while markets are also bracing for the White House's so-called reciprocal tariffs due Wednesday. Gold is up about 17% this year in a run that's seen it...
Gold clings to daily gains and trades near the record-high it set above $3,080 earlier in the day. Although the data from the US showed that core PCE inflation rose at a stronger pace than expected in February, it failed to boost the USD.The anti-risk flow is evident from a generally weaker tone around the equity markets, which, in turn, is seen driving safe-haven flows toward the precious metal. The global risk sentiment continues to be undermined by worries over US President Donald Trump's auto tariffs announced on Wednesday, the uncertainty about impending reciprocal tariffs next week,...
Oil prices were set for a third weekly gain on Friday as the U.S. ramped up pressure on Venezuela and Iran, though worries over whether Washington's tariff war could curb demand weighed on markets. Brent crude futures were flat at $74.03 a barrel at 1235 GMT and U.S. West Texas Intermediate crude futures were up 1 cent at $69.93 a barrel. Both contracts have gained about 2.5% so far this week, and have risen around 7% since hitting multi-month lows in early March. The main driver of the price rally has been the shifting landscape of global oil sanctions, BMI analysts wrote in a market...
Gold rose to a record amid concerns about a widening trade war after President Donald Trump pushed ahead with US tariffs on all auto imports. Bullion gained as much as 0.9% on Friday to top $3,085 an ounce, beating the previous record set a day earlier. It was on track for a fourth weekly gain, with prices supported by growing haven demand. Trump on Thursday signed a proclamation to slap a 25% tariff on auto imports and pledged harsher punishment on Europe and Canada if they join forces "to do economic harm" to the US. Markets are also bracing for a fresh wave of trade...
The US dollar rose against its major trading partners early Friday, except for a decline versus the yen, before the release of personal income, spending and price data for February at 8:30 am ET. The final University of Michigan consumer sentiment reading for March is due to be released at 10:00 am ET at the same time as state unemployment data for February. The Kansas City Federal Reserve's services reading for March follows at 11:00 am ET and updates to the Atlanta and St. Louis Fed's gross domestic product growth Nowcast estimates are due around midday. Fed Governor Michael Barr is...
Oil prices retreated on Friday amid tariff-related demand concerns, but headed for a third weekly gain on a tightening global supply outlook after the U.S. placed more pressure on Venezuelan and Iranian oil trade. Brent crude futures lost 31 cents, or 0.4%, at $73.72 a barrel at 0742 GMT, falling for the first time after daily gains of seven consecutive sessions. U.S. West Texas Intermediate crude futures were down 33 cents, or 0.5%, to $69.59 a barrel. The downward corrections mirrored broader risk assets sell-offs on Friday, as the latest tariff salvo from U.S. President Donald Trump...
Gold price (XAU/USD) retains its bullish bias through the first half of the European session on Friday and touches a fresh all-time peak, around the $3,086 region in the last hour. The global risk sentiment continues to be undermined by worries over US President Donald Trump's auto tariffs announced on Wednesday, the uncertainty about impending reciprocal tariffs next week, and their effect on the global economy. The anti-risk flow is evident from a generally weaker tone around the equity markets, which, in turn, is seen driving safe-haven flows toward the precious metal. Furthermore,...
The USD/CHF pair traded in the positive territory near 0.8825 during the early European session on Friday (3/28). The greenback moved higher as traders assessed how severe the tariffs scheduled to be announced by US President Donald Trump next week are likely to impact the global economy. The US Personal Consumption Expenditures (PCE) data for February will be in focus on Friday. Growing optimism that Trump will be flexible on tariffs could boost risk sentiment and the US Dollar (USD). Trump said on Monday that auto tariffs would be implemented soon, but not all threatened duties will be...
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....