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...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is currently flat to marginally lower after paring back earlier gains at 104.40 at the time of writing on Thursday. The DXY edged higher overnight on the back of tariff comments from United States (US) President Donald Trump. An additional 25% levy on all auto imports was issued to come into effect on April 3 and countries such as Canada and the European Union were threatened with more tariffs if they look to team up in their response to the US. On the economic data front, all...
Silver prices rose above $33.70 per ounce on Thursday, extending weekly gains to over 2% as escalating global trade tensions fueled demand for safe-haven assets. On Wednesday, President Donald Trump announced a 25% tariff on all imported cars and light trucks, set to take effect on April 2, alongside reciprocal tariffs on countries imposing levies on US goods—measures he vowed to maintain throughout his second term. The tariffs raised fears of retaliation, adding pressure on US economic growth while potentially reigniting inflation. Meanwhile, expectations of further Federal Reserve rate...
Oil prices edged lower on Thursday as markets weighed the impact of U.S. President Donald Trump's auto tariffs at a time when concerns swirled about global supply due to U.S. tariff threats on buyers of Venezuelan oil and sanctions on Iran's oil clients. Brent crude futures fell 22 cents, or 0.3%, to $73.57 a barrel by 0733 GMT. U.S. West Texas Intermediate crude futures slipped 23 cents, or 0.3%, to $69.42. Both benchmarks were initially up in early Asian trade. On Wednesday, oil prices rose by around 1% on government data showing U.S. crude oil and fuel inventories fell last week, and on...
Gold prices rose on Thursday as U.S. auto tariffs escalated global trade tensions ahead of an April 2 deadline for reciprocal tariffs from the world's largest economies. Spot gold was up 0.5% at $3,033.20 an ounce, as of 0535 GMT. U.S. gold futures were up 0.6% at $3,039.00. U.S. President Donald Trump on Wednesday announced a 25% tariff on imported cars and light trucks starting next week, widening a global trade war. Investors are concerned that Trump's retaliatory tariffs, expected to take effect on April 2, could stoke inflation, slow economic growth and escalate trade tensions....
The Japanese Yen (JPY) maintained its positive bias through the Asian session on Thursday (3/27), which, along with a broadly weaker US Dollar (USD), kept the USD/JPY pair pressured above the psychological 150.00 level. Concerns about the potential economic impact of US President Donald Trump's trade tariffs dampened investors' appetite for riskier assets. Additionally, hawkish sentiment surrounding the Bank of Japan's (BOJ) policy outlook, supported by strong wage growth for the third straight year, turned out to be a key factor supporting the JPY. Meanwhile, the Federal Reserve's (Fed)...
The USD/CHF pair traded on a weaker note around 0.8825 during the early European session on Thursday (3/27). Concerns over the global trade war and ongoing geopolitical tensions boosted safe-haven assets such as the Swiss Franc (CHF). Investors await the final Gross Domestic Product (GDP) for the fourth quarter (Q4), weekly Initial Jobless Claims and Pending Home Sales, due on Thursday. Uncertainty over the tariff outlook and concerns that US President Donald Trump's trade policies will slow the global economy and hurt corporate profits weakened the greenback against the CHF. Trump said on...
Oil prices edged up on Thursday on concerns about tighter global supplies following U.S. tariff threats on Venezuelan oil buyers and earlier sanctions on Iranian oil buyers, while traders weighed the impact of U.S. President Donald Trump's auto tariffs. Brent crude futures rose 7 cents, or 0.1%, to $73.86 a barrel. U.S. West Texas Intermediate crude futures rose 10 cents, or 0.1%, to $69.75 a barrel by 0406 GMT. Oil prices rose about 1% on Wednesday on government data showing U.S. crude and fuel inventories fell last week, and on U.S. tariff threats on countries that buy Venezuelan crude....
Gold prices rose on Thursday as U.S. auto tariffs escalated global trade tensions ahead of an April 2 deadline for reciprocal tariffs from the world's largest economies. Spot gold rose 0.4% to $3,030.47 an ounce by 0247 GMT. U.S. gold futures rose 0.5% to $3,036.00. U.S. President Donald Trump on Wednesday announced a 25% tariff on imported cars and light trucks starting next week, widening a global trade war. Investors are concerned that Trump's retaliatory tariffs, expected to take effect on April 2, could stoke inflation, slow economic growth and escalate trade tensions. Concerns over...
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....