Silver slipped to around $48.6 per ounce on Friday and was on track to lose over 6% for the week, as profit-taking swept through the market amid concerns that the metal may have entered overvalued territory. The recent surge was driven by strong safe-haven demand and optimism over silver's long-term industrial use in electric vehicles, data centers, and solar power, alongside tightening inventories in London and Shanghai vaults. Meanwhile, investors monitored trade developments after the White House confirmed the Trump-Xi meeting next Thursday on the sidelines of the APEC summit. Markets...
Gold prices (XAU/USD) started the week cautiously, continuing their sideways trend late last week after briefly touching a record high near $3,675 on Tuesday. This movement reflects a lack of strong buying confidence, as market participants held back ahead of a busy week of central bank decisions.As of this writing, gold was trading around $3,657 (up 0.37% daily) after bouncing from $3,626. The $3,650 area remains short-term resistance, so prices are likely to consolidate within a narrow range.The main focus is the Fed's decision on Wednesday. The market is pricing in a 25 bps cut, with a...
The US dollar weakened in trading on Monday (September 15th), as investors remained cautious ahead of a crucial week filled with central bank decisions, particularly from the Federal Reserve (The Fed). The Dollar Index (DXY), which measures the greenback's performance against six major currencies, fell slightly after previously strengthening. Market participants are now focusing on this week's Federal Open Market Committee (FOMC) meeting. Expectations are strong that the Fed will cut interest rates by 25 basis points, a move deemed necessary to stimulate economic growth amid signs of a...
Oil prices were little changed on Monday as investors assessed the impact of Ukrainian drone attacks on Russian refineries, while U.S. President Donald Trump said he was prepared to impose sanctions on Russia if NATO nations stop buying Russian oil. Brent crude futures rose 7 cents, or 0.1%, to $67.06 a barrel by 1121 GMT while U.S. West Texas Intermediate crude was at $62.80 a barrel, up 11 cents, or 0.18%. Oil remains range-bound between $65-70, underpinned by disruption risks from Ukrainian attacks on Russian energy facilities and renewed calls from Trump for tougher secondary sanctions...
The Pound Sterling (GBP) advances against the US Dollar (USD) at the start of the week during the European trading session. The GBP/USD pair jumps to near 1.3600as the US Dollar faces selling pressure, with investors awaiting monetary policy announcements by the Federal Reserve (Fed) and the Bank of England (BoE) on Wednesday and Thursday, respectively. During the press time, the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, trades marginally down near 97.50. According to the CME FedWatch tool, traders see a 94,2% chance that the central bank will...
The EUR/USD pair trades at 1.1745 during Monday's European session, recovering from a pullback to 1.1720 earlier in the day. The common currency opened the week on a hesitant tone but is gathering momentum as the market shifts its focus from France's political crisis to the US Federal Reserve (Fed) monetary policy meeting due on Wednesday. On Friday, the Fitch rating agency downgraded France's debt ranking to A+, its lowest level on record, citing its uncertain political situation – President Emmanuelle Macron named Sebastien Lecornu as the third Prime Minister of his term last week –, and...
Gold (XAU/USD) struggles to capitalize on its intraday bounce from the $3,627-3,626 region and trades with a negative bias through the first half of the European session on Monday. Rising bets for a more aggressive policy easing by the Federal Reserve (Fed) keep the US Dollar (USD) depressed near its lowest level since July 24 and might continue to act as a tailwind for the non-yielding yellow metal. Apart from this, rising geopolitical tensions turn out to be another factor lending some support to the safe-haven commodity. The XAU/USD pair, however, remains confined in a one-week-old...
Gold (XAU/USD) attracts some dip-buyers near the $3,627-3,626 region during the Asian session on Monday, though it lacks follow-through and remains confined in a one-week-old range. Rising bets for a more aggressive policy easing by the US Federal Reserve (Fed) keep the USD depressed near its lowest level since July 24 and continue to act as a tailwind for the non-yielding yellow metal. Apart from this, rising geopolitical tensions turn out to be another factor lending support to the safe-haven precious metal. The XAU/USD bulls, however, seem reluctant to place aggressive bets and opt to...
Silver traded above $42 per ounce on Monday, staying close to 14-year highs as investors braced for an expected US Federal Reserve interest rate cut this week. Markets are pricing in about a 96% chance of a 25 basis point cut on Wednesday and roughly a 4% probability of a larger half-point move, following US data that signaled a cooling labor market and subdued inflation. Central banks in Canada and China are also expected to ease policy this week, while counterparts in Japan and the UK are likely to stand pat. On the geopolitical front, US and Chinese officials began talks in Madrid on...
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....