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 prices rose to record highs in Asian trade on Thursday, benefiting from a softer dollar as the Federal Reserve still signaled at least two more interest rate cuts this year. The yellow metal extended a run of recent gains, as it continued to benefit from heightened safe haven demand due to the collapse of the Israel-Hamas ceasefire, sluggish Russia-Ukraine peace negotiations, and increased uncertainty over the U.S. economy under President Donald Trump. Spot gold rose 0.2% to a record high of $2,057.36 an ounce, while gold futures expiring in April hit a peak of $3,065.09 an...
Gold hovered around $3,050 per ounce on Thursday, a fresh record, supported by rising US rate cut expectations and strong safe-haven demand. The Federal Reserve noted increased economic uncertainty but still expects to cut rates by 50 bps this year, matching its December projection and boosting non-yielding gold. Meanwhile, tensions in the Middle East escalated as Israel launched "targeted ground activities" in Gaza, retaking part of a key area after an airstrike ended a two-month ceasefire with Hamas. The US also kept striking Houthi targets in Yemen after Red Sea attacks, with Trump...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $67.20 during the early Asian session on Thursday. The WTI price edges higher amid the ongoing geopolitical tensions in the Middle East. However, the Federal Reserve's (Fed) decision to hold interest rates steady might cap the upside for WTI price. The Israeli military resumed ground operations in the central and southern Gaza Strip. US President Donald Trump threatened to continue his country's attack on Yemen's Houthis and said he would hold Iran responsible for any attacks carried out by the group that has...
The Australian Dollar depreciated as Employment Change declined by 52.8K in February, missing the consensus forecast of a 30.0K increase. The PBOC kept its Loan Prime Rates (LPRs) unchanged, with the one- and five-year rates at 3.10% and 3.60%, respectively. The Fed reaffirmed its expectation of two rate cuts later this year but highlighted uncertainty arising from Trump's tariff policies. The Australian Dollar (AUD) weakens against the US Dollar (USD) on Thursday, reversing gains from the previous session. The AUD/USD pair declines as the AUD receives downward pressure following the...
Gold prices rallied sharply and hit a new all-time high of $3,052 on Wednesday as US Federal Reserve (Fed) Chair Jerome Powell spoke following the Fed's decision to hold rates unchanged. At the time of writing, the XAU/USD trades volatile within the $3,035-$3,050 range, up more than 0.20%. The Fed decided to keep rates unchanged at the 4.25%-4.50% range and tweaked its balance sheet, which is expected to run off in April. The Fed acknowledged that labor market conditions remain solid but noted that inflation remains "somewhat" elevated, reaffirming its commitment to monitoring risks to both...
The USD/CHF pair gains ground to around 0.8770 during the Asian session on Wednesday, bolstered by the renewed Greenback demand. The US Federal Reserve (Fed) interest rate decision will take center stage on Wednesday, with no change in rate expected. The attention will shift to the Swiss National Bank (SNB) policy meeting later on Thursday. Market consensus suggests that the Fed will keep its federal funds rate unchanged at the current range of 4.25% to 4.50%. Traders will focus on the Press Conference and Summary of Economic Projections (SEP), or ‘dot-plot,' for more cues about the future...
GBP/USD lurched higher on Wednesday, tapping 1.2985 in intraday trading after the Federal Reserve's (Fed) latest rate call came in broadly as expected, with the Fed keeping rates steady at 4.5%. Markets broadly anticipated another hold from the Fed but are looking for signs that the Fed will continue to deliver rate cuts if the US labor market continues to break down. According to the Fed, growth expectations for 2025 have been severely hampered by the Trump administration's policy approach of announcing then walking back trade tariffs via social media posts. The Federal Open Market...
The US Dollar Index (DXY) initially gained traction near 104.00 after the Federal Reserve decided to keep its benchmark interest rate at 4.5%, maintaining a cautious stance amid evolving inflation and economic conditions. The latest FOMC dot plot revealed that policymakers expect a median rate of 3.875% for the current period, down from the prior 4.375%, reinforcing expectations of future rate cuts. Looking ahead, the Fed revised its 2025 rate forecast lower to 3.375%, a signal of potential policy easing in response to slower economic growth and elevated inflation projections. GDP...
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....