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 price (XAU/USD) retains its bullish bias through the early European session on Tuesday and currently trades around the $3,010 area or the all-time peak. Persistent uncertainty over US President Donald Trump's policies, US recession fears, and geopolitical risks continue to push the safe-haven precious metal higher for the second straight day. This also marks the fifth day of a positive move for the commodity in the previous six and is further fueled by expectations that the Federal Reserve (Fed) will lower borrowing costs several times this year. The XAU/USD bulls, meanwhile, seem...
The Japanese Yen (JPY) extends its steady intraday descent through the early European session on Tuesday, lifting the USD/JPY pair to a fresh two-week high, around the 149.85 region in the last hour. The global risk sentiment remains well supported by the optimism over China's stimulus measures and hopes for a Ukraine peak deal, which, in turn, is seen undermining the safe-haven JPY. Apart from this, a modest US Dollar (USD) recovery from a multi-month low touched on Monday lends additional support to the currency pair. Meanwhile, the markets have been pricing in the possibility that the...
Silver price (XAG/USD) extends its upside to around $33.90, its highest level since October 30, 2024, during the Asian trading hours on Tuesday, bolstered by the weaker US Dollar (USD). The escalating geopolitical tensions in the Middle East, economic uncertainty and growing industrial demand provide some support to the white metal. The mounting fears of a recession in the United States (US) and persistent uncertainty over trade relations weigh on investor sentiment, boosting safe-haven assets like Silver. Late Monday, US President Donald Trump said that he would be imposing both broad...
Oil prices rose slightly on Tuesday, supported by instability in the Middle East as well as China's stimulus plans and data, although global growth concerns, U.S. tariffs and Russia-Ukraine ceasefire talks curbed gains. Brent futures ticked up 17 cents, or 0.2%, to stand at $71.24 a barrel by 0350 GMT, while U.S. West Texas Intermediate crude futures rose 14 cents, or 0.2%, to $67.72 a barrel. "Along with U.S. strikes on the Houthis in Yemen, several factors provided support to the market," ING analysts said in a research note. "China unveiled plans to revive consumption, while Chinese...
GBP/USD retreats after gaining in the previous session, hovering around 1.2970 during Asian trading on Tuesday. The pair faces pressure as the US Dollar (USD) attempts to recover losses from the last two sessions. However, downside movement may be limited, as the Greenback remains vulnerable amid rising trade tensions and growing economic concerns in the United States (US). The US Dollar Index (DXY), which tracks the USD against six major currencies, trades positively around 103.50 at the time of writing. However, the US Dollar could further lose ground as weak US economic data and Trump's...
Gold rose above the $3,000 level mark on Tuesday, hitting a new record high as safe-haven demand strengthened ahead of the U.S. Federal Reserve's interest rate decision. With the Fed expected to keep rates unchanged, investors will focus on the central bank's updated economic projections and Chair Jerome Powell's press conference for signals on future policy direction, particularly amid trade and tariff woes. Geopolitical tensions have also contributed to market uncertainty. On Monday, President Donald Trump has warned that Iran will be held directly responsible for any further attacks by...
The Australian Dollar (AUD) gains ground for the third successive session on Tuesday. The AUD/USD pair strengthened as the US Dollar (USD) weakened amid rising trade tensions and growing economic concerns in the United States (US). Reserve Bank of Australia (RBA) Assistant Governor (Economic) Sarah Hunter stated late Monday that the central bank will take a cautious approach to rate cuts. The February statement indicated that the RBA board is more conservative than market expectations regarding further easing. Hunter also emphasized monitoring US policy decisions and their impact on...
Oil steadied after a two-day gain, with the outlook for China's economy and geopolitical risk in the Middle East remaining in focus. West Texas Intermediate traded above $67 a barrel after rising by 1.5% over the past two sessions, with Brent closing near $71 on Monday. There were optimistic signals in the world's two biggest crude consumers, with Beijing planning further measures to boost consumption, while US retail sales came in stronger than expected — although they still showed a modest slowdown. Geopolitical concerns also remained at the forefront after US President Donald...
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....