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 skyrocketed on Thursday, with the yellow metal reaching a new record high of $2,989 yet poised to extend the trend towards the $3,000 figure. Uncertainty about the United States' (US) trade policies and increasing odds the Federal Reserve (Fed) would lower interest rates underpin the precious metal. XAU/USD trades at $2,988, up 1.86%.The yellow metal's advance is set to continue as US President Donald Trump embarks on a trade war with US allies and adversaries, as he tries to reduce the trade deficit. Fluctuations of imposing and removing duties on imports keep money flocking to...
The US Dollar (USD) bounced back on Thursday, reclaiming the 104.00 level as traders reacted to softer-than-expected Producer Price Index (PPI) data and positive jobless claims figures. The US Dollar Index (DXY) initially jumped following the data release but later pared gains as investors weighed the implications of slowing inflation and potential demand concerns. Meanwhile, United States (US) diplomats arrived in Russia for ceasefire talks over Ukraine, and President Donald Trump escalated trade tensions by threatening a 200% tariff on European wines and champagnes.Mixed economic signals,...
Euro drops slightly as traders gauged the outcome of a debt in Germany around major fiscal reforms, although the currency hovered around multi-month highs against the U.S. dollar. By 10:12 ET (14:12 GMT), the euro had dropped against the greenback by 0.3% to $1.0860, but stayed near a five-month peak touched earlier this week. Sterling inched down on the dollar to $1.2946. Lawmakers in Germany are considering a proposed 500 billion euro fund for defense and infrastructure spending, as well as a loosening to the country's traditionally strict borrowing rules. The plans have been put forward...
Oil prices slipped on Thursday as markets weighed macroeconomic concerns, including the risk that tariff wars between the U.S. and other countries could hurt global demand. Brent futures were down 54 cents, or 0.8%, at $70.41 a barrel at 11:28 a.m. EDT (1525 GMT). U.S. West Texas Intermediate crude futures fell 63 cents, or 0.9%, to $67.05 a barrel. The International Energy Agency reported that global oil supply could exceed demand by around 600,000 barrels per day this year, with U.S.-led supply growth and global demand now expected to rise by just 1.03 million bpd, off last month's...
Gold prices surged sharply on Thursday (3/13) and surpassed its previous record high of $2,954 despite high US Treasury yields and a stronger US Dollar. At the time of writing, XAU/USD surpassed $2,960, and hit an all-time high of $2,971 per troy ounce. Earlier, the US Bureau of Labor Statistics (BLS) revealed that prices paid by producers maintained the "status quo." PPI in February increased by 3.2% YoY, below the 3.3% estimate and down from January's 3.7%. Core PPI increased by 3.4% YoY for the same period, below the 3.5% estimate. At the same time, Initial Jobless Claims for the week...
Oil prices fell slightly in early US trading on Thursday, easing after recovering from recent lows, as sentiment remained strained amid concerns over a US recession and high production. Crude prices rebounded from more than three-year lows this week, boosted in part by a weak reading on US inflation, along with a weaker dollar. Data showing a much larger than expected drawdown in US gasoline inventories also helped ease some concerns about slowing demand. Oil is still on track to fall sharply so far in 2025, however, as traders worry about weakening demand in major economies amid a US-led...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against a basket of six major currencies, is back below 104.00 after briefly rising on lower PPI figures. Markets await comments from US diplomats visiting Russia to discuss a ceasefire deal, which has been greenlit by Ukraine. Meanwhile, US President Donald Trump has threatened Europe with 200% tariffs on all wine and champagne coming from the region. On the economic front, a slew of data is due out this Thursday at 12:30 GMT. In addition to the weekly US Initial Jobless Claims, the US Producer Price Index (PPI)...
Gold traded higher on Thursday (3/13) even as the dollar strengthened after another report showed U.S. inflation eased last month. Gold for April delivery was last seen up $6.20 at $2,953.00 an ounce. The gains came as the U.S. Bureau of Labor Statistics reported the February Producer Price Index (PPI), a measure of wholesale prices, rose at an annualized pace of 3.2% in February, down from 3.7% a month earlier and below the FactSet consensus estimate for a reading of 3.3%. The core PPI, which excludes volatile food and energy prices, fell 0.1% from January, down from a 0.5% gain...
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....