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...
Silver (XAG/USD) price is trading near a monthly high of $33.40 during North American trading hours on Thursday (3/13). The white metal is gaining as easing US consumer and producer inflation pressures pave the way for the Federal Reserve (Fed) to cut interest rates at its June policy meeting. The US Producer Price Index (PPI) report showed that headline and core producer inflation slowed at a faster-than-expected pace to 3.2% and 3.4%, respectively, in the 12 months to February. The headline PPI remained flat month-on-month while the core figure declined by 0.1%. On Wednesday, the US...
Gold prices traded near their highest levels on Thursday, boosted by safe-haven demand amid tariff concerns and a U.S. inflation report that reinforced expectations of future interest rate cuts. Spot gold was up 0.5% at $2,946.68 an ounce, as of 1131 GMT. Bullion hit a record high of $2,956.15 on Feb. 24 amid uncertainty over U.S. tariffs. U.S. gold futures were up 0.3% at $2,956. "Gold prices continue to be supported by the prospect of a tariff-driven economic slowdown, which could potentially accelerate expectations of a U.S. Fed rate cut," said Ole Hansen, head of commodity strategy at...
EUR/USD corrected near 1.0860 during European trading hours on Thursday (3/13). The major currency pair fell as the Euro (EUR) faced slight pressure on a new escalation in a potential tariff war between the European Union (EU) and the United States (US). On Wednesday, US President Donald Trump said that he would respond to the EU's proposed retaliatory tariffs on 26 billion Euros worth of US goods. Trump's comments came just before a meeting with Irish Prime Minister Micheál Martin, after which he said that "there is a big deficit that we have with Ireland and with other countries" and...
The USD/CHF pair weakened near 0.8810 during the early European session on Thursday (3/13). Concerns that US President Donald Trump's protectionism will push the US economy into recession dragged the US Dollar (USD) lower against the Swiss Franc (CHF). Investors will take more cues from the US Producer Price Index (PPI) for February and the weekly Initial Jobless Claims, due on Thursday. US inflation, as measured by the Consumer Price Index (CPI), eased to 2.8% YoY in February from 3.0% in January, lower than the estimate of 2.9%, the Labor Statistics reported on Wednesday. Meanwhile, core...
Gold prices edged higher on Thursday as uncertainty over tariffs persisted, boosting demand for the safe-haven asset, while cooler-than-expected U.S. inflation also supported bullion by reinforcing expectations of a rate cut. Spot gold was up 0.2% at $2,936.31 an ounce, by 0715 GMT, while U.S. gold futures were steady at $2,946.00. "The CPI data is encouraging but I suspect that the tariff hikes are not yet reflected in the inflation data." Data showed that the U.S. consumer price index rose less than expected last month, but the increase was likely temporary against a backdrop of...
Oil prices fell slightly on Thursday after surging in the previous session on a bigger-than-expected draw in U.S. gasoline stocks, as the market weighed prevailing macroeconomic concerns against expectations of strong near-term demand. Brent crude futures were down 3 cents at $70.92 a barrel by 0704 GMT, while U.S. West Texas Intermediate crude futures were down 8 cents at $67.60 a barrel. Both benchmarks rose about 2% on Wednesday as U.S. government data showed tighter-than-expected oil and fuel inventories. U.S. gasoline stocks fell by 5.7 million barrels, more than the 1.9...
The Japanese Yen (JPY) remains on the front foot against its American counterpart and keeps the USD/JPY pair depressed below the 148.00 round figure through the early European session on Thursday. Worries about the potential economic fallout from US President Donald Trump's trade tariffs, along with bets that the Bank of Japan (BoJ) will continue raising interest rates amid a broadening inflation in Japan, underpin the safe-haven JPY. Meanwhile, hawkish BoJ expectations keep the Japanese government bond yields elevated near a multi-year top. The resultant widening of the rate differential...
Oil steadied after the biggest gain in two weeks that was driven by easing US inflation and bullish demand data. Brent crude traded near $71 a barrel after jumping 2% on Wednesday, with West Texas Intermediate below $68. US consumer prices rose at the slowest pace in four months in February, official data showed, although economists anticipate that an escalating trade war will drive up prices on goods like food and clothing in the coming months. "Crude oil prices have been a beneficiary of the risk-on sentiment across markets," said Charu Chanana, chief investment...
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....