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...
The euro hit a fresh four-month peak against the dollar on Tuesday on hopes a German defense spending deal could be reached by the end of the week, while the dollar index slumped to its lowest since October on U.S. recession fears. German Green Party co-leader Franziska Brantner said in an interview with Bloomberg News that her party was ready to negotiate a deal to boost state borrowing to boost defense spending and revive growth. That lifted the euro to $1.09205 against the dollar in early European trading, its highest since November. It was last up 0.7%. "The market really liked the...
Silver (XAG/USD) prices surged sharply near $32.50 during the European session on Tuesday (3/11). The white metal strengthened as the US Dollar (USD) faced a sharp sell-off, with investors cautious about the US economic outlook amid President Donald Trump's tariff agenda. The US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, fell near 103.35, the lowest level seen in four months. A lower US Dollar makes precious metals, such as Silver, more attractive to investors. Market participants are concerned that President Trump's tariff policies will lead to...
Gold (XAU/USD) prices rose to an intraday high during the early European session (11/3) and is now looking to build on its intraday positive move beyond the $2,900 level. Ongoing concerns about the potential economic impact of US President Donald Trump's trade tariffs and geopolitical risks turned out to be key factors that continued to underpin the safe-haven bullion. Additionally, the prevailing risk-off environment and sustained US Dollar (USD) selling further benefitted the precious metal. Investors now seem convinced that a tariff-driven slowdown in US growth could force the Federal...
The British pound (GBP) turned sideways after a strong rally in more than a month around 1.2900 against the US dollar (USD) in European trading hours on Tuesday (3/11). The GBP/USD pair traded firm as the US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, struggled above a four-month low of 103.45 ahead of the US Consumer Price Index (CPI) data for February, due for release on Wednesday. Investors will be watching the US inflation data as it will influence market speculation over the Federal Reserve's (Fed) monetary policy outlook. Year-on-year...
Oil prices pared earlier losses to inch up during trade on Tuesday, despite concerns over a potential U.S. recession, the impact of tariffs on global growth and as OPEC+ sets its sight on ramping up supply. Brent futures edged up 18 cents, or 0.3%, to $69.46 a barrel at 0640 GMT after falling in early trade. U.S. West Texas Intermediate crude futures rose 9 cents, or 0.1%, to $66.12 a barrel after previous declines as well. Despite the market noise, Brent at around $70 a barrel is quite a strong support and oil prices may look to stage a technical bounce at current levels, said Suvro...
Gold price (XAU/USD) struggles to capitalize on its modest intraday bounce from a one-week low and remains below the $2,900 mark through the Asian session on Tuesday. The uncertainty surrounding US President Donald Trump's trade policies and their impact on the global economy continues to weigh on investors' sentiment. This, in turn, assists the safe-haven bullion to attract some intraday dip-buyers near the $2,880 region. Moreover, the prevalent US Dollar (USD) selling bias, fueled by speculations that a tariff-driven slowdown in US growth might force the Federal Reserve (Fed) to cut...
The USD/CHF pair attracts some sellers to near 0.8800 during the early European session on Tuesday. Probable US economic slowdown and continued policy uncertainty surrounding the Trump administration's trade policy exert some selling pressure on the US Dollar (USD). Investors will closely monitor the US Consumer Price Index (CPI) inflation report, which is due on Wednesday. Fears about a tariff-driven slowdown in US growth have rattled US stocks and the USD. "The market is unsure whether fading U.S. exceptionalism will continue to hurt the dollar or whether the dollar benefits from its...
The US Dollar Index (DXY), which tracks the Greenback against a basket of currencies, struggles to capitalize on the previous day's modest gains and attracts fresh sellers during the Asian session on Tuesday. The index currently trades around the 103.70 area, down over 0.20% for the day, and remains close to its lowest level since early November touched last Friday. Investors remain worried about US President Donald Trump's trade tariffs and their potential impact on the US economy. Apart from this, Friday's weaker US Nonfarm Payrolls (NFP) report pointed to signs of a cooling labor...
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....