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's price (XAU/USD) is getting knocked out and is facing a substantial 3% loss since it printed a new all-time high at $2,956 on Monday at the start of this week. The precious metal currently trades at $2,860 at the time of writing, after United States (US) President Donald Trump reiterated that tariffs for Mexico and Canada will start on March 4, while China will see an additional 10%, raising the total rates to20% on imports into the US. This dampens hopes markets still had for a possible delay in the implementation of these tariffs. Meanwhile, the US Personal Consumption Expenditures...
Gold's price (XAU/USD) sees losses accelerate going into Friday with a near 3% loss since it printed a new all-time high at $2,956 on Monday. The precious metal currently trades at $2,860 at the time of writing, after United States (US) President Donald Trump reiterated that tariffs for Mexico and Canada will start on March 4, while China will see an additional 10%, raising the total rates to20% on imports into the US. This dampens hopes markets still had for a possible delay in the implementation of these tariffs. Meanwhile, China is set to retaliate and it is ready to hit back at Trump's...
Rapid drop in Pound Sterling (GBP) could extend vs US Dollar (USD); oversold conditions suggest any decline is part of a lower 1.2570/12640 range. In the longer run, two-week GBP strength has ended; for the time being, it is likely to trade between 1.2520 and 1.2670, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. Source: FXStreet
Crude oil prices fell on Friday as they headed for their first monthly decline since November, driven by uncertainty over global economic growth and fuel demand amid Washington's tariff threats and signs of a slowing U.S. economy. The more active May Brent crude was down 59 cents, or 0.8%, at $72.98 a barrel by 0747 GMT. U.S. West Texas Intermediate crude was at $69.70 a barrel, down 65 cents, or 0.9%. Front-month Brent, which expires on Friday, was trading at $73.42, down 62 cents, or 0.8%. Both benchmarks were on track for their first monthly decline in three months. Factors including...
USD/CHF pair trades in positive territory near 0.8995 during the early European session on Friday. The Greenback jumps after US President Donald Trump's latest tariff comments. The US Personal Consumption Expenditures (PCE) Price Index for January will be the highlight on Friday. The US Dollar jumps after Trump said that 25% tariffs on Mexican and Canadian goods will go into effect on March 4 as scheduled because drugs are still pouring into the United States from those countries. Trump added that goods from China will be subject to an extra 10% duty. The path of interest rate cuts by the...
Silver remained around $31.20 per ounce on Friday and was on track to lose nearly 4% for the week, pressured by demand uncertainties, strong supply, and some profit-taking. A stronger dollar also weighed on silver prices after US President Donald Trump confirmed on Thursday that his proposed 25% tariffs on Mexico and Canada would take effect on March 4, alongside an additional 10% duty on Chinese imports. Hecla Mining Company, the largest silver producer in the US, reported a 13% increase in silver output for 2024, mining 16.2 million ounces (moz), marking the second-highest production level...
Gold price (XAU/USD) maintains its offered tone through the early European session on Friday and is currently trading around the $2,864-2,863 region, just above a two-week low. The US Dollar (USD) is prolonging this week's recovery move from over a two-month low amid bets that the Federal Reserve (Fed) would stick to its hawkish stance amid still-elevated inflation. This, in turn, is seen as a key factor exerting pressure on the commodity for the second successive day. The down leg could further be attributed to repositioning trade ahead of the US Personal Consumption Expenditure (PCE)...
GBP/USD pair extends its downside to near 1.2580 during the early European session on Friday. Tariff uncertainty from US President Donald Trump undermines the Pound Sterling (GBP) against the US Dollar (USD). The US Personal Consumption Expenditures (PCE) Price Index for January will be the highlight later on Friday. Trump met with UK Prime Minister Keir Starmer late Thursday, and President Trump was quick to announce that there might be trade tariffs imposed on the UK as well unless ambiguous terms of a trade deal with the US are agreed upon within an undetermined deadline. Investors will...
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....