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...
Oil held near $75 in a volatile session as OPEC+ considers pushing back a series of monthly supply increases that were due to start in April. Brent futures earlier added as much as 0.6% in London, before trading little changed. Global oil markets remain too fragile to revive production now, a delegate of the group said. A decision is yet to be made and the group is split on how to proceed, said another. At the same time, Kazakhstan's primary oil export pipeline was operating at a reduced rate after an attack by drones, the facility's operator said. The...
Gold advanced, following its biggest one-day decline in two months, on nervousness over President Donald Trump's latest trade threats. Bullion traded near $2,900 an ounce, after tumbling 1.6% on Friday. The gains on Monday came even after the 14-day relative strength index — a gauge of the pace and intensity of moves — showed the precious metal reached overbought levels in recent sessions. Market participants are waiting for more insights on Trump's reciprocal tariff plans, which could heighten global trade tensions, said Manav Modi, an analyst at Motilal Oswal Financial Services Ltd....
Brent crude oil stayed just below $75 per barrel on Monday as investors watched for progress on a possible Russia-Ukraine peace deal, which could ease sanctions and boost oil supply. US President Donald Trump said he might meet with Russian President Vladimir Putin soon to discuss ending the war, with initial talks between the US and Russia set to take place in Saudi Arabia this week. If negotiations succeed, more Russian oil could enter global markets, increasing supply. Additionally, Iraq's Kurdistan region signaled that its oil exports may resume next month. However, oil prices are...
The Pound Sterling (GBP) trades steady against its major peers at the start of the week as investors turn cautious ahead of the United Kingdom (UK) employment data for three months ending December, which will be released on Tuesday. Investors will pay close attention to the UK labor market data to know whether business owners are still upset with Chancellor of the Exchequer Rachel Reeves's announcement of raising employers' contribution to National Insurance (NI). In the Autumn Budget, Reeves increased employers' social security contributions by 1.2% to 15%, which will come into effect from...
Gold price (XAU/USD) maintains its bid tone around the $2,900 round-figure mark through the first half of the European session on Monday, though it lacks follow-through and remains below the all-time peak touched last week. Investors remain worried that US President Donald Trump's tariffs could trigger a global trade war. This turns out to be a key factor that continues to benefit the safe-haven bullion. Meanwhile, the growing market acceptance that the Federal Reserve (Fed) would stick to its hawkish stance and keep interest rates on hold for an extended period helps revive the US Dollar...
Silver prices stabilized above $32 per ounce on Monday after experiencing wild swings in the previous session. The metal found support from a weaker dollar, driven by softening US economic data and easing concerns over a global trade war. Investors also kept an eye on US-led efforts to resolve the war in Ukraine, which could reduce demand for safe-haven assets like silver. However, silver reached a three-month high on Friday as strong industrial demand, particularly from the electrification and manufacturing sectors, supported prices. Recent data revealed that China added 357 gigawatts of...
Oil prices were little changed on Monday as investors eyed developments on a potential Russia-Ukraine peace deal that could ease sanctions disrupting global supply flows. Brent crude futures was up 7 cents at $74.81 a barrel at 0430 GMT, while U.S. West Texas Intermediate crude was stable at $70.75 a barrel. The market continued to keep an eye on progress of peace talks, after U.S. President Donald Trump and his administration officials announced they had begun discussions with Russia to end the war in Ukraine. "If negotiations lead to a resolution, more Russian barrels would enter global...
Gold price (XAU/USD) kicks off the new week on a positive note following Friday's pullback from the vicinity of the all-time top and climbs back above the $2,900 mark during the Asian session. The US Dollar (USD) selling bias remains unabated in the wake of a delay in US President Donald Trump's reciprocal tariffs. This, along with worries that Trump's policies could trigger a global trade war, turn out to be key factors acting as a tailwind for the safe-haven precious metal. Meanwhile, the growing market acceptance that the Federal Reserve (Fed) would stick to its hawkish stance and keep...
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....