Gold prices scaled a fresh peak on Tuesday, as a weaker dollar and a dip in bond yields amid growing bets for a Federal Reserve rate cut this month lifted demand for the precious metal. Spot gold gained 0.4% to $3,651.38 per ounce as of 0249 GMT. U.S. gold futures for December delivery added 0.4% to $3,690.90. "We probably will see more upside in gold from here provided that the U.S. central bank delivers with regards to market expectations of seeing multiple rate cuts," KCM Trade Chief Market Analyst Tim Waterer said. U.S. job growth weakened sharply in August and the unemployment rate...
The U.S. dollar was little changed on Monday before Tuesday's deadline for Washington and Beijing to strike a tariff deal and a key U.S. inflation report that could help determine whether the Federal Reserve lowers borrowing costs next month. The dollar index was down less than 0.1% to 98.164 after last week's 0.4% fall. Against the yen, the U.S. currency traded at 147.39, down 0.2%. Japanese markets were closed on Monday for the Mountain Day holiday. The euro was up less than 0.1% at $1.1652, while sterling was flat at $1.3462. The dollar remains on the back foot as investors recently...
The Japanese Yen (JPY) seesaws between tepid gains/minor losses against its American counterpart through the early European session on Monday amid mixed fundamental cues. The prevalent risk-on environment, along with the uncertainty over the likely timing of the next interest rate hike by the Bank of Japan (BoJ), is seen undermining the safe-haven JPY. However, the divergent BoJ-Federal Reserve (Fed) policy expectations hold back the JPY bears from placing aggressive bets. Investors seem convinced that the BoJ will raise interest rates by the end of this year. In contrast, the US central...
Oil prices fell in Asian trade on Monday, extending declines of more than 4% last week as investors awaited the outcome of talks between the U.S. and Russia later this week on the war in Ukraine. Brent crude futures fell 62 cents, or 0.93%, to $65.97 a barrel by 0631 GMT, while U.S. West Texas Intermediate crude futures were down 69 cents, or 1.08%, to $63.19. Expectations have risen for a potential end to sanctions that have limited the supply of Russian oil to international markets, after U.S. President Donald Trump said on Friday that he would meet Russian President Vladimir Putin on...
Gold prices slipped on Monday as market participants focussed on U.S.-Russia talks on the war in Ukraine, and July inflation data that could offer more insight into the Federal Reserve's interest rate outlook. Spot gold was down 0.6% at $3,378.49 per ounce, as of 0521 GMT, after hitting its highest since July 23 on Friday. U.S. gold futures for December delivery dropped 1.4% to $3,441.20. "Cooling geopolitical tensions surrounding the war in Ukraine saw gold fall further, following Friday's announcement that President Donald Trump will meet with Vladimir Putin on the U.S. soil," City...
USD/CHF weakened after two days of gains, trading around 0.8060 during the Asian session on Monday (August 11th). The currency pair weakened amid increasing likelihood that the Fed will deliver multiple interest rate cuts later this year. US consumer inflation data due Tuesday, followed by preliminary UK Q2 GDP data and the US Producer Price Index (PPI) due Thursday, will be in focus to provide further impetus for the US economy. The US Dollar Index (DXY), which measures the value of the US dollar (USD) against six major currencies, retraced its recent gains and was trading around 98.00 at...
Silver prices (XAG/USD) slipped in Asian trading on Monday (August 11th), ending a six-day winning streak. The white metal traded near $38.10 per ounce, pressured by a strengthening US dollar, investor profit-taking, and optimism regarding a potential truce in the trade war between the United States and China. This combination of factors reduced interest in safe-haven assets like silver. Market participants' focus is now on developments in trade negotiations between the world's two largest economies, particularly ahead of the deadline for imposing additional tariffs. US Secretary of...
The US Dollar Index (DXY) weakened in early trading on Monday (August 11th), retracing earlier gains and trading around the 98.00 level during the Asian session. This weakening reflects increased market caution ahead of the release of key economic data, particularly US consumer inflation on Tuesday, as well as preliminary UK second-quarter GDP data and the US Producer Price Index (PPI) on Thursday. Pressure on the greenback increased following a series of weak US economic data. Higher initial jobless claims and a below-expected July Nonfarm Payrolls report reinforced speculation that the...
Gold prices weakened in trading on Monday (August 11th) as easing geopolitical tensions reduced demand for safe-haven assets. Market participants are now shifting their attention to US consumer inflation data scheduled for release on Tuesday, which is expected to provide clues to the Federal Reserve's future interest rate policy. Spot gold fell 0.7% to $3,376.67 per ounce at 02:48 GMT, while US gold futures for December delivery fell 1.5% to $3,439.70. Pressure on gold prices emerged following the announcement that US President Donald Trump would meet Russian President Vladimir Putin on...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
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....