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 edges lower in the early Asian session, weighed by higher U.S. Treasury yields that undermine the appeal of the non-interest-bearing precious metal. The U.S. inflation report released overnight was hotter than expected, spurring a surge in the 10-year Treasury yield, says IG's Axel Rudolph in an email. Also, Fed rate-cut expectations are being pared back to July, the senior technical analyst adds. Spot gold is 0.1% lower at $2,901.61/oz. Source : Dow Jones Newswires
Gold price recovered some ground late during Wednesday's North American session. Federal Reserve (Fed) Chair Jerome Powell said that policy needs to remain restrictive as inflationary pressures mount and United States (US) President Donald Trump's tariff threats intensify. XAU/USD trades at $2,897, virtually unchanged. The non-yielding metal halted its downtrend after the US Bureau of Labor Statistics (BLS) revealed that inflation jumped above 3% in the United States, suggesting that the Fed's pause on its easing cycle could be longer thanLast week, the December fed funds rate futures...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $71.10 during the early Asian session on Thursday. The WTI price falls as US President Donald Trump called Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy to discuss ending the war in Ukraine. Trump discussed the war in Ukraine in phone calls with Putin and Zelenskiy. Trump claimed he and Putin had agreed to have their respective teams start negotiations immediately, and they will begin by calling Zelenskiy to inform him of the conversation. "Trump doing peace talks, I think that has...
Oil prices plunged more than 2% on Wednesday after U.S. President Donald Trump took the first major step toward diplomacy over the war in Ukraine that he has vowed to end, a war that has supported oil prices amid concerns about global supply. Brent crude futures fell $1.82, or 2.36%, to $75.18 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell $1.95, or 2.66%, to $71.37. U.S. crude futures fell more than $2 at their session lows. The declines followed three days of gains, with Brent up 3.6% and WTI up 3.7%. U.S. President Donald Trump discussed the war in Ukraine in a phone...
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of currencies, initially rose after a higher-than-expected January Consumer Price Index (CPI) data but then reversed course. Inflation beat estimates, causing investors to reassess the Federal Reserve's (Fed) policy path. While Fed Chair Jerome Powell remained non-committal on future interest rate cuts, Treasury yields moved higher, supporting the DXY early in the American session, but later fell below 107.90. The US Dollar Index attempted to move higher but faced resistance at 108.50, struggling to...
Gold prices recovered slightly in the North American session on Wednesday (2/12). Federal Reserve (Fed) Chairman Jerome Powell said that policy needs to remain tight as inflationary pressures increase and US President Donald Trump's tariff threats escalate. XAU/USD is trading at $2,897, almost unchanged. The non-yielding metal halted its downtrend after the US Bureau of Labor Statistics (BLS) revealed that inflation jumped above 3% in the United States, indicating that the Fed's pause in its easing cycle could be longer than expected. Last week, December federal funds rate futures showed...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades unchanged around 108.00 after Federal Reserve (Fed) Chairman Jerome Powell did not leave any clues for markets to pick up on, when facing lawmakers on Tuesday at Capitol Hill. Powell did not leave many clues about the timing for another interest rate cut by the central bank, if any. Traders are mulling what to do next, with US yields slowly but surely starting to head higher this week. The economic calendar shows the Consumer Price Index (CPI) numbers for January are due on...
Gold's price (XAU/USD) is facing some profit-taking pressure and trades below $2,900 throughout this Wednesday after Federal Reserve (Fed) Chairman Jerome Powell went to Capitol Hill for his semi-annual testimony before lawmakers the previous day and before the US Consumer Price Index (CPI) data for January release. Powell did not say much but stated that the current level of the monetary policy rate is helping the central bank to withstand market volatility and potential inflation shocks that could take place. The comments were enough to fuel a small surge in US bond yields. Meanwhile,...
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....