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 rose near $2,870 an ounce on Friday, hitting a record high and heading for a sixth straight weekly gain. The precious metal has repeatedly set new records this week, boosted by accelerating central bank buying and rising safe-haven demand amid global trade tensions and economic uncertainty. President Trump followed through on plans to impose a 10% levy on all Chinese imports, prompting Beijing to announce retaliatory tariffs on U.S. energy goods, set to take effect next week. Adding to the uncertainty, Trump also suggested the U.S. could take over the Gaza Strip for...
Gold edges higher in early Asian trade. Tariff fears continue to push gold to all-time highs, with an estimated 7% boost to prices coming from trade tensions, the Goldman Sachs commodities research team writes in a note. There could be modest downside to prices if tariff risks fade and investor positioning normalizes, they say. But sustained central bank buying and falling Fed funds rates will continue to support prices, which could hit $3,000/oz by 2Q 2026, they add. Spot gold is 0.1% higher at $2,859.45/oz. Source : Dow Jones Newswires
Oil headed for a third weekly decline as worries that President Donald Trump's tariffs on China will sap demand outweighed the new US administration's first round of sanctions against Iran. West Texas Intermediate was steady near $71 a barrel, and is down almost 3% this week, while Brent crude closed above $74. Trump has slapped levies on all imports from China, with the world's biggest oil importer countering with its own more restrained measures, which will come into force on Monday. The trade war — and the potential for it to spread — has stoked concerns that it will...
The next SNB policy meeting is not scheduled until March 20, Rabobank's FX analyst Jane Foley notes."A lot can happen in six weeks, but at this point it seems fairly likely that the central bank will announce another cut in rates. This would follow the jumbo 50 bps move at the last meeting in December. The SNB only meets once a quarter. This alone increases the chances of a move next month."Arguably, it also raises the chances that policymakers could decide on another jumbo move since the next policy meeting will not be until June. That said, the SNB's policy rate is already at 0.50%. Given...
The US Dollar Index holds below 108.00 as mixed economic indicators raise concerns ahead of Friday's employment report.ADP reports a stronger-than-expected increase in private sector employment for January, while Initial Jobless Claims also rise.Investors anticipate the upcoming Nonfarm Payrolls data to gauge the Federal Reserve's future monetary policy decisionsThe US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of currencies, struggles to hold its recent gains, trading below 108.00 on Thursday. Mixed United States (US) economic data fuels uncertainty...
Aussie dips near 0.6280 amid trade gloom,RBA likely to cut rates to 4.1%, capping Aussie gains.Markets await US labor data for fresh momentum,Soft Trade Balance data from Australia also affected the Aussie.The Australian Dollar (AUD) softens to around 0.6280 in Thursday's American session, tallying nearly 0.30% losses. Expectations of a Reserve Bank of Australia (RBA) rate cut and revived United States (US)-China tariff anxieties hamper the pair's upside. Meanwhile, attention shifts to the United States labor market report on Friday, with the Aussie bracing for further volatility.On the...
Oil prices rose on Thursday after a sharp overnight decline as traders cautiously assessed escalating U.S.-China trade tensions, while data showing higher U.S. crude inventories reflected weak demand. At 9:10 a.m. ET (14:10 GMT), Brent crude futures were up 0.7% at $75.16 a barrel, while WTI crude futures expiring in March were up 0.8% at $71.61 a barrel. Sentiment had improved on Thursday after Saudi Aramco (TADAWUL:2222), the world's top oil exporter, detailed a sharp increase in prices for Asian buyers. "This is consistent with the strength we have seen in the physical Middle East...
The US Dollar Index (DXY), which tracks the performance of the US Dollar against six major currencies, jumped higher ahead of the US (US) trading session on Thursday (6/2), trading slightly above 108.00 at the time of writing. The move came after comments from US President Donald Trump expressing his intention to take over Gaza and reach a nuclear deal with Iran. In addition, a plan to end the war in Ukraine may be put forward this week or next by the Trump administration as well. On the economic data front, comments from US Treasury Secretary Scott Bessent sparked some support in US...
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....