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...
GBP/USD continues to gain ground for the second successive session, trading around 1.2430 during the Asian hours on Tuesday. The pair improved amid improved risk-on sentiment after US President Donald Trump announced late Monday that he would pause tariffs on Mexico and Canada. However, market volatility remains a concern, with investors closely monitoring developments in ongoing tariff negotiations. President Trump stated that he would suspend steep tariffs on Mexico and Canada after their leaders agreed to deploy 10,000 soldiers to the US border to combat drug trafficking. The tariffs...
The Japanese yen fell past 155 per dollar on Tuesday, struggling to regain momentum as the suspension of U.S. tariffs on Mexico and Canada reduced demand for the safe-haven currency. On Monday, U.S. President Donald Trump agreed to "immediately pause" planned tariffs on Mexico and Canada for a month after successful negotiations with their respective leaders. Markets are also becoming more optimistic that the U.S. and China could strike a deal to prevent the 10% tariffs on Chinese imports set to take effect later today. In Japan, investors are focusing on Wednesday's release of wage...
Gold traded above $2,810 per ounce on Tuesday, hovering near a record-high hit in the previous session, supported by safe-haven demand amid global trade uncertainties Markets continued to navigate the implications of U.S. tariffs, as President Donald Trump agreed to delay duties on Mexico and Canada for a month after the leaders of both countries took steps to address his concerns about border security and drug trafficking. Tariffs of 10% are still set to be imposed on China today, though Trump said he'd hold further talks to Beijing. The inflationary impact of tariffs could further...
Silver price (XAG/USD) continues its upward momentum, reaching near two-month highs and trading around $31.60 per troy ounce during Asian trading hours on Tuesday. Safe-haven metals, including Silver, are gaining ground as traders assess the potential impact of uncertain United States (US) trade policies on the global economy. On Monday, US President Donald Trump announced a temporary suspension of tariffs on Mexico and Canada after their leaders agreed to deploy 10,000 troops to the US border to combat drug trafficking. The tariffs initially imposed two days earlier—25% on Mexican and...
Gold held steady near a record high as President Donald Trump's tariff threats and subsequent delays raised uncertainty and supported higher demand for the precious metal. Bullion hit an all-time peak above $2,830 an ounce on Monday before paring gains to close up 0.6% after Trump said he would temporarily suspend 25% levies on Canada and Mexico for a month. The abrupt change sent the dollar retreating from its highest level in more than two years, making the precious metal cheaper for most buyers. There is still much uncertainty in the market about what will happen, tempering gold's...
The Australian Dollar (AUD) rebounds on Tuesday, ending its six-day losing streak as the AUD/USD pair rises amid a weakening US Dollar (USD). The USD depreciated after US President Donald Trump announced late Monday that he would pause tariffs on Mexico and Canada. However, market volatility remains a concern as investors closely watch developments in the ongoing tariff negotiations with China, Australia's key trading partner. President Trump stated that he would suspend steep tariffs on Mexico and Canada after their leaders agreed to deploy 10,000 soldiers to the US border to combat drug...
U.S. West Texas Intermediate (WTI) crude prices were down by 1.1%, or 0.80 cents, to $72.36 at 2323 GMT after U.S. President Donald Trump agreed to pause imposing steep tariffs on Mexico and Canada for one month. Both Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum said they had agreed to bolster border enforcement efforts in response to Trump's demand to crack down on immigration and drug smuggling. That would pause 25% tariffs due to take effect on Tuesday for 30 days. Canada and Mexico are the biggest oil suppliers to the United States, the world's top...
U.S. West Texas Intermediate (WTI) crude prices were down by 1.1%, or 0.80 cents, to $72.36 at 2323 GMT after U.S. President Donald Trump agreed to pause imposing steep tariffs on Mexico and Canada for one month. Both Canadian Prime Minister Justin Trudeau and Mexican President Claudia Sheinbaum said they had agreed to bolster border enforcement efforts in response to Trump's demand to crack down on immigration and drug smuggling. That would pause 25% tariffs due to take effect on Tuesday for 30 days. Canada and Mexico are the biggest oil suppliers to the United States, the world's top...
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....