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...
WTI crude rose more than 1% to $74 a barrel on Tuesday, boosted by supply risks in Libya despite concerns over potential U.S. trade tariffs. Protesters have demanded the closure of two key Libyan ports, Ras Lanuf and Es Sider, threatening significant disruptions to crude exports. The shutdown could affect hundreds of thousands of barrels starting Tuesday. Meanwhile, President Trump has expressed support for higher tariffs of 2.5% on foreign-made goods, including steel, aluminum and copper. This follows a 2% drop in crude prices on Monday due to weak Chinese manufacturing data and global...
The USD/CHF pair rebounded strongly, edging above the key hurdle of 0.9050 during the North American trading hours on Tuesday (1/28) after a two-week correction near 0.8965. The Swiss Franc pair strengthened as the US Dollar (USD) continued its upward journey amid a nervous market environment. The US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, surged near 108.00. Investors rushed to the US Dollar as global technology stocks slumped on the assumption that China's DeepSeek's low-cost Artificial Intelligence (AI) model will narrow the technology gap...
Gold prices (XAU/USD) are facing pressure for the second straight day, trading around $2,735 at the time of writing on Tuesday (1/28), following a more than 1% drop the previous day after Chinese AI startup DeepSeek rocked the market. The results were not small, with over $550 billion in market capitalization wiped out for Nvidia alone. Given the sensitivity of technology, cryptocurrencies such as Bitcoin also suffered, with Bitcoin (BTC) losing over 6.5% at one point among the victims of spillover in the financial market asset class. This has benefited US President Donald Trump, who has...
The pound (GBP) fell below 1.2450 against the US dollar (USD) in the European session on Tuesday (28/1) after failing to break above the psychological resistance of 1.2500. GBP/USD fell sharply as the US dollar's safe-haven appeal increased amid a gloomy market mood. The US dollar index (DXY), which tracks the greenback against a basket of six major currencies, surged near 108.00 after a sharp sell-off in power companies, data centers and chatbot companies worldwide has boosted its safe-haven appeal. Global tech stocks plunged amid concerns that China's DeepSeek Artificial Intelligence...
Silver prices fell to around $30 an ounce on Tuesday (1/28), extending losses from the previous session as the dollar strengthened amid increasing tariff threats from U.S. President Donald Trump. Trump unveiled plans to impose tariffs on imported chips, pharmaceuticals, steel, aluminum and copper in an effort to boost domestic production. Traders also remained cautious ahead of a Feb. 1 deadline for the first round of tariffs targeting China, Mexico and Canada, as previously announced by the president. Meanwhile, investors are preparing for this week's U.S. Federal Reserve policy decision,...
The Japanese Yen (JPY) remained weaker against its American rival, with the USD/JPY pair eyeing the 156.00 level during the early European session on Tuesday (1/28). US President Donald Trump reiterated his push for higher universal tariffs, which could reignite inflationary pressures in the US. This, in turn, triggered a modest recovery in the US Treasury bond yields, which undermined the lower-yielding JPY and revived the demand for the US Dollar (USD). In fact, the USD Index (DXY), which tracks the Greenback against a basket of currencies, staged a solid rebound from its lowest level...
The EUR/USD pair extended its overnight modest retracement slide from the 1.0530-1.0535 region, or its highest level since December 17, and triggered a major follow-through sell-off during the Asian session on Tuesday (1/28). The spot price is currently trading around the 1.0430 region, down over 0.50% for the day and seems vulnerable to weakening further amid a strong pickup in the US Dollar (USD) demand. Investors remain concerned that US President Donald Trump's trade tariffs will reignite inflation concerns, which triggered a modest recovery in the US Treasury bond yields. This, in...
Gold price (XAU/USD) attracts some sellers following an Asian session uptick to the $2,745 area and turns lower for the second straight day on Tuesday amid a goodish pickup in the US Dollar (USD) demand. US President Donald Trump's trade tariff threats revive inflationary concerns and trigger a modest recovery in the US Treasury bond yields. This, in turn, assists the USD in staging a solid bounce from its lowest level since December 18 touched on Monday and undermines the USD-denominated bullion. However, bets that the Federal Reserve (Fed) would lower borrowing costs twice by the end of...
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....