The US dollar and Treasury yields fell after Zions Bancorp and Western Alliance admitted to fraudulent lending to funds investing in troubled commercial mortgages. The Bloomberg Dollar Spot Index weakened 0.1% (the fourth straight day) and is heading for its worst week since July. The bond rally pushed the 2-year yield to its lowest level since September 2022, and the 5-year yield to its lowest since October 2024. "The USD moved lower as yields fell and regional bank concerns increased," said Mahjabeen Zaman (ANZ). USD/JPY briefly fell 0.3% to 149.93, breaking below 150 for the first time...
Gold moved higher mid-afternoon on Wednesday, climbing for a third day as increasing international tensions prompt safe-haven buying after the Biden Administration permitted Ukraine to fire U.S.-made missiles into Russia and Moscow responded by lowering its policy threshold for the use of nuclear weapons. Gold for December delivery was last seen up US$20.90 to US$2,651.90 per ounce. The dollar rose even as the dollar and treasury yields climbed. The ICE dollar index was last seen up 0.55 points to 106.75. A stronger dollar is bearish for commodities priced in the currency. Treasury yields...
Gold prices climbed for a third consecutive session to mark a one-week high on Wednesday, as investors sought refuge in the safe-haven metal amid mounting geopolitical unease fueled by escalating Russia-Ukraine tensions. Spot gold was up 0.6% at $2,646.79 per ounce, after hitting its highest level since Nov. 11 earlier in the session. U.S. gold futures gained 0.8% at $2,650.60. Geopolitical tensions intensified as Russian President Vladimir Putin broadened the scope for nuclear strikes. "Clearly that's sparked safe-haven interest," said Peter Grant, vice president and senior metals...
Silver prices eased to around $31 per ounce on Wednesday as concerns over the escalating Russia-Ukraine conflict began to subside. On Tuesday, silver briefly rose above $31.50 after Russia lowered its threshold for a potential nuclear strike. However, market fears eased after Russian Foreign Minister Sergei Lavrov stated that the country would "do everything possible" to avoid nuclear war, and the US indicated it saw no reason to adjust its nuclear policy. Investors are now focused on upcoming remarks from US Federal Reserve officials, which could influence the dollar and, in turn,...
The U.S. dollar slipped to a one-week low versus major peers on Wednesday, looking to extend a three-day decline from a one-week peak as the market catches its breath following the frantic rally in the wake of Donald Trump's election. The previous day's boost to the dollar and other traditional safe-haven currencies like the yen proved short-lived, after Russia's foreign minister said the country will "do everything possible" to avoid the onset of nuclear war, hours after Moscow announced it would lower its threshold for a nuclear strike. Bitcoin crept up towards the fresh all-time peak...
Gold futures fell after hitting their highest level in more than a week. Futures were down 0.2% at $2,625 an ounce. Trading in the precious metal was cautious given rising U.S. bond yields and a stronger dollar, which could weigh on prices in the coming weeks, said Rania Gule of XS.com. Despite the decline, gold continues to retain its appeal as a safe haven, Gule said in a note. Rising geopolitical tensions between Russia and Ukraine remain a key factor supporting gold prices, reflecting persistent fears of escalation, Gule wrote. Still, the market is in a state of anticipation, as a...
Oil was steady as an industry report signaled a build in US crude inventories ahead of government figures. Brent traded near $73 a barrel after closing slightly higher on Tuesday, and West Texas Intermediate was above $69. The American Petroleum Institute reported crude stockpiles expanded by 4.8 million barrels last week while fuel supplies fell, according to a document seen by Bloomberg. The Energy Information Administration is scheduled to release its data on inventories, refining and fuel demand later on Wednesday. Oil has swung between gains and losses since...
The Australian dollar climbed above $0.653 on Wednesday, marking its fourth straight session of gains, supported by a weaker US dollar and a hawkish outlook on Reserve Bank of Australia policy. The greenback ran into some profit-taking in recent sessions following a strong rally, while investors awaited news on US President-elect Donald Trump's pick for Treasury Secretary. On the domestic front, minutes from the RBA's November policy meeting indicated that the central bank intends to maintain a restrictive monetary policy until it is confident that inflation is sustainably moving toward its...
Gold price (XAU/USD) attracts some follow-through buying for the third consecutive day on Wednesday and climbs to a one-and-half-week high, around the $2,641-2,642 region during the Asian session. Mounting Russia-Ukraine tensions continue to boost demand for traditional safe-haven assets, which, along with subdued US Dollar (USD) price action, act as a tailwind for the precious metal. That said, the overnight comments from Russian and US officials helped ease market concerns about the onset of a full-blown nuclear war, which is evident from a generally positive tone around the equity...
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....