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 prices climbed to a one-week high on Tuesday, buoyed by a softer U.S. dollar, while the market awaited comments from Federal Reserve officials for cues on the U.S. interest rate outlook. Spot gold rose 0.4% to $2,623.54 per ounce by 0246 GMT, the highest since Nov. 12. Prices rose 2% on Monday. U.S. gold futures gained 0.5% to $2,627.60. The U.S. dollar pulled back as profit-booking kicked in after last week's stellar rally. A weaker dollar makes bullion less expensive for buyers holding other currencies. The recent strong economic data has raised concerns on whether the Fed will...
Oil steadied after the biggest gain in more than five weeks as the dollar weakened and a risk-on tone swept across wider markets. Brent traded above $73 a barrel after surging 3.2% on Monday, while West Texas Intermediate was near $69. A gauge of the dollar headed for a third day of losses, making commodities priced in the currency less expensive for most buyers, and Asian shares followed Wall Street higher. Oil is still lower for the year as concerns around Chinese demand and plentiful global supply weigh on the outlook. The prompt spread for WTI — the difference...
Gold steadied, after jumping the most since August on Monday, with the market focused on the dollar and the Federal Reserve's interest-rate path. Bullion traded near $2,615 an ounce after surging 1.9% in the previous session, with the gains driven by a falling dollar and Treasury yields. The precious metal has been hit by the greenback rallying to a two-year high following Donald Trump's election win, as well as signs the Fed may have to slow the pace of rate cuts due to the inflationary policies the president-elect is pledging. However, Goldman Sachs reiterated its forecast for gold...
Oil steadied after the biggest gain in more than five weeks as the dollar weakened and a risk-on tone swept across wider markets. West Texas Intermediate traded near $69 a barrel after surging 3.2% on Monday, while Brent closed above $73. A gauge of the dollar fell for a second session, making commodities priced in the currency less expensive for most buyers, and Wall Street stocks climbed. Asian shares are poised to track higher. Oil is still lower for the year as concerns around Chinese demand and plentiful global supply weigh on the outlook. The prompt spread...
Gold prices soared on Monday, after six days of losses, as the U.S. dollar's surge stalled and heightened uncertainty over the Russia-Ukraine conflict rekindled safe-haven demand. Spot gold jumped 1.8% to $2,608.19 per ounce by 01:44 p.m. ET (1844 GMT), moving away from a two-month low on Thursday. U.S. gold futures settled 1.7% up at $2,614.60. Gold, which is considered a safe investment during economic and geopolitical turmoil, posted its steepest weekly drop in more than three years last week as President-elect Trump's proposed tariffs are seen as potential drivers of inflation, which...
Gold prices soared on Monday, after six days of losses, as the U.S. dollar's surge stalled and heightened uncertainty over the Russia-Ukraine conflict rekindled safe-haven demand. Spot gold jumped 1.9% to $2,608.88 per ounce by 10:17 a.m. ET (1517 GMT), moving away from a two-month low on Thursday. U.S. gold futures climbed 1.7% to $2,613.40. "Part of it is (President) Biden's announcement of long-range missiles for Ukraine to reach deeper into Russian territory. I think some of it is prompting safe-haven demand for gold," said Daniel Pavilonis, senior market strategist at RJO...
Silver prices climbed above $30.50 per ounce on Monday, recovering from two-month lows as the dollar rally stalled and investors reassessed the outlook for Federal Reserve monetary policy. The dollar faced a wave of profit-taking following its recent rally which was driven by expectations of fewer Fed rate cuts and optimism about US economic outperformance under the incoming Trump administration. Investors are now waiting for more comments from Fed officials this week for further guidance on the US interest rate path. Markets are also focused on China's upcoming LPR decision, with hopes that...
Oil edged higher but remained close to its lowest in almost seven weeks amid concerns about excess supply and weak Chinese demand. Global benchmark Brent inched up, after earlier dipping to its lowest level since the start of October, though it continued to trade below $72 a barrel following its tumble last week. A slower than usual selling pace for Angolan crude was the latest signal of weak Chinese demand, and the International Energy Agency has warned that global oil markets face a sizeable surplus next year. Oil has swung between gains and losses in...
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....