Gold climbs in the early Asian session amid safe-haven demand spurred by new credit-fraud fears. Regional banks in the U.S. came under renewed scrutiny Thursday after Zions Bancorp said it would take a large loss and revealed accusations of fraud against a set of borrowers who had ties to a number of other lenders in the industry. Safe-haven demand also comes amid intensifying trade frictions and expectations of further Fed monetary easing, says Bas Kooijman, CEO and asset manager at DHF Capital, in an email. Spot gold rises 0.9% to $4,366.29/oz after earlier touching a fresh record...
The U.S. dollar advanced to one-year high against major currencies on Wednesday powered by so-called Trump trades and after U.S. inflation for October came in as expected, suggesting the Federal Reserve will continue lowering interest rates. The greenback hit its highest level since November 2023, buoyed by Donald Trump's victory in last week's U.S. presidential election, which sparked expectations of potentially inflationary tariffs and other measures by his incoming administration. Trump's Republican Party will also control both houses of Congress when he takes office in January, Edison...
Oil edged higher after swinging between gains and losses for much of the session as traders weighed mixed signals about the risks to flows from the Middle East against the prospect of an impending supply glut. West Texas Intermediate added 0.5% to settle above $68 a barrel, while Brent settled around $72. WTI had gained as much as 1.1% and slid as much as 1.7% during the session. Crude fell earlier in the day on unconfirmed reports that Iran may hold off on retaliating against Israel, said Dan Ghali, a commodity strategist at TD Securities. Prices rebounded later after...
Gold prices extended losses for the fourth straight session on Wednesday, weighed down by a stronger dollar and elevated bond yields on news that October U.S. consumer prices increased as expected. The Labor Department also reported slower progress toward low inflation since mid-year, which could result in fewer interest rate cuts from the Federal Reserve next year. Spot gold was down 0.7% at $2,580.39 per ounce by 01:49 p.m. ET (1849 GMT), after hitting a near two-month low earlier in the session. U.S. gold futures settled 0.8% lower at $2,586.50 per ounce. The dollar, advanced near a...
Gold futures fall 0.4% to $2,596.30 a troy ounce. The precious metal had risen earlier in European trading, but looks set to end a fourth consecutive session down. The precious metal has faced significant downward pressure since Donald Trump won the U.S. presidential election. The U.S. dollar and Treasuries significantly rose after Trump's victory, reducing the appeal of non-yielding safe-havens like bullion. Trump's planned tax cuts and tariffs are also viewed as likely to boost inflation, decreasing the chances of further sizeable Federal Reserve interest rate cuts. Meanwhile, the latest...
Oil edged higher, but prices remain broadly stuck in a narrow band, as traders weigh the outlook for consumption and a possible oversupply next year. Brent crept above $72 a barrel in London after ending little changed on Tuesday, near its lowest level this month. Crude's slight gain coincided with a respite from an election-driven dollar rally that has made commodities less attractive for some buyers. Oil prices remain thoroughly rangebound though, trading in a band of a little over $5 for close to a month as traders weigh the outlook for next year. OPEC shaved...
Gold edged higher following a bruising run that came after Donald Trump's election win spurred a rally in the dollar. A gauge of the greenback has risen to its highest level in almost two years, making gold and other commodities priced in dollars more expensive for most buyers. Hedge funds have been unwinding bullish wagers on the precious metal and exchange-traded fund flows turned less supportive amid a widespread rotation into US equities. Bullion has slipped more than 6% from an all-time high on Oct. 31, but is still up by over a quarter this year. It has been...
Gold prices (XAU/USD) attracted some buyers during the Asian session on Wednesday (13/11) and for now, seems to have snapped three consecutive days of declines to the lowest level since September 20, around the $2,590-$2,589 region touched the previous day. The uptick lacked any obvious fundamental catalyst and could be attributed to some repositioning activity ahead of the US consumer inflation figures. The key data could influence expectations about the Federal Reserve's (Fed) interest rate cut path and provide a fresh directional impetus to the non-yielding yellow metal. Ahead of the key...
Gold prices edged up on Wednesday as investors hunted for bargains after steep declines in the previous session, while spotlight shifted to U.S. inflation print, which could shed more light on the Federal Reserve's monetary policy path. Spot gold rose 0.4% at $2,608.18 per ounce by 0200 GMT, after hitting its lowest since Sept. 20 on Tuesday. U.S. gold futures was up 0.3% at $2,614.10. There is currently some bargain hunting going on as prices fell below the $2,600 mark. Recent sessions saw gold negatively impacted due to a stronger dollar, driven by expectations of inflationary Trump...
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....