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 oil futures declined 1% to settle at $77.89 per barrel and Brent crude oil futures fell 0.6% to settle at $80.79 per barrel on Friday, driven by expectations of a ceasefire agreement in Gaza, which could reduce attacks on ships by Yemen's Houthi militia. Despite this drop, oil prices marked a fourth consecutive week of gains, rising more than 1%, primarily fueled by concerns over new U.S. sanctions targeting Russian oil producers and tankers, raising fears of tighter global oil supplies. Analysts highlighted that these concerns, coupled with expectations of U.S. interest rate...
WTI crude oil futures fell to $78 per barrel and Brent crude oil futures fell below $81 per barrel on Friday but remained on track for a fourth consecutive week of gains, driven by concerns over US sanctions on Russian energy. Last week, the Biden administration imposed broader sanctions targeting Russian oil producers and tankers, raising fears of supply disruptions. Investors are also watching for potential impacts from President-elect Donald Trump's return to office, as his Treasury pick has signaled tougher sanctions on Russia. Meanwhile, expectations of a ceasefire deal in Gaza, which...
The US dollar edged higher Friday, but was on course for a weekly loss after core inflation eased, while sterling retreated following the release of weak retail sales data. At 04:30 ET (09:30 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% higher to 108.930, but was set for a drop of about 0.5% in the week, which would snap a six-week winning streak. The dollar has retreated this week after cooler than expected inflation data raised the possibility of easier monetary policy this year, even after policymakers at the Federal Reserve...
Gold (XAU/USD) prices maintained their negative bias through the first half of the European session on Friday, albeit lacked any follow-through selling and remained near one-month highs touched the previous day. The US Dollar (USD) regained some positive traction and for now, seems to have snapped three consecutive days of losing streak amid growing acceptance that the Federal Reserve (Fed) will pause its interest rate-cutting cycle later this month. This, along with a generally positive tone around equity markets, turned out to be the key factors undermining the precious metal. Meanwhile,...
Gold price (XAU/USD) enters a bullish consolidation phase during the Asian session on Friday and oscillates in a range around the $2,715 region, just below a one-month high touched the previous day. Expectations that softer inflation in the US will allow the Federal Reserve (Fed) to cut interest rates further this year led to the recent decline in the US Treasury bond yields and the US Dollar (USD). This, in turn, is seen as a key factor that continues to underpin the non-yielding yellow metal and supports prospects for additional gains. That said, easing fears about US President-elect...
Silver price (XAG/USD) holds steady after three consecutive days of gains, trading near $30.80 per troy ounce during the Asian session on Friday. The industrial demand for the grey metal may rise further, supported by strong economic data from China. China's Industrial Production grew by 6.2% year-over-year in December, exceeding market expectations and the 5.4% growth rate recorded in November. This marks the fastest industrial output growth since April, driven largely by stronger manufacturing activity following stimulus measures introduced in September.Additionally, China's Gross...
The U.S. dollar weakened against the yen on Thursday, as softer-than-expected U.S. economic data and growing confidence for a Bank of Japan interest-rate hike sent it tumbling to a near one-month low against the Japanese currency. Recent remarks from BOJ Governor Kazuo Ueda and his deputy Ryozo Himino have made clear that a hike will at least be discussed at next week's policy meeting. Markets see about a 79% chance of a 25-basis-point increase. Japan's annual wholesale inflation held steady at 3.8% in December on stubbornly high food costs, data showed on Thursday. The greenback was down...
US benchmark West Texas Intermediate (WTI) crude oil prices were trading around $77.85 on Friday (17/1). WTI prices fell slightly as Houthi attacks in the Red Sea were expected to halt after a ceasefire deal in the Gaza war between Israel and the Hamas militant group was reached. Maritime security officials said on Thursday that they expected the Houthi militia to announce an end to its attacks on ships in the Red Sea. "The Houthi developments and the ceasefire in Gaza are helping to keep the region calm, taking some of the safety premium off oil prices," said John Kilduff, a partner at...
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....