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...
Gold price surged above the $2,700 mark on Thursday as the Greenback trimmed some of its earlier gains. Data from the United States (US) revealed that the economy remains solid after the release of consumer spending figures and jobs data. US bond yields fell as traders expect further easing by the Federal Reserve (Fed). At the time of writing, the XAU/USD trades at $2,715, up 0.72%. Bullion extended its gains as market participants prepare for US President-elect Donald Trump's inauguration. The US Census Bureau revealed that Retail Sales fell short of estimates in December. However,...
Oil futures pull back from five-month highs reached on supply concerns around U.S. sanctions and winter heating fuel demand. "Crude oil finally caved under pressure from an overbought RSI," Mizuho's Robert Yawger says in a note, referring to the relative strength index. "Positioning is driving energy prices lower today. There is no associated bearish red headline." Crude maintains support from demand for heating oil, which held out for a 0.1% gain as an Arctic blast is expected over large parts of the U.S. in the coming week. The WTI front month settles down 1.7% at $78.68, and Brent falls...
Gold traded at the highest in a month mid-afternoon on Thursday, climbing for a third day as the dollar and yields moved lower after U.S. retail sales rose less than expected last month. Gold for February delivery was last seen up US$34.50 to US$2,752.30 per ounce, the highest since Dec.11. The U.S. Commerce Department on Thursday reported retail sales rose by 0.4% in December, down from a revised 0.8% in November and under expectations for a 0.5% monthly rise according to Marketwatch. The data follows on a slight drop in the core Consumer Price Index, excluding food and energy, reported...
Gold rose to its highest in a month after a surprise slowdown in U.S. inflation revived expectations for a Federal Reserve interest rate cut this year. Bullion traded at more than $2,700 an ounce after the consumer price index — which excludes food and energy costs — rose 0.2% after a 0.3% increase over four months. That suggests U.S. officials may have room to ease policy sooner than previously thought. Source: Bloomberg
The U.S. dollar steadied on Thursday despite the sharp fall in U.S. bond yields after Wednesday's inflation data as market focus shifted to Donald Trump's presidential inauguration and possible inflationary impact of his policies. Meanwhile the yen rose against the dollar and the euro as investors expected the Bank of Japan to hike rates next week. Core U.S. inflation dipped to 0.2% month-on-month in December from 0.3% in November, as expected, while the annualised 4.2% reading came below the 3.3% forecast. Traders who have been growing more worried about inflation responded with relief,...
Oil prices gained for a second session on Thursday, supported by worries over potential supply disruptions amid U.S. sanctions on Russia, a larger-than-forecast fall in U.S. crude oil stocks, and an improving global demand outlook. Brent crude futures rose 23 cents, or 0.3%, to $82.26 per barrel by 0731 GMT, after rising 2.6% in the previous session to their highest since July 26 last year. U.S. West Texas Intermediate crude futures rose 28 cents, or 0.4%, to $80.32 a barrel, after gaining 3.3% on Wednesday to their highest since July 19. U.S. crude oil stocks fell last week to their...
Silver prices (XAG/USD) rose on Thursday, according to FXStreet data. Silver trades at $30.90 per troy ounce, up 0.61% from the $30.71 it cost on Wednesday. Silver prices have increased by 6.94% since the beginning of the year. Source: Fxstreet
Gold price (XAU/USD) seesaws between tepid gains/minor losses through the early European session and consolidates its recent gains to over a one-month peak touched this Thursday. Growing acceptance that the Federal Reserve (Fed) will pause its rate-cutting cycle late this month assists the US Dollar (USD) to move away from a one-week low touched on Wednesday. This, along with the prevalent risk-on mood, turns out to be a key factors acting as a headwind for the safe-haven precious metal. That said, signs of abating inflationary pressures in the US suggest that the Fed may not necessarily...
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....