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 traded higher mid-afternoon on Wednesday as the dollar and yields fell after a U.S. inflation measure rose more than expected last month. Gold for February delivery was last seen up US$35.80 to US$2,718.10 per ounce, the highest since Dec.11. The U.S. Bureau of Labor Statistics said the Consumer Price Index (CPI) rose by 0.4% in December, up from 0.3% in November and ahead of the consensus estimate for a rise of 0.3%, according to FactSet. Core CPI, excluding food and energy, rose 3.2% annualized, under the consensus outlook for a 3.3% rise. Though the Federal Reserve is still widely...
The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, is heading lower on Wednesday in the US Consumer Price Index (CPI) release aftermath. Numbers came in either in line or a touch softer than expected, which is perceived as disinflationary. Although it was not a stellar surprise as on Tuesday with the Producer Price Index (PPI), where all data points came in lower or at the lowest estimate, the CPI reading is enough to bring back that initial Federal Reserve rate cut for 2025 from September to July. For the remainder of this Wednesday all eyes will...
Gold rose to the $2,690 per ounce mark on Wednesday, extending gains from the prior session to its highest in over one month as cooling underlying inflation in the US favored bets of less restrictive monetary policy by the Fed this year. Core consumer inflation unexpectedly slowed on an annual basis, while headline consumer prices refrained from showing aggressive upside surprises. The results supported bullion and Treasuries across all durations as progress in disinflation would allow FOMC members to ease monetary restriction, lowering the opportunity cost of holding non-yielding...
Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data. Silver trades at $30.09 per troy ounce, up 0.64% from the $29.90 it cost on Tuesday. Silver prices have increased by 4.13% since the beginning of the year. Source: FXstreet
Silver prices held steady near $30 an ounce on Wednesday as investors awaited a key US inflation report that could influence the Federal Reserve's interest rate decision later this month. Earlier this week, silver faced downward pressure as stronger-than-expected US jobs data dampened expectations for further Fed rate cuts this year. Despite the recent pullback, the metal's value continues to be supported by strong industrial demand, particularly in renewable energy and electronics technologies, as well as ongoing supply concerns. In addition, investors remain hopeful that major consumer...
The Australian Dollar (AUD) held steady on Wednesday after two consecutive days of gains against the US Dollar (USD). The AUD/USD pair benefited from the risk-on market sentiment, supported by strong trade data from China, Beijing's efforts to stabilize the Yuan, and rising commodity prices. Traders are awaiting Australian employment data, scheduled for release later this week, for further insights on the Reserve Bank of Australia's (RBA) policy direction. Investor confidence is growing as US President-elect Donald Trump's economic team considers gradually increasing import tariffs. This...
Gold (XAU/USD) prices reversed an intraday dip to $2,669 area and turned positive for the second straight day on Wednesday, although the upside seemed limited ahead of the US Consumer Price Index (CPI) report. The US Dollar (USD) held near weekly lows touched in reaction to Tuesday's weaker US Producer Price Index (PPI) and turned out to be a key factor lending support to the commodity. Meanwhile, easing concerns over disruptive trade tariffs from US President-elect Donald Trump remained supportive of the risk sentiment – as depicted by a generally positive tone around the equity...
Oil prices were little changed on Wednesday, after falling the previous day, as a dip in U.S. crude stockpiles and expectations of supply disruptions from sanctions on Russian tankers lent support amid forecasts for lower global fuel demand. Brent crude futures were up 2 cents to $79.94 a barrel by 0205 GMT, after dropping 1.4% in the previous session. U.S. West Texas Intermediate crude rose 12 cents, or 0.15%, to $77.62 a barrel after a 1.6% drop. Prices slipped on Tuesday after the U.S. Energy Information Administration predicted oil will be under pressure over the next two years as...
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....