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 prices fell to around $2,670 an ounce on Wednesday (1/15), reversing gains from the previous session as investors turned cautious ahead of US consumer inflation data due later in the day. Signs of rising inflation could spur a further cautious adjustment to expectations for a Federal Reserve interest rate cut. On Tuesday, the precious metal found some support after a weaker-than-expected US PPI report sparked faint hopes that the Fed may have room for additional rate cuts this year. Meanwhile, with President-elect Donald Trump set to begin his second term next week, attention is also...
Oil prices slipped on Tuesday after a U.S. government agency forecast steady U.S. oil demand in 2025 while lifting its forecast for supply. Declines were limited by new U.S. sanctions on Russian oil exports to India and China. Brent futures fell $1.09, or 1.35%, to settle at $79.92 a barrel. U.S. West Texas Intermediate (WTI) crude finished at $77.50 a barrel, down $1.32, or 1.67%. On Monday, prices jumped 2% after the U.S. Treasury Department on Friday imposed sanctions on Gazprom Neft and Surgutneftegas as well as 183 vessels that transport oil as part of Russia's so-called shadow fleet...
Gold edged higher mid-afternoon on Tuesday as the dollar fell after a U.S. inflation measure rose less than expected last month, while a report said the Trump Administration plans to gradually introduce tariffs on U.S. imports. Gold for February delivery was last seen up US$4.70 to US$2,683.30 per ounce. The U.S. Bureau of Labor Statistics reported the Producer Price Index (PPI) rose 0.2% in December from the prior month, under expectations for a monthly rise of 0.3%, according to FactSet. The data comes ahead of Wednesday's release of the U.S. December Consumer Price Index, which is...
Gold prices rose on Tuesday, helped by a softer U.S. dollar and inflationary risks posed by President-elect Donald Trump's potential tariff policies, which could influence the pace of Federal Reserve monetary policy easing this year. Spot gold rose 0.3% to $2,669.09 per ounce as of 0932 GMT. U.S. gold futures gained 0.2% to $2,683.20. "This news led to a slight decline in U.S. Treasury yields and a weakening of the dollar." The dollar index fell 0.4% from a more than two-year high hit in the last session as traders scaled back U.S. rate cut bets for 2025 after a strong jobs report. A...
The US dollar fell Tuesday amid uncertainty over Trump's tariffs policy, but remained near two-year highs ahead of the release of the first of the week's key inflation data. At 04:15 ET (09:15 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.4% lower to 109.325, after climbing to a 26-month high on Monday. The dollar slipped from its highs Tuesday following a Bloomberg report that suggested the Trump administration could take a gradual approach to tariffs. The Federal Reserve cut the number of rate cuts projected for 2025 to two at its...
WTI crude fell to around $78.1 a barrel on Tuesday after a three-day rally. On Monday, crude hit a five-month high as tighter U.S. sanctions on Russia's energy industry threatened global supplies. The restrictions have targeted major producers and hundreds of ships and tankers, forcing major buyers such as India and China to look for alternative sources. Early signs of disruption are already visible, with a senior Indian official saying sanctioned ships would be barred from unloading, and China securing oil supplies from the UAE and Oman. In a related move, six European countries asked the...
The Australian Dollar (AUD) continued its gains against the US Dollar (USD) for the second straight day on Tuesday, rising from 0.6131, its lowest level since April 2020. The AUD/USD pair strengthened as the AUD benefited from strong commodity prices. US President-elect Donald Trump's economic team believes that gradually increasing import tariffs is boosting investor confidence, supporting risk-sensitive currencies such as the AUD and contributing to the appreciation of the AUD/JPY pair. Source: FXStreet
Gold (XAU/USD) prices maintained their positive bias through the early European session on Tuesday, albeit lacked bullish conviction and remained below one-month highs touched the previous day. Reports that US President-elect Donald Trump's top economic adviser is considering a gradual tariff hike to prevent a sudden spike in inflation triggered a modest pullback in the US Treasury bond yields. This, in turn, kept the US Dollar (USD) pressured below two-year highs touched on Monday and provided some support to the commodity. Meanwhile, easing concerns about disruptive trade tariffs under...
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....