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 finally rebounded after two consecutive days of pressure. This slight increase occurred as market participants began to reconsider the chances of an interest rate cut by the Federal Reserve next month. Previously, market sentiment had been hit by weakening expectations that the Fed would soon lower borrowing costs. In recent days, several Fed officials have expressed a cautious outlook. They believe that inflation could slow for longer or stall again, making an interest rate cut imminent. Some officials, such as Jeff Schmid and Susan Collins, have even openly rejected a December...
Oil prices rose more than 2% on Friday (November 14th) as the Russian port of Novorossiisk halted oil exports following a Ukrainian drone attack on an oil depot in the Russian energy hub, sparking supply concerns. Brent crude futures closed up $1.38, or 2.19%, at $64.39 a barrel, while U.S. West Texas Intermediate crude settled up $1.40, or 2.39%, at $60.09 a barrel. Brent rose 1.2% for the week, and WTI posted a weekly gain of about 0.6%. Friday's attack damaged a ship at the port, an apartment block, and an oil depot in Novorossiisk, injuring three crew members, Russian officials...
Gold prices fell 3% on Friday (November 14th) due to a broader market sell-off, triggered by hawkish remarks from US Federal Reserve officials, which dimmed hopes of a December interest rate cut. Spot gold prices fell 1.9% to $4,092.72 an ounce, as of 2:33 PM ET (19:33 GMT), after falling more than 3% earlier in the session. However, bullion is up 2.3% so far this week. US gold futures for December delivery closed 2.4% lower at $4,094.20. "The notion that we're going to see a smaller chance of a Fed rate cut in December is what's weakening the gold and silver markets," said David Meger,...
Oil prices rose nearly 2% on Friday (November 14th), driven by supply concerns after the Black Sea port of Novorossiisk halted oil exports following a Ukrainian drone attack on an oil depot in Russia's key energy hub. Brent crude futures rose $1.04, or 1.65%, to $64.05 a barrel at 14:28 GMT, while U.S. West Texas Intermediate crude rose $1.15, or 1.96%, to $59.84 a barrel. The contracts were more or less stable this week. At those levels, Brent was headed for a weekly gain of about 0.7% and WTI was up slightly by 0.15%. Friday's attack damaged a ship at the port, an apartment block, and an...
Gold fell as optimism that the Federal Reserve will cut interest rates next month was shaken by continued uncertainty over economic data, following the longest government shutdown in U.S. history. Expectations for a Fed rate cut declined as the week progressed, with Fed officials showing little confidence in reducing borrowing costs. Higher interest rates typically make non-yielding bullion relatively less attractive to investors. Traders are now divided on the likelihood of a December rate cut, having previously expected a quarter-point cut less than a month ago. Attention now turns to...
Oil prices climbed around 2% on Friday, boosted by supply fears after the Black Sea port of Novorossiysk halted oil exports following a Ukrainian drone attack that hit an oil depot in the major Russian energy hub. Brent crude futures were up $1.50, or 2.4%, at $64.51 a barrel by 1115 GMT, while U.S. West Texas Intermediate crude advanced $1.57, or 2.7%, to $60.26 a barrel. Friday's attack damaged a ship in port, apartment blocks and an oil depot in Novorossiysk, injuring three of the vessel's crew, Russian officials said. The port paused oil exports and oil pipeline monopoly Transneft...
The US dollar strengthened again in today's session after being pressured by news of the US government reopening and expectations that delayed economic data would show weakness. However, the increase came due to comments from Federal Reserve (The Fed) officials that were more hawkish than market expectations, particularly the statement that an interest rate cut was unlikely in the near future. The dollar's rise was also supported by a surge in US bond yields, which made dollar-denominated assets more attractive in terms of yield compared to other currencies. With rising Treasury yields, the...
Gold struggles to capitalize on its modest intraday gains, though the downside seems limited. Reduced bets for a December Fed rate cut act as a headwind for the non-yielding yellow metal. Economic concerns weigh on the USD and could support XAU/USD amid the risk-off impulse. Gold refreshes daily low as reduced Fed rate cut bets offset weaker USD, risk-off mood Gold (XAU/USD) attracts some sellers following an intraday move higher to levels beyond the $4,200 mark and drops to a fresh daily low during the early part of the European session on Friday. A growing number of Federal Reserve...
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....