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 (XAU/USD) price traded with slight losses near $2,690 against the broadly stronger US Dollar (USD) during the early Asian session on Monday (13/1). However, safe-haven demand due to uncertainty surrounding the policies of President-elect Donald Trump's administration could help limit Gold's decline. A stronger-than-expected US employment data on Friday reinforced expectations that the US Federal Reserve (Fed) may not cut interest rates aggressively this year. This, in turn, weighed on non-yielding assets. Traders expect the Fed to cut interest rates by only 30 basis points (bps) this...
The AUD/USD pair held steady around 0.6145 during the early Asian session on Monday. The US jobs growth came in stronger than expected in December, supporting the US Dollar (USD) across the board. The data released by the US Bureau of Labor Statistics (BLS) on Friday showed that Nonfarm Payrolls (NFP) rose by 256K in December, compared to an increase of 212K (revised from 227K) seen in November. This reading beat the market expectation of 160K by a wide margin. Meanwhile, the Unemployment Rate fell to 4.1% in December from 4.2% in November. Lastly, annual wage inflation, as measured by the...
WTI crude oil futures advanced 3.6% to settle at $76.57 per barrel on Friday, levels not seen since October, as fresh U.S. sanctions on Russia's oil sector, sparked concerns about global supply disruptions. The U.S. Treasury's sanctions target Russian oil producers Gazprom Neft and Surgutneftegas, as well as over 180 vessels, oil traders, and energy officials, aiming to restrict Russia's oil trade and escalate geopolitical risks. Additionally, colder U.S. weather has heightened demand for heating fuels, further supporting oil prices. Analysts from Goldman Sachs and UBS predict that supply...
The U.S. dollar rallied on Friday after data showed the world's largest economy created more jobs than expected last month, reinforcing expectations that the Federal Reserve will pause its rate-cutting cycle at its policy meeting later this month. The greenback also extended gains following a report that showed U.S. consumer inflation expectations for the next year and beyond jumped in January. The dollar rose to its highest since July against the yen after the data, before turning lower on the day. It was last down 0.1% at 157.845 yen . The euro, on the other hand, dropped to its lowest...
Gold price rebounded off daily lows on Friday, extending its rally for the fourth consecutive day as traders shrugged off a strong United States (US) Nonfarm Payrolls report. This tempered the Federal Reserve's (Fed) concerns about the labor market, but not so much inflation as some officials acknowledged. The XAU/USD trades at $2,687, up 0.69%. Bullion fell sharply after the US Bureau of Labor Statistics (BLS) revealed that the economy added an outstanding number of people to the workforce, topping 200K. As a consequence, the Unemployment Rate dipped, while investors priced in fewer...
Oil prices jumped more than 4% on Friday to their highest since October as traders focused on potential supply disruptions from further sanctions on Russia. Brent crude futures rose $3.50, or 4.6%, to $80.42 a barrel by 1422 GMT, hitting $80 a barrel for the first time since Oct. 7. U.S. West Texas Intermediate crude futures rose $3.57, or 4.8%, to $77.49. The United States is set to impose some of the toughest sanctions on Russia's oil industry to date, designating 180 vessels, dozens of traders, two major oil companies and several Russian oil executives, according to a document seen by...
Gold (XAU/USD) price is set to close the week on a high note as it trades for the fourth straight day of gains. The upbeat nonfarm payrolls figure came in at 256,000 jobs, which was very close to the maximum expected gain of 260,000. The figure was enough to stoke further inflation concerns, with markets pricing in a Federal Reserve (Fed) rate cut as early as October 2025, compared to July earlier this week. Source: FXStreet
Silver (XAG/USD) prices rose near $31.30 during the European session on Friday. The white metal strengthened ahead of the United States (US) Nonfarm Payroll (NFP) data for December, due to be released at 13:30 GMT. The labor market data will influence market expectations on whether the Federal Reserve (Fed) will continue its cautious stance on further policy easing. The NFP report is expected to show that the US economy added 160,000 new jobs in December, down from 227,000 in November. The Unemployment Rate is expected to remain steady at 4.2%. Investors will also be watching the Average...
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....