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 drifted lower to around $2,650 per ounce on Thursday, halting two days of gains as investors continued to assess the Fed's policy outlook ahead of key jobs data. The latest FOMC minutes indicated inflation is likely to slow this year, but policymakers noted the risk of persistent price pressures, partly due to Trump's policies. The central bank also signaled that it may be nearing a point to slow the pace of policy easing, reducing the appeal of the non-yielding metal. Meanwhile, gold found support after a weaker-than-expected private employment report for December, reinforced the...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $72.40 on Thursday. The WTI price edges lower amid the stronger US Dollar (USD). However, the concerns over supply disruptions might cap the downside for the WTI price. A strengthening of the Greenback exerts some selling pressure on the black gold as it makes oil more expensive for holders of other currencies. "The dollar's safe haven status is appreciated as fears of renewed U.S. inflationary pressure grow," said Tamas Varga, an analyst with oil broker PVM. US crude oil inventories fell for a seventh consecutive...
Oil prices fell more than 1% on Wednesday as a stronger dollar and large builds in U.S. fuel inventories last week pressured prices, reversing earlier gains driven by tightening supplies from Russia and other OPEC members. Brent crude settled down 89 cents, or 1.16%, to $76.23 a barrel. U.S. West Texas Intermediate crude fell 93 cents, or 1.25%, to $73.32. Both benchmarks had risen more than 1% earlier in the session. Gasoline stocks rose by 6.3 million barrels last week to 237.7 million barrels, compared with analysts' expectations in a Reuters poll for a 1.5 million-barrel build,...
Gold prices hit a near four-week high on Wednesday after a weaker-than-expected private employment report for December provided reassurance for some in the market the U.S. Federal Reserve may be less cautious about easing rates this year. Spot gold rose 0.3% to $2,657.38 per ounce, as of 02:15 p.m. ET (1915 GMT) and hit its highest since Dec. 13. U.S. gold futures settled 0.3% higher at $2,672.40. Weaker private payrolls "is contributing to gold's move, because ultimately, weaker employment numbers imply that the economy has been weaker than many had expected," said Bart Melek, head of...
The U.S. dollar strengthened on Wednesday, benefiting from rising bond yields after the release of healthy U.S. economic data, while weak German industrial orders weighed on the euro. At 4:35 AM ET (09:35 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was trading 0.3% higher at 108.690. Dollar strengthens on rising Treasury yields The dollar continued to strengthen on Wednesday, following the previous session's positive tone after data showed U.S. job openings rose unexpectedly in November, layoffs were low, while service sector activity...
Oil prices rose on Wednesday as supplies from Russia and OPEC members tightened while data showing an unexpected rise in U.S. job openings pointed to expanding economic activity and growing demand for oil as a result. Brent crude rose 37 cents, or 0.5%, to $77.42 a barrel by 0730 GMT. U.S. West Texas Intermediate crude rose 44 cents, or 0.6%, to $74.69. Oil output from the Organization of the Petroleum Exporting Countries fell in December after two months of increases, a Reuters survey showed. Field maintenance in the United Arab Emirates offset a rise in Nigerian output and increases...
Gold (XAU/USD) prices held on to modest intraday gains through the first half of the European session on Wednesday, albeit lacked bullish conviction and remained below the $2,665 resistance zone retested the previous day. Uncertainty surrounding US President-elect Donald Trump's tariff plans, trade war fears, geopolitical tensions, and softer risk tone turned out to be key factors that acted as a tailwind for the safe-haven bullion. However, the Federal Reserve's (Fed) hawkish shift, which kept the US Treasury bond yields elevated near multi-month tops, along with the emergence of some...
Gold (XAU/USD) prices attracted some dip-buying following the previous day's decline from the $2,665 resistance zone, albeit lacked any follow-through or bullish conviction. The US Dollar (USD) bulls turned cautious and preferred to wait for the release of the FOMC Meeting Minutes before placing fresh bets. Additionally, uncertainty surrounding US President-elect Donald Trump's tariff plans, trade war fears, geopolitical tensions, and a softer risk tone turned out to be key factors that acted as a tailwind for the safe-haven bullion. Meanwhile, the Federal Reserve's (Fed) hawkish signal...
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....