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 trimmed earlier gains, trading below $2,650 per ounce on Tuesday after a 1% rise earlier in the session. The strengthening dollar and rising Treasury yields pressured gold as U.S. job openings indicated lower chances of significant rate cuts by the Federal Reserve. Stronger-than-expected job openings and solid services sector data pointed to a resilient economy, likely keeping the Fed cautious about easing rates. The dollar rebounded from a one-week low, further weighing on gold, which typically benefits from lower interest rates. Investor concerns that proposed U.S. tariffs...
Oil prices edged lower on Tuesday as optimism over demand faded, although tighter Russian and Iranian supplies driven by expanded Western sanctions curbed losses. Brent crude futures were down 25 cents, or 0.33%, at $76.05 a barrel by 0950 GMT, while U.S. West Texas Intermediate (WTI) crude was down 44 cents, or 0.60%, at $73.12. Both benchmarks fell on Monday, after rising for five straight days last week and ending at their highest levels since October on Friday amid expectations of more fiscal stimulus to revitalize China's faltering economy. "This week's weakness is likely a technical...
Gold edged higher on a weaker dollar as traders weighed risks to global trade after President-elect Donald Trump denied reports that he might moderate his broad tariff plans. Bullion traded above $2,640 an ounce, after ending lower in the previous two sessions. Uncertainty about the much-anticipated U.S. move helped lift the 10-year Treasury yield to its highest since May on Monday, while the dollar fell. The precious metal typically faces headwinds from higher yields but support from a weaker U.S. currency. "Gold is seen consolidating in a range, but is likely to trade with a positive...
The U.S. dollar fell on Tuesday, nearing a one-week low following a report that President-elect Donald Trump's tariffs could be less aggressive, while the euro strengthened ahead of key inflation data. At 4:25 a.m. ET (09:25 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was trading 0.3% lower at 107.775, after falling overnight to its weakest since Dec. 30. Dollar remains weaker The dollar has weakened since the Washington Post published a report on Monday that the new Trump administration is exploring plans to limit tariffs on sectors deemed...
The USD/CHF pair traded on a weaker note around 0.9040 during the early European trading hours on Tuesday (1/7). The US dollar (USD) weakened amid confusion over President-elect Donald Trump's tariff plans. Investors will be watching how aggressive Trump's policies will be once he takes office. On Tuesday, the preliminary reading of the Eurozone Harmonized Index of Consumer Prices (HICP) for December will be released. However, the cautious stance of US Federal Reserve (Fed) officials could help limit the USD's losses. Fed Governor Lisa Cook said on Monday that Fed policymakers could be more...
Silver prices rose above $30 an ounce on Tuesday ( 7/1), hitting a nearly three-week high as the U.S. dollar weakened following reports that the new Trump administration may take a more targeted approach to tariffs. However, President-elect Donald Trump denied the reports, prompting caution among market participants. Looking ahead, investors are focused on key U.S. labor market data this week to assess the outlook for Federal Reserve monetary policy, which could influence the direction of the dollar. Silver is also getting support from a positive economic outlook in China, the world's...
Oil prices fell on Tuesday (7/1), extending losses into a second straight session after rallying last week, although concerns about tighter Russian and Iranian supplies amid expanding Western sanctions kept the decline at bay. Brent crude futures edged down 8 cents, or 0.1%, to $76.22 a barrel by 0452 GMT, while U.S. West Texas Intermediate (WTI) crude fell 15 cents, or 0.19%, to $73.42. Both benchmarks fell on Monday, after rising for five straight days last week and ending at their highest since October on Friday amid expectations of further fiscal stimulus to revitalize China's...
EUR/USD continued its uptrend for the third straight session, trading around 1.0400 during Asian hours on Tuesday (7/1). The EUR/USD pair's uptrend was attributed to a weaker US Dollar (USD). Later in the day, the US ISM Services Purchasing Managers' Index (PMI) will be released. On Wednesday, the market will focus on the Minutes of the Federal Reserve's (Fed) December policy meeting. The US Dollar Index (DXY), which tracks the USD against a basket of six major currencies, remained under pressure for the third straight session, trading near 108.20 at the time of writing. However, the...
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....