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) prices rose for the third straight session on Thursday, after rising more than 27% in 2024, marking its best performance since 2010. The upward momentum was driven by US monetary easing, persistent geopolitical tensions, and record central bank buying. However, non-interest-bearing gold may face some headwinds as the Federal Reserve (Fed) is expected to take a more cautious approach to further interest rate cuts in 2025, signaling a shift in its aggressive monetary policy stance. The shift is driven by uncertainty surrounding potential policy changes under the Trump...
EUR/USD traded vulnerable and held near more than a month-low around 1.0350 on the first trading day of the year. The major currency pair is in a tough spot as the US Dollar (USD) holds near more than two-year highs, with the Dollar Index (DXY) trading around 108.50 on optimism that the Federal Reserve (Fed) will cut interest rates lower than previously anticipated this year. Source: FXStreet
Oil steadied in the first session of the new year as an industry report signaled US crude stockpiles continued to shrink. Brent traded below $75 a barrel after giving up an earlier gain, and West Texas Intermediate was near $72. A report from the American Petroleum Institute showed inventories fell by 1.4 million barrels last week, which would be a sixth straight draw if confirmed by government data later Thursday. Oil has been stuck in a narrow range since mid-October, with Brent posting a modest annual decline and WTI ending 2024 little changed. Investors...
Oil prices nudged higher on Thursday, the first day of trade for 2025, as investors returning from holidays cautiously eyed a recovery in China's economy and fuel demand following a pledge by President Xi Jinping to promote growth. Brent crude futures rose 17 cents, or 0.06%, to $74.82 a barrel by 0547 GMT after settling up 65 cents on Tuesday, the last trading day for 2024. U.S. West Texas Intermediate crude futures gained 19 cents, or 0.26%, to $71.91 a barrel after closing 73 cents higher in the previous session. China's factory activity grew in December, according to the private-sector...
The Japanese yen remained largely unchanged around 157 per dollar on Thursday, amid thin trading volumes as Japan observed the holiday season. Investors continued to digest the Bank of Japan's interest rate outlook, following an uptick in both headline and core inflation in November. Minutes from the BoJ's December meeting revealed that policymakers had debated the possibility of a near-term rate hike, with some members suggesting that conditions were starting to align for such a move. Meanwhile, traders are keeping a close eye on potential Japanese government intervention, after Finance...
Gold prices inched higher on Thursday, continuing its momentum from 2024, while traders sought more clarity on the U.S. Federal Reserve's interest rate trajectory and President-elect Donald Trump's policies. Spot gold rose 0.39% to $2,634.15 per ounce, as of 0255 GMT. U.S. gold futures edged up 0.2% to $2,646.30. Bullion surged over 27% in 2024, its largest annual gain since 2010, driven by Fed's substantial rate cuts and escalating geopolitical tensions. The dollar index (.DXY), opens new tab slipped 0.1%, making dollar-priced bullion more affordable for holders of other...
The dollar index slipped to around 108.3 on Thursday, starting the year on a subdued note following a strong performance in 2024. Last year, the dollar strengthened by approximately 7% against a basket of major currencies, as the Federal Reserve signaled a more cautious stance on interest rate cuts amid ongoing inflationary pressures. The dollar also received a boost from Trump's imminent return to the White House, with his proposed policies—such as deregulation, tax cuts, higher tariffs, and stricter immigration measures—seen as pro-growth and inflationary. Additionally, concerns over...
WTI crude oil futures rose above $72 per barrel on Thursday, the first session after the New Year holiday, following an industry report indicating lower US crude inventories. API data showed a 1.4-million-barrel decline in US crude stocks for the week ending December 27th. If confirmed by official data today, it would mark a third consecutive weekly draw. Investors are also eyeing a recovery in China's economy and fuel demand after President Xi Jinping's pledge last Tuesday to implement more proactive policies to promote growth. This comes after an official survey suggested that policy...
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....