Gold prices weakened in early December, dragged down by investor caution ahead of the Federal Reserve's looming interest rate decision. Amid speculation that the Fed was ready to cut rates again this month, market participants opted to hold back, keeping gold's movements limited. Pressure from the mixed US dollar also prevented gold from posting significant gains. Despite showing some strength in the previous month, gold is now moving defensively due to ongoing global uncertainty. US economic data released in the next few days—including inflation, consumer spending, and signs of a weakening...
The dollar index held steady around 106.9 on Wednesday as investors prepared for the release of the latest US PCE price index report, the Federal Reserve's preferred inflation measure. Market participants are also looking ahead to other key data, including initial jobless claims, a second reading of GDP, and figures on personal income and spending. Minutes from the FOMC's November meeting revealed that officials were optimistic about easing inflation and the strength of the labor market, which supports the case for further rate cuts. However, they indicated a preference for gradual...
Oil prices fell slightly in Asian trade on Wednesday, extending recent losses after Israel agreed to a two-month deal. Brent crude futures expiring in January fell 0.2% to $72.70 a barrel, while West Texas Intermediate crude futures fell 0.2% to $68.30 a barrel by 8:47 p.m. ET (01:47 GMT). Crude losses were also tempered by a Reuters report that the Organization of the Petroleum Exporting Countries and its allies (OPEC+) are considering a further delay in plans to increase output. The cartel meets on Dec. 1. US oil inventories unexpectedly fall – API. Data from the American Petroleum...
Gold rose near $2,640 an ounce on Wednesday (11/27) as investors continued to digest the latest FOMC minutes while awaiting key US data for further insights into the Federal Reserve's monetary policy outlook. While officials expressed confidence in easing inflation and labor market strength, the minutes also expressed a cautious approach to further rate cuts, signaling a preference for gradual adjustments. Most investors still expect a 25bps rate cut in December, with a probability of around 63%, which would reduce the opportunity cost of holding non-interest-bearing bullion. Traders...
Oil prices slid on Tuesday, giving back early gains in choppy trade after Israel agreed to a ceasefire deal with Lebanon, reducing oil's risk premium. Brent crude futures fell 22 cents, or 0.3%, to $72.79 a barrel at 2:19 p.m. ET, while U.S. West Texas Intermediate crude futures were at $68.74 a barrel, down 20 cents, or 0.29%. Israel's security cabinet has agreed a ceasefire deal with Lebanon, Channel 12 reported. The accord was expected to take effect on Wednesday. On Monday, oil prices slid more than $2 following multiple reports that Israel and Lebanon had agreed to the terms of a...
Front-month gold futures close the day up 0.1% to $2,620.30 an ounce, quickly turning around after the contract posted its largest decline in four years on news of a potential ceasefire between Israel and Lebanon. President-elect Trump's plans for new tariffs are throwing a wrench into thoughts around future interest rate cuts, which could keep rates higher for longer. "These factors may keep these gains fragile," says Samer Hasn of XS.com in a note. SPDR Gold shares are down 0.1% in afternoon trading. Source: Marketwatch
Oil prices rose on Tuesday after falling more than $2 a barrel in the previous session as investors took stock of a potential ceasefire between Israel and Lebanon's Hezbollah, which had weighed on oil's risk premium. Brent crude futures were up 73 cents, or 1%, to $73.74 a barrel as of 1018 GMT. U.S. West Texas Intermediate crude futures were at $69.62 a barrel, up 68 cents, also 1%. Prices fell sharply on Monday after multiple reports that Israel and Lebanon had agreed to the terms of a deal to end the Israel-Hezbollah conflict. A senior Israeli official said Israel looks set to approve a...
Gold futures rise, recouping some ground after a 3.7% drop on Monday. Futures are up 0.4% at $2,629.70 a troy ounce. The precious metal remains under pressure on renewed risk appetite in financial markets, says ActivTrades' Ricardo Evangelista. Trump's nomination of Scott Bessent, viewed as a balanced choice for U.S. Treasury Secretary, has eased fears that a second Trump administration's tariff-heavy policies could reignite inflation and stifle economic growth, Evangelista says in a note. Reports of a potential ceasefire agreement between Israel and Hezbollah have also reduced safe-haven...
Gold steadied after declining earlier as Donald Trump's threat of 25% import tariffs on Canada and Mexico buoyed the dollar. The US president-elect said the import taxes were necessary to clamp down on migrants and illegal drugs crossing America's borders. He also vowed to impose additional 10% tariffs on goods from China. The subsequent strengthening of the dollar made gold more expensive for many buyers. Bullion traded near $2,630 an ounce after slumping 3.4% in the previous session amid a potential easing of tensions in the Middle East. Israel's security cabinet is...
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....