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...
Gold price (XAU/USD) struggles to capitalize on its intraday bounce from the $2,600 neighborhood, or over a one-week low and remains depressed for the second successive day heading into the European session on Tuesday. US President-elect Donald Trump's tariff threat drove some haven flows and provided a modest intraday lift to the safe-haven precious metal. That said, expectations for a less dovish Federal Reserve (Fed) caps the upside for the non-yielding yellow metal. Meanwhile, the growing market conviction that Trump's expansionary policies will reignite inflation and force the Fed to...
Silver prices remained around $30.30 per ounce on Tuesday, following a more than 3% decline in the previous session, as demand for safe-haven assets like precious metals faded. The pullback came amid reports that Israel and Hezbollah were nearing a ceasefire agreement, which helped ease tensions in the Middle East. Market sentiment was further bolstered by the nomination of Scott Bessent as US Treasury Secretary, which brought a sense of stability to investors. Bessent, who has stated that Trump's goal is not to trigger inflation, also suggested that any new tariffs should be phased in...
EUR/USD pares its daily losses, trading around 1.0490 during the Asian hours on Tuesday. However, the pair may continue to depreciate due to dampened market sentiment following President-elect Donald Trump's announcement of planning to impose a 25% tariff on imports from Mexico and Canada, along with a 10% hike in tariffs on all Chinese goods entering the United States (US). The US Dollar (USD) remains subdued following comments from Federal Reserve (Fed) officials on Tuesday. However, the USD's downside risks are limited, supported by strong preliminary S&P Global US Purchasing...
Gold held steady around $2,620 an ounce on Tuesday (11/26) after dropping 3.4% in the previous session as reports that Israel and Hezbollah were close to a ceasefire deal dampened demand for the safe-haven asset. The precious metal was also hit by a rise in the U.S. dollar after President-elect Donald Trump announced plans to impose 25% tariffs on all imports from Mexico and Canada starting his first day in office, along with an additional 10% tariff on goods from China. More influential in gold prices was the appointment of Scott Bessent as Treasury Secretary in the incoming...
Oil prices fell in early Asian trading on Tuesday, extending losses from the previous session as the prospect of an Israel-Lebanon ceasefire prompted traders to price in a lower risk premium for crude. A surge in the dollar, after U.S. President-elect Donald Trump threatened to impose tariffs on China, Canada and Mexico, also weighed on oil prices. Brent crude for January delivery fell 0.3% to $72.80 a barrel, while West Texas Intermediate crude fell 0.3% to $68.33 a barrel by 8:14 p.m. ET (01:14 GMT). Oil pressured by reports of an Israel-Hezbollah ceasefire looming Oil prices fell on...
The Japanese yen remained firm around 154 per dollar on Tuesday, up about half a percent so far this week, as US President-elect Donald Trump threatened additional tariffs on China, Mexico, and Canada, dampening global risk sentiment. The yen also gained support from Trump's nomination of Scott Bessent as US Treasury Secretary, which provided a sense of stability in the markets and led traders to scale back their "Trump trades." Domestically, investors are focused on upcoming inflation data from Tokyo, which is seen as a leading indicator of nationwide price trends. On the monetary policy...
The Australian Dollar (AUD) continues to weaken against the US Dollar (USD) on Tuesday, driven by dampened market sentiment following President-elect Donald Trump's announcement of a 10% increase in tariffs on all Chinese goods entering the United States (US), along with a 25% tariff on imports from Mexico and Canada. The downside for the AUD/USD pair may be limited, as the Australian Dollar could find support from the Reserve Bank of Australia's (RBA) hawkish outlook on future interest rate decisions. Traders are now turning their attention to Australia's Monthly Consumer Price Index...
Gold fell as the dollar jumped after President-elect Donald Trump threatened 25% tariffs on imports from Canada and Mexico. Trump said the import duties were needed to curb migrants and illegal drugs flowing across the U.S. border, while also vowing to impose additional 10% tariffs on Chinese goods. A stronger dollar dented bullion's appeal by making it more expensive for many buyers. Bullion traded near $2,620 an ounce after dropping 3.4% in the previous session as easing tensions in the Middle East sapped demand for safe-haven assets. Israel's security cabinet is expected to vote on a...
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....