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 prices (XAU/USD) fell during the North American session on Monday (11/25) as news of a ceasefire between Lebanon and Israel spread, dampening appetite for riskier assets. This, along with the appointment of Scott Bessent as Treasury Secretary for the Trump administration, weighed on the yellow metal. XAU/USD is trading at $2,620, down more than 3%. The increased risk appetite is driving the movement in Gold prices. The non-yielding metal has fallen below its 50-day Simple Moving Average (SMA) of $2,664, opening the door for further downside. Market participants welcomed Bessent's...
WTI crude futures fell 3.2% on Monday, settling at $68.90 a barrel, following a report suggesting Israel and Hezbollah may be close to reaching a ceasefire deal within days. Traders cautiously viewed the news as a positive sign, but doubts persisted due to the failure of previous ceasefires. Attention also turned to escalating Ukraine-Russia tensions. In other developments, Iran announced plans to expand its nuclear fuel output following criticism from the UN atomic watchdog, preparing for potential sanctions under a possible second Trump administration. Meanwhile, Azerbaijani Energy...
Crude futures fall as expectations of an imminent ceasefire agreement between Israel and Hezbollah takes some Middle East risk premium out of the market. But "we have seen how ceasefires have failed to materialize in the past, so its best to take any ceasefire news cautiously," says Alex Hodes of StoneX in a note. Trade is apt to be volatile on lighter volume this week with the U.S. closed Thursday for Thanksgiving, he adds. WTI settles down 3.2%, at $68.94 a barrel, and Brent loses 2.9%, to $73.01 a barrel. Source: Marketwatch
Gold prices plunged over 3% on Monday, breaking a five-session rally to its highest in nearly three weeks, as reports of Israel nearing a ceasefire with Hezbollah, coupled with Trump's nomination of Scott Bessent as the U.S. Treasury Secretary soured the precious metal's safe-haven appeal. Spot gold fell 3.4% to $2,619.66 per ounce by 02:01 p.m. ET (1901 GMT), its biggest daily percentage decline since Jun.07. U.S. gold futures settled 3.5% lower to $2618.50. Traders are also gearing up for a pivotal week, with minutes from the Federal Reserve's November meeting, U.S. GDP revisions, and...
Israel is potentially days away from a cease-fire agreement with Lebanon's Hezbollah, the Israeli ambassador to the US said. Prices extended losses after Axios reported that Israel and Lebanon have accepted the terms of a ceasefire agreement. The parties haven't yet announced an agreement, it said. Bullion tumbled as much as 3% as traders unwound positions built last week amid rising geopolitical tensions, which helped the metal register the biggest weekly rally in 20 months. Traders were also digesting President-elect Donald Trump's pick of Scott Bessent for Treasury...
Gold tumbled as traders digested Donald Trump's pick of Scott Bessent as Treasury Secretary and looked toward the Federal Reserve's next interest-rate decision. Bullion slid as much as 2.1%, after capping the biggest weekly rally in 20 months on Friday as an escalation in the Russia-Ukraine conflict bolstered the metal's haven appeal. Prices fell on Monday even as the dollar and US bond yields weakened, moves that typically benefit gold. Markets broadly welcomed the choice of Bessent for Treasury Secretary as a measured choice that would inject more stability into...
The dollar fell and US government bonds rallied after Donald Trump picked Scott Bessent to run the Treasury, a Wall Street veteran who investors expect will take the sting out of the administration's more aggressive trade and economic policy proposals. A gauge of the greenback fell as much as 0.6% on Monday, its biggest decline in over two weeks, with the euro rebounding from the weakest level since 2022 reached last week. The yield on 10-year Treasuries fell as much as eight basis points to 4.32%, the lowest level since mid November. Bessent, who runs macro hedge fund...
Oil dipped as Treasury Secretary nominee Scott Bessent pushed for increased US production and Israel said it's potentially days away from a cease-fire deal with Lebanon's Hezbollah. Brent crude fell below $75 a barrel after jumping almost 6% last week on increased geopolitical risks in Ukraine and Iran. Bessent advised President-elect Donald Trump to push for millions of barrels a day more of oil production or its equivalent, according to the Wall Street Journal. That push comes at the same time OPEC is set to decide on whether to add extra barrels to the market and...
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....