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) traded higher on Thursday, recovering some of its losses on Wednesday after the Federal Reserve's (Fed) monetary policy decision. At the time of writing, the precious metal had reached the $2,620 area after bouncing off a low of $2,580 the previous day. The Fed cut interest rates as expected but raised growth and inflation expectations and lowered its projection for rate cuts next year. This, coupled with an unusually hawkish tone from Fed Chair Jerome Powell, triggered a risk-off reaction, causing the US Dollar Index (DXY), which tracks the USD against a basket of six...
The US dollar eased slightly on Thursday, but remained near a two-year high after the Federal Reserve signaled a slower pace of interest rate cuts in 2025, while sterling strengthened ahead of the Bank of England's latest policy meeting. US dollar eases from two-year highs The dollar strengthened on Wednesday after the Federal Reserve cut its outlook for interest rate cuts in the coming year, after delivering on expectations for a rate cut. The US central bank's policymakers now see only 50 basis points of additional easing in 2025, instead of the 100 basis points indicated in their...
Gold (XAU/USD) price extended its goodish intraday recovery from one-month lows and climbed to a fresh intraday high, around $2,622 region during the early European session on Thursday. The global risk sentiment soured in reaction to the Federal Reserve's (Fed) hawkish interest rate cut on Wednesday. This, along with geopolitical risks and trade war fears, turned out to be the key factors driving safe-haven inflows towards the precious metal. Meanwhile, the US Dollar (USD) was seen consolidating the previous day's post-FOMC gains to a two-year high and did little to provide any impetus to...
Silver (XAG/USD) prices extended their decline for the sixth straight session, trading around $29.50 per troy ounce during Asian trading hours on Thursday (12/19). The grey metal depreciated more than 3% following the release of the Federal Reserve's (Fed) interest rate decision on Wednesday. The Federal Reserve (Fed) delivered a 25 basis point (bps) interest rate cut at its December meeting, bringing its benchmark lending rate to a range of 4.25%-4.50%, the lowest level in two years. Additionally, during the Press Conference, Fed Chair Jerome Powell made it clear that the Fed would be...
Oil prices fell in Asian trade on Thursday after the U.S. Federal Reserve signaled it would slow the pace of interest rate cuts in 2025, which could slow economic growth and reduce fuel demand. Brent crude futures were down 47 cents, or 0.6%, at $72.92 a barrel by 0515 GMT. U.S. West Texas Intermediate crude was down 39 cents, or 0.6%, at $70.19. The declines reversed most of the benchmark contracts' gains from Wednesday, when prices settled higher as U.S. crude stockpiles fell and the U.S. Federal Reserve cut interest rates by 25 basis points as expected. Prices weakened after U.S....
Gold (XAU/USD) prices staged a goodish intraday recovery from a one-month low, around $2,584-$2,610 region touched during the Asian session on Thursday (19/12), albeit without any follow-through buying. The Federal Reserve (Fed) signaled on Wednesday that it would slow the pace of interest rate cuts. This comes on top of persistent geopolitical risks and trade war fears, which in turn, dampened investors' appetite for riskier assets and drove some haven flows towards the precious metal. Meanwhile, the Fed's more hawkish view on the 2025 outlook remained supportive of a further uptick in the...
The yen weakened past the key level of 155 versus the dollar after the Bank of Japan kept interest rates steady at its policy meeting. Japan's currency slid as much as 0.3% against the greenback to 155.27, a level last seen on Nov. 21. That followed a 0.9% slide in the yen on Wednesday after the Federal Reserve cut interest rates while signaling caution over future rate reductions. The 155 level for the dollar-yen pair is closely watched by strategists, who see a slide to this mark as a potential trigger for verbal intervention from Japanese authorities, and added pressure on the...
Gold staged a partial recovery in Asian trading after tumbling more than 2% in the previous session as the Federal Reserve adopted a more cautious tone on the pace of rate cuts next year. Bullion climbed as much as 1.3% to trade near $2,620 an ounce. The Fed reduced borrowing costs on Wednesday, but Chair Jerome Powell said that while the bank was "on track to continue to cut," officials would first have to see more progress on inflation. Fresh quarterly forecasts showed several officials penciling in fewer rate cuts for next year, causing swap traders to significantly...
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....