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 fell sharply, as traders weighed the outlook for interest rates after the Federal Reserve signaled caution over the path of easing next year. Bullion traded near $2,590 an ounce, after falling 2.3% to a one-month low on Wednesday as the U.S. central bank cut interest rates for a third straight time but controlled the number of reductions expected in 2025. Fed Chair Jerome Powell told reporters that while the bank is "on track to continue cutting," officials must first see more progress on inflation. New quarterly forecasts showed some officials are expecting fewer rate cuts next year...
Oil fell as expectations for fewer interest-rate cuts by the Federal Reserve next year boosted the dollar. February West Texas Intermediate fell toward $69 a barrel, while Brent crude settled above $73. Fed officials lowered borrowing costs as expected on Wednesday but kept the amount of cuts they expect to make in 2025 in check. The dollar strengthened to its strongest level in more than two years, making commodities more expensive for most buyers. Crude rose on Wednesday after U.S. national inventories fell for a fourth straight week. Futures headed for their narrowest annual price...
Gold prices plummet as Federal Reserve Chair Jerome Powell takes a stance after the US central bank decided to cut rates. Projections suggest the Fed shifted less dovish. The XAU/USD trades around the $2,600-$2,610 range, about to fall beneath the former.Federal Reserve Chair Jerome Powell indicated that the central bank may adopt a more cautious approach to future policy adjustments, noting that current measures are less restrictive. He emphasized that inflation risks and uncertainties remain tilted to the upside, partly explaining the dot plot changes. Powell also projected that it could...
Gold prices dropped after the Federal Reserve decided to lower borrowing costs as expected and upward revised the fed funds rate to 3.87%, for 2025. At the time of writing, the XAU/USD trades volatile at around $2,610-$2,630.The Federal Reserve cut rates by 25 basis points to the 4.25%-4.50% range, yet the decision was not unanimous, as Cleveland Fed President Beth Hammack opted to keep rates unchanged. When comparing the statement to the past meeting, there was little change, though traders were focused on the Summary of Economic Projections (SEP). According to the SEP, the dot plot...
Crude oil prices traded higher on Wednesday with overnight crude inventory figures from the American Petroleum Institute leading to a decline for now. Some support for crude prices came after a big drop in crude inventories from the American Petroleum Institute (API) on Tuesday. With a drop of 4.7 million barrels, larger than the 1.85 million barrel drop expected, crude prices gained slightly. However, some bearish news for oil came out of Kazakhstan. Prime Minister Olzhas Bektenov said on Tuesday that he has ordered the Energy Ministry to intensify efforts to increase Natural Gas and Oil...
The pound weakened against the US dollar on Wednesday despite higher UK inflation data for November than the previous month. This and expansionary fiscal policy could prevent the Bank of England from cutting interest rates, even though the economy has shown some signs of weakness. GBP/USD is trading at 1.2695, failing to break through the 1.2700 barrier convincingly. Source: FXStreet
Markets expect a quarter-point interest rate cut at today's Fed meeting. Bullion is on track for its biggest annual increase since 2010 Gold traded in a narrow range ahead of the Federal Reserve's upcoming interest rate decision, with traders looking for clues on the path of monetary policy next year. Bullion traded near $2,645 an ounce, having fallen 0.2% in the previous session, as traders awaited the U.S. central bank's last policy meeting of the year later on Wednesday. While markets widely expect another quarter-point cut, the number and pace of subsequent cuts in 2025 are unclear,...
EUR/USD is trading in a tight range near the psychological 1.0500 mark during the European session on Wednesday. The major currency pair is consolidating as investors await the outcome of the Federal Reserve's (Fed) final policy meeting of the year, which will conclude at 19:00 GMT. The Fed will also release a revised Summary of Economic Projections (SEP), also known as the dot plot, which shows the latest economic projections and where policymakers see the Federal Funds Rate heading in the medium to long term. Analysts at Bank of America (BofA) expect the Fed to cut interest rates by 25...
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....