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 traded lower mid-afternoon on Monday as the dollar climbed on rising expectations the Federal Reserve may not lower interest rates when the central bank's policy committee meets later this month. Gold for February delivery was last seen down US$21.70 to US$2,659.30 per ounce. The precious metal has been mostly rangebound since correcting from a record high of US$2,800.80 on Oct.30, as the dollar surged following the U.S. election and inflation remains stuck above the Federal Reserve's 2% target. "Gold slipped as the dollar rose overnight, highlighting its current rangebound behavior...
Crude oil prices have started to rise as tensions mount ahead of the most important OPEC+ meeting before 2025, which will be held on Thursday. Ahead of the meeting, Iranian official Afshin Javan made an ominous statement by issuing an opinion piece that blamed OPEC+ for the current low prices. The main point of the opinion piece was that OPEC+ had kept oil prices high for too long, funding its competitors to boost cheaper alternatives. The debate is heated ahead of Thursday's online meeting after Afshin Javan's opinion piece, where OPEC+ will agree to extend its production curbs. At the...
Gold dropped 1% on Monday, ending a four-session winning streak, weighed down by a robust U.S. dollar, as investors eyed upcoming economic data and remarks from Federal Reserve officials for clues on the future of U.S. interest rates. Spot gold was down 0.5% to $2,640.93 per ounce, as of 1207 GMT. It was down 1% earlier in the session. U.S. gold futures fell 0.6% to $2,663.90. The dollar index gained 0.5%, on track for its best day in over a week, making greenback-priced bullion more expensive for holders of other currencies. Trump on Saturday called on BRICS nations to pledge not to...
The greenback snapped a three-day losing streak amid focus on French budget talks and a fresh currency warning by President-elect Donald Trump. The Bloomberg Dollar Spot Index rises as much as 0.6% while the yield on 10-year Treasuries is up by three basis points to 4.20%. Trump warned the so-called BRICS countries he would require a commitment that they wouldn't create a new currency as an alternative to using the greenback, and repeated threats to levy a 100% tariff if they did. This is a tactic that risks backfiring, market watchers...
WTI crude oil prices were steady at $68.5 a barrel on Monday, as investors monitored positive economic data from China, and awaited the upcoming OPEC+ meeting. Chinese factory activity grew for a second month and at the fastest pace in five months in November, signaling a recovery in the world's largest oil importer after a series of stimulus measures introduced in late September. At the same time, Saudi Arabia, is anticipated to lower crude prices for Asian buyers in January to a four-year low. Attention also remains on the delayed OPEC+ meeting, rescheduled for later this week, where the...
Gold (XAU/USD) prices maintained its bid tone through the first half of the European session on Monday (2/12) and is currently trading around the $2,630 region, or the lower end of its daily range. The US Dollar (USD) bounced back after its recent decline to a near three-week low amid a healthy uptick in the US Treasury bond yields and turned out to be a key factor weighing on the precious metal. Furthermore, expectations that US President-elect Donald Trump's tariff plans and expansionary policies will boost inflation, setting the stage for the Federal Reserve (Fed) to halt interest rate...
Silver prices fell nearly $30 an ounce on Monday, extending losses from last week as the U.S. dollar strengthened on optimism about the U.S. economic outlook. The dollar also gained after U.S. President-elect Donald Trump threatened BRICS nations on Saturday with 100% tariffs if they create or support a new currency that could replace the dollar. A stronger dollar makes dollar-denominated commodities more expensive for buyers holding other currencies, dampening demand. Meanwhile, data showed that Chinese manufacturing activity expanded for a second straight month in November, following a...
Gold (XAU/USD) prices remained strongly offered through the early European session on Monday (2/12) and is currently trading near the lower end of its daily range, around the $2,629 region. This marked the first day of a negative move in the previous five and was sponsored by a combination of factors. Investors now seem convinced that US President-elect Donald Trump's tariff plans could reignite inflation and limit the scope for the Federal Reserve (Fed) to cut interest rates. This, in turn, triggered a fresh leg up in the US Treasury bond yields and drove flows away from the non-yielding...
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....