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 futures rise, recouping some ground after a 3.7% drop on Monday. Futures are up 0.4% at $2,629.70 a troy ounce. The precious metal remains under pressure on renewed risk appetite in financial markets, says ActivTrades' Ricardo Evangelista. Trump's nomination of Scott Bessent, viewed as a balanced choice for U.S. Treasury Secretary, has eased fears that a second Trump administration's tariff-heavy policies could reignite inflation and stifle economic growth, Evangelista says in a note. Reports of a potential ceasefire agreement between Israel and Hezbollah have also reduced safe-haven...
Gold steadied after declining earlier as Donald Trump's threat of 25% import tariffs on Canada and Mexico buoyed the dollar. The US president-elect said the import taxes were necessary to clamp down on migrants and illegal drugs crossing America's borders. He also vowed to impose additional 10% tariffs on goods from China. The subsequent strengthening of the dollar made gold more expensive for many buyers. Bullion traded near $2,630 an ounce after slumping 3.4% in the previous session amid a potential easing of tensions in the Middle East. Israel's security cabinet is...
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...
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....