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...
Crude prices recovered from a midday dip on Friday on hopes Hungary can use Russian crude oil as U.S. President Donald Trump met Hungary's Prime Minister Viktor Orban at the White House. Brent crude futures settled at $63.63 a barrel, up 25 cents or 0.39%. U.S. West Texas Intermediate crude finished at $59.75 a barrel, up 32 cents, or 0.54%. Both benchmarks are poised to register weekly declines of around 2% as leading global producers raise output. "We're sort of watching that Trump meeting with Orban to see if some deal comes out that eases sanctions on Lukoil and Rosneft," said John...
Expectations that the Federal Reserve (The Fed) will cut interest rates have increased the appeal of gold, as yields on fixed-income assets (such as bonds) have become lower. The US dollar has weakened, making dollar-priced gold cheaper for holders of other currencies, boosting demand. Global geopolitical and economic uncertainty (e.g., conflict, trade, inflation) has driven investors to safe-haven assets like gold. 1. Expectations of an Interest Rate Cut by the Federal Reserve (Fed) Economic data in the US has shown weakness (such as rising jobless claims, weakening manufacturing),...
The dollar fell due to disappointing US jobs data, with layoffs reaching more than 150,000 in October, the highest in over 20 years. Another factor: the market is now considering the possibility that the Federal Reserve (the Fed) could cut interest rates near the end of the year as US economic growth begins to slow. Furthermore, the partial US government shutdown has exacerbated uncertainty around official economic data, making investors less confident in the dollar as a safe-haven asset. The USD continues to experience pressure due to a combination of factors, including slowing US...
Gold rose on Friday (November 7) as expectations of further interest rate cuts from the Federal Reserve and lingering concerns over the US economic outlook amid the prolonged government shutdown boosted demand. Spot gold rose 0.8% to $4,010.72 an ounce, as of 09:25 GMT. US gold futures for December delivery rose 0.7% to $4,019.50 an ounce. "The bullish current is still in play," said independent analyst Ross Norman. "The underlying themes associated with the strengthening gold price remain very relevant: central bank gold purchases and the prospect of interest rate cuts." The US economy...
Oil prices rose on Friday (November 7th), but remained on track for a second straight weekly loss after three days of declines on oversupply concerns and slowing US demand. Brent crude rose 60 cents, or 1%, to $63.98 per barrel at 09:04 GMT. US West Texas Intermediate crude rose 61 cents, or 1%, to $60.04. Both benchmarks are expected to post weekly declines of more than 1.5% as leading global producers increase output. "The market continues to price in the growing oil surplus against a mixed macro environment," said SEB analyst Ole Hvalbye. An unexpected increase in US inventories of 5.2...
The US Dollar trims losses on Friday with investors wary of risk following another sell-off on Wall Street, as concerns of an AI bubble remain alive. The USD Index, which measures the value of the Dollar against a basket of peers, is trading at 99.85 in the early European session, up from weekly lows around 99.65. The Greenback drew some support from risk aversion as Asian markets followed Wall Street and posted significant losses, with tech stocks leading the drawdown. Fears of a dotcom-like crash, coupled with downbeat employment data from the US, have triggered a rush for safety that is...
Silver is trading in a high range (the December COMEX contract is around $48–49/oz) as risk-off sentiment spreads and the US dollar weakened. The sharp rise in Challenger job losses in October boosted market confidence that the Fed could cut interest rates sooner, boosting interest in the precious metal. However, silver's rally has tended to be more subdued than gold's because silver is also highly dependent on the industrial cycle. From a fundamental perspective, the medium-term market balance remains tight: The Silver Institute expects a continued supply deficit into 2025, despite...
Gold strengthened in the Asian session as signs of a fragile US economy emerged. US companies reported plans to cut more than 150,000 jobs last month—nearly triple the number in September—according to consultancy Challenger, Gray & Christmas. This data added to market concerns and boosted interest in safe-haven assets. Meanwhile, the US government shutdown entered its 37th day. Its impact is becoming increasingly noticeable: the Federal Aviation Administration (FAA) ordered a 10% reduction in traffic at 40 airports. This policy reinforced signals of slowing activity and dampened risk...
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....