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...
The Euro dropped below $1.06, the lowest since October 2023, pressured by a strong dollar following Donald Trump's US election victory. Investors are worried about potential trade tariffs Trump suggested, which could hurt European exports. Reports about Trump's possible administration picks added to fears of policies that might impact Europe's economy. The Euro is also under pressure due to political uncertainty in Germany, set to hold snap elections on Feb. 23 after the collapse of Chancellor Olaf Scholz's governing coalition. Meanwhile, markets adjusted their expectations for European...
Gold futures slip 0.2% to $2,612 a troy ounce. U.S. dollar-denominated commodities like gold have been pressured in the wake of Donald Trump's victory in the U.S. election. Market expectations for fewer interest-rate cuts and a resurgence in inflationary pressures given Trump's planned tax and tariff laws have started to play against the precious metal, says Capital.com's Daniela Sabin Hathorn. In the short term, investor attitude toward gold has turned bearish, but gold isn't a hard sell just because the market expects fewer rate cuts, Hathorn says in a note. There is still plenty for...
Oil held close to this month's low, following steep losses in the previous two days, amid a soft demand outlook in China, a stronger US dollar and concerns the market may flip to oversupply. Brent crude edged higher near $72 a barrel, paring an earlier decline, after shedding 5% over two sessions, while West Texas Intermediate traded below $69. The recent tumble has coincided with marked weakness in the nearest portion of the oil futures curve, pointing to a market that's softening. China's latest measures to kick-start its economy stopped short of direct...
Gold slipped to its lowest level in more than seven weeks, as the dollar continued to strengthen following Donald Trump's election victory last week. Bullion fell as much as 1.1% — after sliding 2.5% in the previous session — as a gauge of the dollar rose to its highest level in a year. The gains, which make commodities priced in the currency more expensive for most buyers, are linked to Trump's pledges to cut taxes and impose trade tariffs. The precious metal has declined about 5.5% since last week's election, as hedge funds unwound bullish wagers and...
The USD/CHF pair attracted some buyers around 0.8810 during the early European session on Tuesday. A broadly stronger US Dollar (USD) extended some support to the pair. Federal Reserve (Fed) officials Christopher Waller, Thomas Barkin, Neel Kashkari, and Patrick Harker are due to speak later in the day. The US Consumer Price Index (CPI), and Producer Price Index (PPI) will be in the spotlight on Wednesday. Trump's proposed policies including tax cuts, trade tariffs, and deficit spending could trigger a fresh wave of inflation and could force the US Fed to slow down the pace of interest rate...
Gold (XAU/USD) prices, after posting their sharpest weekly decline in over five months, fell over 2% on Monday and fell to the lowest level since October 10 amid strong US Dollar (USD) buying. Traders are anticipating a cautious approach from the Federal Reserve (Fed) amid hopes that US President-elect Donald Trump's policies will boost economic growth and inflation. This, in turn, remained supportive of a pickup in the US Treasury bond yields, which pushed the USD to its highest in over four months and weighed heavily on the non-yielding yellow metal. The downward trajectory, however,...
Oil prices were flat in Asian trade on Tuesday after logging steep losses in the prior session as more stimulus measures in China underwhelmed, while focus also remained on U.S. supplies. Crude prices tumbled on Monday as China's plans for more fiscal spending left investors wanting, while inflation data from the world's biggest oil importer also disappointed. In the U.S., tropical storm Rafael was seen largely dissipating in the Gulf of Mexico, soothing any fears of supply disruptions in the region. Brent oil futures expiring in January rose 0.2% to $71.95 a barrel, while West Texas...
Silver (XAG/USD) prices fell for the third straight day, trading around $30.60 per troy ounce during the Asian session on Tuesday (12/11). The precious metals sector, including Silver, faced pressure due to reduced demand for safe-haven assets. Traders are increasingly turning to riskier assets as markets assess the potential impact of US President-elect Trump's fiscal policy and monetary strategy. The possibility of tariffs being implemented early in Trump's term could lead to inflation, which in turn could cause the Federal Reserve (Fed) to delay its expected easing measures in the coming...
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....