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 prices rise in early trading as investors await U.S. private payroll data for cues on the Federal Reserve's next policy move. Futures in New York are up 0.9% to $3,991.60 a troy ounce. "Gold prices rebounded toward $4,000/oz as investors flocked to safe-haven assets after a global stock selloff sparked concerns over stretched equity valuations," says Soojin Kim from MUFG. However, the precious metal remains below the $4,000 mark, pressured by a stronger U.S. dollar and reduced expectations for further interest-rate cuts in December. The medium-term price outlook remains bullish,...
The Australian dollar weakened to around $0.647, hitting its lowest level in eleven weeks. This decline continued as risk-off sentiment in global markets intensified, overshadowing the Reserve Bank of Australia's (RBA) hawkish policy outlook. At its November policy meeting, the RBA maintained its cash rate at 3.6%, citing ongoing inflationary pressures. Although RBA Governor Michele Bullock stated that the scope for further easing was limited, the market now sees little chance of a rate cut this year. However, despite the RBA's hawkish stance, it was not enough to lift the Australian...
Oil fell for a second day after an industry report indicated the biggest increase in US inventories in more than three months. West Texas Intermediate held above $60, while Brent settled at more than $64 on Tuesday. US crude inventories rose 6.5 million barrels last week, according to a document from the American Petroleum Institute seen by Bloomberg. That would be the biggest jump since July 25 if confirmed by official data later Wednesday. Oil declined Tuesday after a global equities rally hit a speed bump and the greenback climbed to the...
Gold edges higher on a possible technical recovery after front-month gold futures settled down 1.3% overnight. It shouldn't be a big surprise to see the precious metal consolidating in a lower $3,800-$4,050 per ounce trading range, TD Securities' Bart Melek says in a research report. The "perfect" gold bull market environment has been eroded by recent Fed rate cut ambiguities, central bank and Chinese retail buying worries, the head of Commodity Strategy says. After consolidation, however, average gold price is likely to reach a new quarterly record "north" of $4,400/oz in 1H 2026, Melek...
The USD/JPY pair declines on Tuesday to around 153.50 at the time of writing, down 0.40% on the day, as the Japanese Yen (JPY) attracts fresh safe-haven flows amid renewed global risk aversion. Fears of potential intervention from Japan's Ministry of Finance and the recent hawkish tone from Bank of Japan (BoJ) Governor Kazuo Ueda lend further support to the JPY. Ueda hinted last week that a rate hike could come by the end of this year or early next year, reinforcing expectations of a gradual policy shift by the BoJ. However, the Japanese Yen's upside remains limited. Uncertainty over the...
Gold slipped slightly Tuesday, pressured by a stronger U.S. dollar and lingering uncertainty over the Federal Reserve's next policy move. Spot gold fell 0.8% to $3,970.08 per ounce and U.S. Gold Futures declined 0.8% to $3,980.31 per ounce. The metal has struggled to hold above the $4,000 mark as the dollar extended gains, making bullion more expensive for overseas buyers. Gold pressured by stronger dollarThe dollar climbed to a three-month high against major currencies on Monday, underpinned by fading bets of another rate cut this year. Fed Chair Jerome Powell last week signaled that...
Silver fell below $48 per ounce on Tuesday, sliding for the third straight session, as investors weighed the outlook for Federal Reserve policy while assessing the impact of easing US-China trade tensions. Last week, the Fed delivered a widely expected 25 bps rate cut, though Chair Powell stressed that another move in December is not guaranteed. Markets now turn to key US data releases, including ADP jobs and ISM PMI reports, for further guidance. Meanwhile, improving trade relations reduced safe-haven demand for precious metals. Over the weekend, the White House announced that China would...
Silver (XAG/USD) weakened on Tuesday to around $47.70 per ounce, down 1.10% on the day, after attempting to extend its recent rally beyond $49.50. Selling pressure increased as the US dollar (USD) strengthened, supported by expectations of tighter monetary policy from the Federal Reserve (Fed). The silver metal weakened amid the firmer tone recently adopted by several Fed officials, including Chairman Jerome Powell, who stated that another interest rate cut in December is "not on the cards." The market currently prices a roughly 65% chance of a rate cut at the December meeting, according...
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....