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 US dollar moved steadily, tending to strengthen slightly on Wednesday, October 29, 2025, after briefly touching its weakest level in about a week. The dollar index (DXY), which measures the greenback's strength against six major currencies, was in the 98-99 range, up around 0.2%. This slight gain occurred ahead of the Fed's policy decision, which will almost certainly cut the benchmark interest rate by another 25 basis points. The market has essentially priced in the Fed's rate cut today and possibly another at its December meeting. This means that investors are now focusing more on the...
Silver (XAG/USD) strengthened on Wednesday (October 29th), rising 2.50% for the day and trading around $48.25 per ounce at the time of writing. The gray metal benefited from renewed interest in safe-haven assets as investors remained cautious ahead of the Federal Reserve's (Fed) monetary policy announcement, while geopolitical tensions and fiscal uncertainty in the United States (US) maintained a favorable backdrop for precious metals. Silver's rebound followed Gold's (XAU/USD) rally back above the symbolic $4,000 level, supported by expectations of a dovish Fed stance. Market participants...
Oil prices were steady on Wednesday (October 29th) as investors weighed optimism over a meeting between the leaders of major consumers, the US and China, against expectations of an increase in production quotas from the next OPEC+ meeting. Brent crude rose 11 cents, or 0.2%, to $64.51 a barrel at 10:20 GMT, while US West Texas Intermediate crude rose 6 cents, or 0.1%, to $60.21. China's Foreign Ministry said Chinese President Xi Jinping will meet with US President Donald Trump on Thursday in the South Korean city of Busan. The ministry said the meeting would "inject new momentum into the...
Gold rebounded more than 1% on Wednesday (October 29th) as investors found the precious metal attractive after prices fell to a three-week low in the previous session, while the Federal Reserve's interest rate cut decision and Chairman Jerome Powell's speech were the main highlights. Spot gold rose 1% to $3,991.59 an ounce, as of 07:48 GMT, after falling to its lowest level since October 6 on Tuesday. U.S. gold futures for December delivery rose 0.6% to $4,005.60 an ounce. "Bargain hunting could be (supportive) because it has lost a little over 10% of its value, which makes it attractive...
GBP/USD fell again for a second session and is now trading around 1.3250 in the Asian session on Wednesday morning. The pound weakened after data from the British Retail Consortium (BRC) showed food prices in the UK fell at the fastest rate in almost five years. This decline in price pressures has made the market increasingly confident that the Bank of England (BoE) will cut interest rates. Traders now estimate there is a 68% chance the BoE will cut interest rates by 0.25% in December. Expectations of BoE easing are growing due to problems in the UK economy itself. The Office for Budget...
The Japanese yen strengthened, breaking through 152 per US dollar on Wednesday (October 29th), continuing its two-day rally. Market participants are positioning themselves ahead of this week's Bank of Japan (BOJ) decision. The BOJ is not expected to change interest rates now, but officials are said to be opening discussions about when to raise interest rates further in the future. This pressure arises because Japanese inflation remains stubbornly high. Yen sentiment strengthened after US Treasury Secretary Scott Bessent met with Japanese Finance Minister Satsuki Katayama and said Japan...
Oil held a three-day drop as investors assessed the impact of Western sanctions against leading Russian crude producers alongside a mixed industry estimate of US inventory changes. West Texas Intermediate was steady near $60 a barrel after falling by almost 3% over the prior three sessions, while Brent closed above $64. US President Donald Trump will follow through and enforce harsh new sanctions against Moscow to pressure Vladimir Putin into negotiations to end the war in Ukraine, according to Matthew Whitaker, the US ambassador to NATO. Meanwhile, the US industry report...
Gold prices began to stabilize on Wednesday after three consecutive days of decline. The precious metal was trading around $3,950 per ounce, ahead of a crucial meeting between US President Donald Trump and Chinese President Xi Jinping. The market is optimistic due to hopes for a breakthrough in US-China trade. There's even news that the US is ready to lift some tariffs if China takes a firmer stance on the export of chemicals used to make fentanyl. This sentiment has made investors more willing to invest in riskier assets, not just gold. Previously, gold had gone on a rampage, soaring to a...
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....