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...
Oil gained as progress between the US and China on trade boosted the outlook for energy demand and lifted risk assets. Brent rose above $66 a barrel, after rallying almost 8% last week, while West Texas Intermediate was near $62. Top negotiators said they came to terms on a range of points, setting the table for President Donald Trump and counterpart Xi Jinping to finalize a deal. The leaders will meet on Thursday. Trump's threat of 100% tariffs on Chinese goods "is effectively off the table," Treasury Secretary Scott Bessent told CBS News. The US and China are the...
Gold falls in early Asian trade as U.S.-China trade deal optimism overcomes signs of cooler U.S. inflation. Treasury Secretary Bessent hailed trade talks between the U.S. and China in Malaysia as "constructive." The remarks are likely to diminish the safe-haven appeal of the precious metal. Meanwhile, U.S. consumer prices rose by less-than-expected 3% on year in September. The inflation data is unlikely to influence the gold price, Commerzbank Research's Carsten Fritsch says in a research report. Rate expectations have recently played just a minor role in the development of gold prices, the...
Oil prices fell on Friday (October 24th) as skepticism crept into the market regarding the Trump administration's commitment to sanctions against Russia's two largest oil companies related to the war in Ukraine. Brent crude futures closed 5 cents, or 0.1%, lower at $65.94 a barrel, while U.S. crude <CLc1> closed at $61.50 a barrel, down 29 cents, or 0.5%. Both crude benchmarks rallied early in the session, extending gains of more than 5% achieved on Thursday after the sanctions were announced, but then weakened in the final two hours of trading. Crude prices still closed up more than...
Gold prices pared losses on Friday (October 24) after slightly lower-than-expected US inflation data reinforced expectations that the Federal Reserve will cut interest rates next week, but the precious metal is still expected to post its first weekly loss in 10 weeks. Spot gold fell 0.2% to $4,118.29 an ounce at 1:42 p.m. ET (1742 GMT), after falling nearly 2% earlier in the session. Prices have fallen more than 3% for the week. US gold futures for December delivery closed 0.2% lower at $4,137.8 an ounce. "Gold and silver jumped on lower-than-expected September core CPI, but it likely...
Silver (XAG/USD) weakened on Friday, trading around $48.85 per troy ounce at the time of writing, down 0.10% for the day, as the market consolidated below the psychological $49 level. The precious metal is taking a breather after its recent rally, fueled by growing expectations of further monetary easing from the US Federal Reserve (Fed). The latest US Consumer Price Index (CPI) report showed that headline inflation rose by 0.3% month-on-month, lower than the 0.4% forecast, while core inflation slowed to 3.0% year-on-year. The data reinforced expectations that the Fed will maintain its...
Gold prices pared losses on Friday (October 24) after slightly lower-than-expected US inflation data reinforced expectations that the Federal Reserve will cut interest rates next week, but the precious metal is still expected to post its first weekly loss in ten weeks. Spot gold was steady at $4,125.11 an ounce at 12:05 p.m. ET (1605 GMT), after falling nearly 2% earlier in the session. Prices are down 2.8% for the week. US gold futures for December delivery fell 0.1% to $4,143.20 an ounce. "Gold and silver jumped on lower-than-expected September core CPI, but it likely wasn't enough to...
Gold drew attention during LME Week, with prices up by around 60% this year. The rally has been driven by uncertainties over global trade, heightened geopolitical tensions, US fiscal stability and the Fed's independence. The start of the Fed's easing cycle also boosted Gold, which doesn't pay any interest. The rally has been driven by physical buying, with central banks and private investors accumulating Gold at record volumes, ING's commodity expert Ewa Manthey notes. Gold tumbles after record-breaking rally"But after a weeks-long rally that saw the precious metal hitting successive record...
Oil steadies but supply fear keeps it on track for weekly gain Oil prices were little changed on Friday, stabilising after the previous day's surge and remaining on track for a weekly gain as fresh U.S. sanctions on Russia's two biggest oil companies over the war in Ukraine fuelled supply concerns. Brent crude futures were up 12 cents, or 0.2%, at $66.11 by 0808 GMT. U.S. West Texas Intermediate crude futures added 16 cents, or 0.3%, to $61.95. "Everyone is waiting for signs of how big the impact is of the new sanctions on Russia. The market is in a wait-and-see mode to see what happens...
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....