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...
Silver slipped to around $48.6 per ounce on Friday and was on track to lose over 6% for the week, as profit-taking swept through the market amid concerns that the metal may have entered overvalued territory. The recent surge was driven by strong safe-haven demand and optimism over silver's long-term industrial use in electric vehicles, data centers, and solar power, alongside tightening inventories in London and Shanghai vaults. Meanwhile, investors monitored trade developments after the White House confirmed the Trump-Xi meeting next Thursday on the sidelines of the APEC summit. Markets...
The US dollar is moving steadily upward, still on track for a slight increase for the week. The market is awaiting the release of the delayed US inflation figures, and most market participants believe this data is unlikely to derail the Fed's plan to cut interest rates next week. Trade war concerns have resurfaced. President Donald Trump halted trade talks with Canada after deeming an advertisement misleading about tariffs. The Canadian dollar weakened slightly, but the market's primary focus remains on the Trump–Xi meeting in South Korea next week. The hope is for signs of easing tensions...
Oil prices are headed for their biggest weekly gain since June after the US imposed sanctions on major Russian producers Rosneft and Lukoil, potentially disrupting supply and shifting demand to alternative grades. Brent oil hovered near $66 per barrel after surging 5.4% in the previous session, while WTI held below $62. Russian oil flows to India are expected to plummet due to the sanctions, while the impact on Chinese purchases remains unclear. President Donald Trump plans to raise the issue of China's purchases of Russian oil when he meets with President Xi next week. Russia may offer...
The USD/JPY pair extends the rally to a two-week high near 152.65 during the early Asian session on Friday. The Japanese Yen (JPY) weakens against the US Dollar (USD) as traders weigh fresh US sanctions on Russian oil companies. Traders await the delayed release of US Consumer Price Index (CPI) inflation data, which is due later on Friday. Data released by the Statistics Bureau of Japan on Friday showed that Japan's National CPI rose by 2.9% YoY in September, compared to the previous reading of 2.7%. Meanwhile, the National CPI ex Fresh food arrived at 2.9% YoY in September versus 2.7%...
Gold falls in early Asian trade on likely further unwinding of long positions, analysts say. "Our gold analysis suggests moderate further downside may be on the cards," says Fawad Razaqzada, market analyst at City Index and FOREX.com, in commentary. While gold managed to recently bounce near support around the $4,000/oz-$4,022/oz range as expected, this doesn't necessarily mean the bearish move has already ended, the analyst says. If gold closes below $4,000/oz, it would be a bearish technical development, the analyst adds. Spot gold is 0.4% lower at $4,109.32/oz. Source: Dow Jones Newswires
Oil prices surged about 5% to a two-week high on Thursday (October 23rd) after the US imposed sanctions on major Russian suppliers Rosneft (ROSN.MM) and Lukoil (LKOH.MM) over Moscow's war in Ukraine, prompting energy companies in China and India to consider reducing Russian imports. Brent crude futures rose $3.40, or 5.4%, to $65.99 a barrel, while U.S. West Texas Intermediate (WTI) crude rose $3.29, or 5.6%, to $61.79. The daily percentage gains were the largest for both crude contracts since mid-June and the highest close since October 8th. "The announcement of US sanctions against...
Gold prices rose more than 1% on Thursday (October 23rd) after two consecutive sessions of declines, as resurgent geopolitical risks boosted demand for safe-haven assets and investors prepared for key US inflation data due on Friday. Spot gold rose 1% to $4,132.76 an ounce, as of 1:49 p.m. ET (1748 GMT), after falling to a near two-week low in the previous session. US gold futures for December delivery closed 2% higher at $4,145.60 an ounce. Prices hit a record high of $4,381.21 on Monday, but posted their sharpest decline in five years in the following session. GOLD VALUES JUMP THIS...
Gold prices rose more than 1% on Thursday (October 23rd) after two consecutive sessions of declines, as resurgent geopolitical risks boosted demand for safe-haven assets and investors prepared for key US inflation data due on Friday. Spot gold rose 1.4% to $4,149.39 an ounce, as of 11:05 a.m. ET (15:05 GMT), after falling to a near two-week low in the previous session. US gold futures for December delivery rose 2.5% to $4,165.80 an ounce. Prices hit a record high of $4,381.21 on Monday, but posted their sharpest decline in five years in the following session. GOLD VALUES JUMP THIS...
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....