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 steadied after Friday's sharp decline in the precious metal, with traders weighing the latest developments in trade tensions and concerns surrounding the credit exposure of regional US banks. At the end of a volatile week, bullion closed 1.7% lower, its biggest daily decline since May. Silver also traded little changed on Monday after falling 4.3% in the previous session as pressure on London stocks eased. Technical indicators suggest that the explosive rally for both metals that began in August and pushed them to new records last week may have overheated, paving the way for a...
Oil prices posted a slight increase on Friday (October 17th), but were close to a weekly loss of nearly 3% after the International Energy Agency (IEA) forecast a widening oversupply, and U.S. President Donald Trump and Russian President Vladimir Putin agreed to meet again to discuss Ukraine. Brent crude futures closed at $61.29 per barrel, up 23 cents, or 0.38%. U.S. West Texas Intermediate crude futures closed at $57.54 per barrel, up 8 cents, or 0.14%. Trump and Putin agreed on Thursday to hold another summit on the war in Ukraine, to be held in Hungary within the next two weeks. This...
Gold prices (XAU/USD) fell 2% after hitting a record high of $4,379 on Friday (October 17th), falling below $4,250, triggered by comments by US President Donald Trump that triple-digit tariffs against China were unsustainable. At the time of writing, gold bullion prices were hovering around $4,230-$4,240. Gold bullion prices fell below $4,250 as risk appetite returned and US Treasury yields rose. The greenback began to recover, a drag on gold prices. However, the biggest move was seen in US Treasury yields, with the 10-year US Treasury yield rising nearly three basis points. US President...
Metals are under pressure Friday, with silver falling more than 5%, the most in six months, after a record-breaking run in recent weeks. The pullback follows a rebound in Treasury yields, supported by easing concerns over regional banks and their lending activity -- a shift that's dampening haven demand, as my colleague Tatiana Darie noted earlier. Some of the weakness may also reflect profit taking after an exceptional year for the precious metals complex. Silver has surged 77% year-to-date, while gold is up 60%, leaving traders with ample incentive to lock in gains amid a...
Gold prices fell more than 2% on Friday (October 17th) after hitting a record high above $4,300 an ounce, pressured by a strengthening dollar and comments by U.S. President Donald Trump that "full-scale" tariffs on China would be unsustainable. Spot gold fell 1.7% to $4,251.19 an ounce at 11:37 a.m. ET (15:37 GMT), after hitting an all-time high of $4,378.69 earlier in the session. The precious metal broke through $4,300/ounce for the first time on Thursday, and is expected to post a weekly gain of 5.8%. U.S. gold futures for December delivery fell 0.8% to $4,268.60. The dollar index rose...
Oil is teetering on a third week of declines, weighed down by signs the market is reaching the surplus analysts have been waiting for. West Texas Intermediate is trading near $57 a barrel, expected to fall about 3% this week in its longest decline since March. Oversupply news continued to emerge this week. The International Energy Agency (IEA) raised its forecast for a global oversupply next year by about 18%. And a US storage broker reported a surge in bids to secure tanker capacity at the country's main crude hub in Cushing, Oklahoma, underscoring that traders are preparing for a supply...
Gold (XAU/USD) is on a record-breaking spree, hitting yet another all-time high near $4,380 on Friday as investors seek a reliable store of value amid geopolitical, economic and fiscal uncertainty. At the time of writing, XAU/USD is trading around $4,292, easing from record highs and down nearly 0.80% on the day. Despite the pullback, the metal remains on track for its ninth consecutive weekly gain. Lingering concerns over the prolonged US-China trade standoff remain a key driver behind Gold's recent surge as trade tensions continue to cast a shadow over global growth prospects. The rally...
Silver hovered all-time highs above $54 per ounce on Friday and was poised to gain about 8% for the week, supported by tightening global supply and strong safe-haven demand. Markets were rattled after two US regional banks disclosed loan problems involving alleged fraud, heightening fears of broader credit market stress. Escalating US-China trade tensions, the prolonged US government shutdown, and growing expectations of further Federal Reserve rate cuts also bolstered appetite for precious metals. Geopolitical risks and concerns over surging government spending and debt further fueled...
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....