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 and Treasury yields fell after Zions Bancorp and Western Alliance admitted to fraudulent lending to funds investing in troubled commercial mortgages. The Bloomberg Dollar Spot Index weakened 0.1% (the fourth straight day) and is heading for its worst week since July. The bond rally pushed the 2-year yield to its lowest level since September 2022, and the 5-year yield to its lowest since October 2024. "The USD moved lower as yields fell and regional bank concerns increased," said Mahjabeen Zaman (ANZ). USD/JPY briefly fell 0.3% to 149.93, breaking below 150 for the first time...
Gold climbs in the early Asian session amid safe-haven demand spurred by new credit-fraud fears. Regional banks in the U.S. came under renewed scrutiny Thursday after Zions Bancorp said it would take a large loss and revealed accusations of fraud against a set of borrowers who had ties to a number of other lenders in the industry. Safe-haven demand also comes amid intensifying trade frictions and expectations of further Fed monetary easing, says Bas Kooijman, CEO and asset manager at DHF Capital, in an email. Spot gold rises 0.9% to $4,366.29/oz after earlier touching a fresh record...
Oil headed for a third weekly decline as investors focused on supply and the fallout of renewed US-China trade tensions. West Texas Intermediate traded above $57 a barrel and is on track for a 2.4% weekly drop, while Brent settled near $61. US President Donald Trump said he would hold a second meeting with Russian President Vladimir Putin "within two weeks or so" aimed at ending the war in Ukraine, raising the prospect that an increase of barrels from the OPEC+ member will exacerbate a global gut. Oil is set to notch its longest weekly losing streak since March, as investors...
Oil prices plunged more than 1% on Thursday (October 16) after U.S. President Donald Trump said he and Russian President Vladimir Putin agreed to meet soon in Hungary to discuss ending the war in Ukraine, which has raised uncertainty over global energy supplies. Brent crude futures closed 85 cents, or 1.37%, lower at $61.06 per barrel. U.S. West Texas Intermediate crude futures closed 81 cents, or 1.39%, lower at $57.46. This was the lowest close for both benchmarks since May 5. Trump said he and Putin agreed on Thursday to meet soon in Budapest to discuss ending the war in Ukraine, one...
Gold hit a record high for the fourth straight session on Thursday, surging above $4,300 per oz as investors flocked to the safe-haven metal amid escalating U.S.-China trade tensions and the U.S. government shutdown, with speculation of an interest rate cut fueling the momentum. Spot gold rose 2.6% to $4,316.99 per oz at 4:07 p.m. ET (2007 GMT), after bullion hit a record high of $4,318.75 earlier. U.S. gold futures for December delivery closed 2.5% higher at $4,304.60, after hitting a record high of $4,335/oz. The yellow metal has gained more than 60% so far this year, driven by...
Gold has surged to a record high, fueled by speculation that the Federal Reserve will continue monetary easing and escalating U.S.-China tensions. The price of bullion has risen more than 6% so far this week and peaked above $4,280 an ounce on Thursday, continuing a sharp rally that began in August. This buying has also spread to other precious metals, with silver surging more than 3% on Wednesday as the London market remains tight. Traders are betting on at least one major U.S. interest rate cut by the end of the year, while Fed Chairman Jerome Powell hinted this week that the central...
Oil prices held steady near a five-month low amid mixed signals regarding US President Donald Trump's push to halt India's purchases of Russian crude. West Texas Intermediate was little changed and traded near $58 per barrel after earlier rising as much as 1.4%. Indian refiners said they expect to reduce—not halt—purchases of Russian crude, a move that could strain global supplies, following Trump's statement that the South Asian nation would halt all purchases. However, the market is still awaiting clarification from the New Delhi government, which has neither officially confirmed nor...
The U.S. dollar drifted lower Thursday on growing expectations of further interest rate cuts by the Federal Reserve this year, while signs of French political accord helped the euro. At 04:45 ET (08:45 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.2% lower to 98.342, headed for a weekly decline of 0.3%. More Fed cuts ahead?Market participants are becoming increasingly convinced that the U.S. central bank will follow last month's interest rate cut with more monetary easing as data points to growth slowing in the world's largest...
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....