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 held the biggest decline in a week on cautious optimism about easing tensions in the Middle East and the outlook for supply. West Texas Intermediate traded below $62 a barrel after closing 1.7% lower on Thursday. Brent settled near $65. A peace agreement between Israel and Hamas took another major step forward following Israel's approval of a framework that would see hostages and prisoners released. OPEC+ agreed to raise production quotas again at a gathering on Sunday, exacerbating concerns of an oversupplied market in the coming months. Still, the...
Oil prices settled lower on Thursday after Israel and the Palestinian militant group Hamas signed an agreement to cease fire in Gaza. Brent crude futures closed down $1.03, or 1.6%, at $65.22 a barrel. U.S. West Texas Intermediate crude was down $1.04, or 1.7%, at $61.51. Israel and the Palestinian militant group Hamas signed an agreement on Thursday to cease fire and free Israeli hostages in exchange for Palestinian prisoners, in the first phase of U.S. President Donald Trump's initiative to end the war in Gaza. Under the ceasefire deal, fighting will cease, Israel will partially...
Gold price retreated during the North American session on Thursday after hitting a record high of $4,058, plunges below $4,000 as the Greenback posts solid gains.. XAU/USD trades at $3,978, down 1.5%. Safe haven demand eases amid Israel–Hamas ceasefire hopesThe Gold market mood turned negative on Thursday. Bullion prices fell as traders booked profits, sending prices toward a daily low of $3,944 as China's traders got back from holidays. Upbeat news regarding a permanent ceasefire between Israel and Hamas added to relief sentiment by market players. Despite this, the ongoing Russia-Ukraine...
Gold moved down from a record high early Thursday as traders take profits while the dollar rose to a two-month high. Spot Gold was last seen down 0,72% to $4,010.40 per ounce. The price of the precious metal has climbed 21% since Aug. 18 when it began to rise as U.S. President Donald Trump threatened the independence of the Federal Reserve, while the central bank signaled it was ready to begin lowering interest rates as the U.S. labor market weakened. Strong demand from central banks and exchange-traded funds have also offer support for the metal's record run. "Strong ETF inflows,...
The dollar weakened on Thursday (October 9th), for the first time this week; most G-10 currencies weakened on the day, with the Australian and Canadian dollars outperforming the rest. The Bloomberg Dollar Spot Index fell less than 0.1% USD/JPY rose for a sixth day to 152.79, the longest winning streak since December EUR/USD fell for a fourth straight day to 1.1611 GBP/USD fell for a third day to 1.3382 USD/CAD fell less than 0.1% to 1.3946, its first decline in three days The government shutdown delayed Thursday's release of US data covering initial and continuing jobless claims as...
Spot silver prices surged to their highest level in decades as surging demand for safe-haven assets exacerbated supply constraints in the London bullion market. The precious metal surged 2.3% past $50 an ounce on Thursday, its highest level since the Hunt Brothers' squeeze in the 1980s. Silver continued a surge that has lifted prices more than 70% this year, outpacing gold's record-breaking rally. This is part of a growing search for safe-haven assets fueled by concerns about fiscal risks in the US, an overheated equity market, and threats to the independence of the Federal...
Oil prices were little changed on Thursday (October 9) as investors weighed a ceasefire agreement in Gaza that could ease tensions in the Middle East against stalled peace talks in Ukraine that could extend sanctions on Russia and limit its exports. Brent crude futures fell 12 cents to $66.13 a barrel at 09:43 GMT. U.S. West Texas Intermediate crude fell 14 cents to $62.41. Egypt's government-affiliated Qahera TV reported that the ceasefire agreement between Israel and Hamas had officially taken effect just after midday in the region (09:00 GMT), when the rivals signed it in the Egyptian...
The US dollar strengthened on Thursday (October 9th), continuing its gains this week, driven by a weaker euro due to the political crisis in Paris and a weaker yen amid a change in the ruling party leadership in Japan. This week's markets were also overshadowed by the prolonged US government shutdown. The euro weakened following the resignation of French Prime Minister Sebastien Lecornu and his government earlier this week. However, President Emmanuel Macron still surprised markets with plans to appoint a new prime minister this week. The single currency last traded 0.2% lower at $1.1609,...
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....