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 prices hit a new record early this week, hitting $3,920 per ounce on Monday, October 6, 2025, before a slight correction. This surge fueled investor concerns over the ongoing US government shutdown. This uncertainty prompted a massive outflow of funds into safe-haven assets like gold. The shutdown also caused the postponement of US employment data, which was scheduled for release last Friday, further clouding the picture of the US economy. With crucial data withheld, investors grew wary, and precious metals became a prime choice for hedging. So far this year, gold has risen nearly 50%...
OPEC+ is once again playing it cautiously. For the second consecutive month, the world's largest oil producer group only increased supply by 137,000 barrels per day—a figure significantly lower than market expectations. Although Saudi Arabia and Russia initially disagreed, this decision indicates they are still trying to maintain a balance between maintaining prices and regaining market share. But the move comes at a less than ideal time. The global oil market is becoming oversupplied, with oil reserves continuing to grow and global demand predicted to slow. According to the International...
Oil headed for the biggest weekly loss since late June as traders positioned for a key OPEC+ decision on supply this weekend. Brent futures edged marginally higher on Friday, but were still trading below $65 a barrel and set for a weekly slump of about 8%. Prices have declined the past four days on the expectation OPEC+ will discuss fast-tracking more supply hikes. Meanwhile, efforts by the Trump administration to keep oil exports flowing from northern Iraq, as well as a US government shutdown, have added to the bearish sentiment. The OPEC+ meeting comes as...
The dollar headed for its worst week since late July on Friday (October 3rd) as the US government shutdown heightened uncertainty, while the yen weakened from this week's high as traders considered the Bank of Japan's next move ahead of this weekend's ruling party leadership election. The dollar index, which measures the greenback against a basket of major currencies, was flat at 97.77. The euro rose 0.2% to $1.1736. The pound sterling strengthened 0.1% to $1.345. "The government shutdown in the US is having an impact on market participants, meaning we're not getting the data we normally...
Gold prices held steady on Friday (October 3), poised for a seventh consecutive weekly gain, driven by expectations of further US interest rate cuts and concerns over the economic impact of a prolonged government shutdown. Spot gold rose 0.03% to $3,857.25 an ounce at 09:21 GMT, after hitting a record high of $3,896.49 on Thursday. Bullion has gained 2.6% so far this week. US gold futures for December delivery rose 0.32% to $3,880.50 an ounce. The prolonged US government shutdown, now in its third day since Friday, has delayed key economic data, including the non-farm payrolls report...
Oil prices edged higher on Friday but remained on course for a weekly loss of about 7-8% after news of potential increases to OPEC+ supply. Brent crude futures gained 43 cents, or 0.67%, to $64.54 a barrel by 0826 GMT. U.S. West Texas Intermediate crude was up 46 cents, or 0.76%, at $60.94. For the week, Brent was trading 8% down and WTI was on course for a 7.3% decline. "We are in a wait-and-see mode for what the OPEC+ Group of Eight will decide over the weekend," said UBS analyst Giovanni Staunovo, adding that Friday's modest price recovery is likely to be attributable to positive risk...
Silver slipped below $47 per ounce on Friday but remained on track for a seventh consecutive weekly gain, supported by expectations of further US rate cuts and uncertainty from the government shutdown. Recent US data reinforced bets on more easing, with markets nearly fully pricing in a 25 basis point cut this month and another by December. Politically, the shutdown has so far shown limited direct impact, though it heightened concerns over fiscal policy, inflation risks and labor market weakness. It also triggered a data blackout, forcing the Labor Department to postpone Friday's September...
The Australian dollar (AUD) weakened slightly against the US dollar (USD) following the release of a number of economic data, but then stabilized on Friday. Recent data showed that business activity in Australia is slowing. The Composite Purchasing Managers' Index (PMI) fell to 52.4 in September, from 55.5 in August. This indicates that economic growth is still ongoing, but at a slower pace, marking the lowest level since June. The services sector also slowed, although it continued to grow for 20 consecutive months. Furthermore, Australia recorded a decline in its trade surplus. In August,...
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....