Gold weakened slightly on Thursday (September 11), but held near record highs well above $3,600, as a modest dollar recovery and profit-taking weighed on prices, while investors awaited US consumer inflation data due later in the day. Spot gold fell 0.3% to $3,629.23 an ounce, as of 08:11 GMT. Bullion hit a record high of $3,673.95 on Tuesday. US gold futures for December delivery fell 0.4% to $3,666.70. The US dollar index rose 0.2% to a near one-week high against a basket of major currencies, making dollar-priced gold more expensive for overseas buyers. "Gold appears to be under some...
Gold prices weakened on Thursday, pressured by a stronger U.S. dollar, as investor concerns eased temporarily after President Donald Trump said he had no plans to fire Federal Reserve Chairman Jerome Powell. Spot gold fell 0.5% to $3,330.21 an ounce, as of 08:27 GMT. U.S. gold futures fell 0.7% to $3,335.70. The dollar index (.DXY), opened in a new tab, rose 0.3% against a basket of major currencies on Thursday, making dollar-denominated bullion more expensive for holders of other currencies. This came after a source told Reuters on Wednesday that Trump was open to the idea of firing...
Silver price (XAG/USD) trades in a tight range around $38 during the Asian trading session on Wednesday. The white metal consolidates as investors await more cues regarding trade talks between the United States (US) and the European Union (EU). On Wednesday, US President Donald Trump stated that Washington could possibly has a deal with the EU, while expressing confidence that a trade pact with India is on the horizon. "We're very close to India, and we could possibly make a deal with EU, Trump said in an interview aired on Real America's Voice. Trump's comments came at a time when EU...
Oil prices rose on Thursday, reversing declines in the previous three sessions, buoyed by stronger-than-expected economic data from the world's top oil consumers and signs of easing trade tensions. Brent crude futures rose 24 cents, or 0.35%, to $68.76 a barrel at 0457 GMT. U.S. West Texas Intermediate crude futures were up 33 cents, or 0.5%, at $66.71. Both benchmarks fell more than 0.2% in the previous session. U.S. President Donald Trump has said letters notifying smaller countries of their U.S. tariff rates would go out soon, and said on Wednesday that he would probably put a blanket...
Gold prices fell in Asian trade on Thursday amid some improvement in risk appetite after U.S. President Donald Trump downplayed fears that he will prematurely fire Fed Chair Jerome Powell. Broader metal prices were also subdued amid pressure from a stronger dollar, which steadied near a three-week high following sticky inflation data for June. But haven demand for gold remained upbeat, especially amid growing uncertainty over Trump's tariffs, which are set to take effect in just over two weeks. Platinum and silver also largely maintained their outperformance over gold. Spot gold fell...
The US dollar index edged up to 98.4 on Thursday, recovering slightly after a volatile previous session that ended lower amid renewed concerns over the Federal Reserve's independence. Reports emerged overnight suggesting US President Donald Trump might fire Fed Chair Jerome Powell, though Trump later denied this, saying it was "highly unlikely." On the data front, US producer prices were unexpectedly unchanged in June, supporting the case for Federal Reserve rate cuts later this year. Investors are now awaiting retail sales data, due later today, for further insight. In trade...
The Australian dollar weakened to below $0.650 on Thursday, pulling back gains from the previous session, as weaker-than-expected labor data reinforced expectations of an RBA rate cut in August. The Australian Bureau of Statistics reported that the unemployment rate rose to an over three-year high of 4.3% in June, ending its five-month hold and exceeding forecasts of 4.1%, while employment increased by just 2K, well below the expected 20K gain. The soft labor market print added to evidence of a slowing economy, strengthening the case for policy easing. Markets are now pricing in an 89%...
The Japanese yen fell to around 148 per dollar on Thursday, as investors reacted to disappointing trade figures that fueled concerns about a potential technical recession. Japan's trade surplus narrowed to JPY 153.1 billion in June 2025, from JPY 221.3 billion a year earlier and well below market expectations of a JPY 353.9 billion surplus. Exports fell 0.5% yoy to JPY 9,162.6 billion—marking a second straight monthly decline and missing forecasts of a 0.5% gain. The drop was driven by continued pressure from the US tariff campaign, raising fears that Japan's economy may contract again in...
Gold steadied after a volatile session on Wednesday as traders assessed the outlook for Jerome Powell's tenure as Federal Reserve chair after more speculation that President Donald Trump may ax him. Bullion was below $3,350 an ounce after rising 0.7% in the previous session. The president said he's "not planning on doing anything" to remove Powell, after a White House official said Trump was likely to seek the Fed chair's ouster. Gold surged, and US stocks, the dollar and Treasury yields dropped after the initial speculation before Trump's clarification calmed markets. Still, concerns...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
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....