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 (XAU/USD) shines bright at the start of the new week, climbing past $3,800 for the first time and reaching a fresh record high. The yellow metal continues its historic run, printing yet another all-time high near $3,831 on Monday. At the time of writing, XAU/USD is trading near $3,826, up around 1.70% on the day, extending its record-breaking rally into a seventh straight week. After spending much of last week consolidating just below the previous all-time high near $3,791, momentum returned on Friday following the release of the US Personal Consumption Expenditures (PCE) inflation...
The dollar weakened on Monday (September 29) amid concerns over a potential government shutdown, with the yen outperforming the euro ahead of a series of US economic data releases that could provide further clues about the direction of Federal Reserve policy. The dollar strengthened last week following economic data that pushed down expectations for a Fed rate cut. Traders now expect the Fed to ease policy by 40 basis points in December and a total of 105 basis points by the end of 2026, about 25 basis points lower than the levels seen in mid-September. US GOVERNMENT SHUTDOWN PARTIALLY...
Oil declined on signals that OPEC+ will hike production again in November, tempering a strong rally last week. Brent fell back below $70 a barrel after closing at the highest level since late July on Friday. The OPEC+ alliance led by Saudi Arabia is considering raising output by at least as much as the 137,000 barrel-a-day hike scheduled for next month, according to people familiar with the plans. While such an increase could add supply to a market in which there's already expected to be an excess, it would also bring further scrutiny to which of the group's members are...
Gold prices surged above $3,800 per oz for the first time on Monday, boosted by growing speculation of a US Federal Reserve interest rate cut, weakening the dollar, while concerns over a possible US government shutdown boosted demand for safe-haven assets. Spot gold prices jumped 1.5% to $3,816.79 per oz at 09:23 GMT, after reaching $3,819.59 earlier in the session. US gold futures for December delivery rose 1% to $3,846.60. The US dollar index fell 0.3%, making dollar-priced bullion cheaper for overseas buyers. US President Donald Trump will meet with Democratic and Republican leaders in...
Gold surged above the key $3,800-per-ounce level for the first time ever on Monday, supported by a weaker dollar and growing expectations that the Federal Reserve will cut interest rates further this year. Spot gold jumped 1.1% to $3,801.88 per ounce by 0435 GMT. U.S. gold futures for December delivery rose 0.6% to $3,831.90. The U.S. dollar index, opens new tab eased 0.2% against its rivals, making greenback-priced bullion less expensive for overseas buyers. The U.S. Commerce Department said on Friday its Personal Consumption Expenditures Price Index (PCE) rose 0.3% in August, versus a...
Silver price (XAG/USD) is trading around new 14-year high of $46.64, marked during the Asian hours on Monday. The non-interest-bearing Silver attracts buyers as the US August inflation report boosts the odds of the US Federal Reserve (Fed) delivering another interest rate cut in October. It is worth noting that investors could put their bets on precious metals including Silver in terms of gaining better investment returns. Markets are now pricing in nearly an 89% chance of a Fed rate cut in October and a 66% possibility of another reduction in December, according to the CME FedWatch...
The Australian Dollar (AUD) appreciates on Monday, with the AUD/USD pair extending its gains for the second consecutive session. The US Dollar (USD) weakens as traders brace for shutdown risks of the United States (US) government, beginning from October 1. The AUD also draws support from fading odds of near-term policy easing by the Reserve Bank of Australia (RBA), driven by recent data showing a hotter-than-expected consumer price index in August. Markets now price only a 6.5% chance of a 25-basis-point rate cut at September's meeting scheduled on Tuesday and 38.2% probability at its...
EUR/USD continued its rally for the second consecutive session, trading around 1.1720 during the Asian session on Monday. The pair strengthened as the US dollar (USD) weakened after the August US inflation report increased the likelihood that the Fed will cut interest rates again in October. The US Personal Consumption Expenditures (PCE) Price Index rose 2.7% year-on-year in August, compared to 2.6% previously. This figure was in line with analysts' projections. Core PCE, which excludes food and energy prices, reached 2.9% year-on-year during the same period, also in line with...
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....