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 strengthened on Wednesday (July 16th) on a weaker dollar, while investors awaited further clarity on trade talks between the US and its trading partners, with fresh inflation data due to provide further direction on the US Federal Reserve's policy outlook. Spot gold rose 0.6% to $3,341.29 per ounce, as of 09:10 GMT. US gold futures edged up 0.3% to $3,348.20. The US dollar (.DXY), opens a new tab, fell 0.1%, making gold cheaper for buyers holding other currencies. "The dollar is currently weakening ahead of the US PPI data as traders are taking a cautious stance after the recent...
Oil prices were steady on Wednesday (July 16), as signs of rising Chinese crude consumption were offset by investor caution about the broader economic impact of US tariffs. Prices have fluctuated within a tight range, as signs of steady demand from increased travel during the Northern Hemisphere summer season have competed with concerns that US tariffs on trading partners will slow economic growth and fuel consumption. Brent crude futures fell 17 cents, or 0.3%, to $68.54 a barrel at 08:44 GMT. US West Texas Intermediate crude futures fell 11 cents, or 0.2%, to $66.41. US President Donald...
The pound (GBP) attracted buying interest against other major currencies on Wednesday (July 16th) following the release of higher-than-expected UK Consumer Price Index (CPI) data for June. The Office for National Statistics (ONS) reported that headline inflation rose to 3.6% year-on-year, the highest level since January 2024. Economists had expected a steady 3.4% growth. Core CPI – which excludes volatile items such as food, energy, alcohol, and tobacco – rose 3.7%, faster than expectations and the previous figure of 3.5%. On a monthly basis, headline CPI grew by 0.3%, also faster than...
The U.S. dollar drew support from elevated Treasury yields on Wednesday, which in turn kept pressure on the yen after the latest U.S. inflation report showed signs that President Donald Trump's tariffs were beginning to feed into prices. Rising prices on goods as varied as coffee, audio equipment and home furnishings pulled the inflation rate higher in June, with substantial increases in prices of heavily imported items. That shored up the dollar and pushed bond yields higher on Wednesday as investors pared back expectations of Federal Reserve interest rate cuts this year. Against the...
Oil prices rose on Wednesday, boosted by expectations of firm summer demand in the world's two largest consumers, the United States and China, though gains were capped by analysts' caution about the wider economy. Prices have seesawed in a tight range as signs of steady demand from an increase in travel during the Northern Hemisphere summer have competed with concerns that U.S. tariffs on trading partners will slow economic growth and fuel consumption. Brent crude futures rose 13 cents, or 0.2%, to $68.84 a barrel by 0411 GMT. U.S. West Texas Intermediate crude futures were up 25 cents, or...
Gold prices rose on Wednesday as investors digested data showing an increase in U.S. consumer prices last month and waited for further clarity on U.S. President Donald Trump's trade policy. Spot gold was up 0.4% at $3,334.12 per ounce, as of 0401 GMT. U.S. gold futures edged 0.1% higher to $3,340.90. "Gold at this moment is consolidating with a slight downward bias, especially with a stronger dollar," said Brian Lan, managing director at GoldSilver Central, Singapore. "However, many countries are still negotiating with the U.S. on the tariffs. There are still a lot of uncertainties in the...
EUR/USD halts its five-day losing streak, trading around 1.1610 during the Asian hours on Wednesday. The pair appreciates despite the stable US Dollar (USD), driven by traders' caution ahead of the upcoming US Producer Price Index (PPI) later on Wednesday. The Fed Beige Book and Industrial Production will also be eyed. However, the US Dollar may regain its ground as the US inflation report for June reignited concerns about prolonged high Federal Reserve (Fed) interest rates. The US Consumer Price Index (CPI) rose 2.7% year-over-year in June, matching market expectations. Core CPI came in...
Silver price (XAG/USD) gains ground after registering losses in the previous two sessions, trading around $37.80 per troy ounce during the Asian hours on Wednesday. The safe-haven demand for Silver grows amid uncertainty from tariffs. US President Donald Trump sent notified 25 countries of new tariff rates set to take effect on August 1st, including major trading partners Canada, Mexico, and the European Union (EU). Moreover, Trump said late Tuesday that letters notifying smaller countries, including nations in Africa and the Caribbean, of their US tariff rates would go out soon, per...
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....