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...
The Australian Dollar (AUD) edges lower against the US Dollar (USD) on Friday, extending its losses for the third successive session. The AUD/USD pair remains subdued as the US Dollar gains support after the release of the United States (US) Weekly Initial Jobless Claims on Thursday. The AUD also struggled after a weaker-than-expected jobs report, which showed that Australia's seasonally adjusted Employment Change arrived at -5.4K in August from 26.5K in July (revised from 24.5K), compared with the consensus forecast of 22K. Meanwhile, the Unemployment Rate steadied at 4.2% in August, as...
The Silver price (XAG/USD) gains ground to around $41.90 during the Asian trading hours on Friday. The white metal finds support from the US Federal Reserve (Fed) rate cuts. As widely expected, the Fed decided to cut its benchmark interest rate at its September meeting on Wednesday, the first time since December, and signaled more reductions are likely this year. Fed Chair Jerome Powell pointed to growing signs of weakness in the labor market to explain why officials decided it was time to cut rates after holding them steady since December amid concerns over tariff-driven inflation. Lower...
Oil prices are mixed in early Asian trade amid possible position adjustments. U.S. President Trump's remark that he preferred low oil prices over sanctions on Russia has eased worries over supply disruptions, ANZ Research analysts say in a research report. Trump told reporters that "if we get oil down, the war ends," a sign that he wants to limit the revenue which Russia is receiving from the oil industry to support its war with Ukraine, the analysts add. Front-month WTI crude oil futures are 0.1% lower at $63.51/bbl; front-month Brent crude oil futures are little changed at...
Gold edges lower in the early Asian session amid a cautious mood. The market still sees a high probability of another 25bps rate cut by the Fed in October, but the central bank's guidance leaned slightly hawkish, Sky Links Capital Group's Daniel Takieddine says in an email. Fed officials seem reluctant to fully endorse deeper easing, with the FOMC meeting's outcome leaving the precious metal sensitive to coming economic data, the co-founder and CEO adds. Spot gold is 0.1% lower at $3,638.75/oz. Source: Dow Jones Newswires
Oil prices weakened on Thursday (September 19), closing lower as traders remained concerned about the US economic outlook a day after the US Federal Reserve cut interest rates for the first time this year. Brent crude futures fell 51 cents, or 0.8%, to $67.44. US West Texas Intermediate (WTI) crude fell 48 cents, or 0.8%, to $63.57. The Fed cut its benchmark interest rate by a quarter of a percentage point on Wednesday and indicated it would continue lowering borrowing costs for the rest of the year, responding to signs of weakness in the labor market. Lower borrowing costs typically boost...
Gold prices fell on Thursday (September 19) amid profit-taking, after the yellow metal hit a record high in the previous session, as markets assessed the Federal Reserve's stance on further interest rate cuts. Spot gold fell 0.4% to $3,643.40 an ounce at 1:51 PM EDT (5:51 PM GMT). U.S. gold futures for December delivery closed 1.1% lower at $3,678.30. The previous session saw volatile trading, with spot prices briefly touching a record high of $3,707.40 before retreating. The U.S. dollar index strengthened 0.5%, making dollar-priced commodities more expensive for holders of other...
Oil prices were little changed on Thursday as traders weighed the start of looser monetary policy after the US Federal Reserve cut interest rates amid concerns about the US economy. Brent crude futures rose 23 cents, or 0.3%, to $68.18 a barrel at 10:50 a.m. EDT (14:50 GMT), while US West Texas Intermediate (WTI) crude rose 23 cents, or 0.4%, to $64.28. The Fed cut its benchmark interest rate by a quarter of a percentage point on Wednesday and indicated it would continue lowering borrowing costs for the rest of the year, responding to signs of weakness in the labor market. Lower borrowing...
Gold prices fell on Thursday (September 18th) due to profit-taking, after hitting a record high in the previous session, as the market assessed the Federal Reserve's stance on further interest rate cuts. Spot gold fell 0.6% to $3,639.05 an ounce at 11:15 a.m. EDT (15:15 GMT). U.S. gold futures for December delivery fell 1.2% to $3,672.20. The previous session was marked by volatile trading, with spot prices briefly reaching a record high of $3,707.40 before retreating. The U.S. dollar index strengthened 0.6%, making dollar-priced commodities more expensive for holders of other...
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....