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...
Oil prices settled higher on Wednesday by more than $1 a barrel as investors worried about possible supply disruptions after Poland downed drones in its airspace and the U.S. pushed for new sanctions on buyers of Russian oil the day after an Israeli attack in Qatar, but a report showing swelling U.S. supplies capped gains. Brent crude futures settled up $1.10, or 1.7%, at $67.49 a barrel. U.S. West Texas Intermediate crude futures rose $1.04, or 1.7%, to settle at $63.67 a barrel. Geopolitical tensions mounted when Poland shot down drones over its airspace during a widespread Russian...
Gold surged near a record high of $3,650 an ounce on Wednesday (September 10) after an unexpected decline in US producer prices reinforced expectations that the Federal Reserve will continue cutting interest rates at its meeting next week. Both headline and core PPI fell 0.1% in August, against projections for a 0.3% increase, driven by a sharp decline in wholesale margins for machinery and vehicles. The data follows a weak labor market report earlier this month that has prompted markets to price in several Fed rate cuts this year. Investors now await Thursday's consumer price inflation...
Oil prices rose for a third straight session as investors weighed President Donald Trump's latest tariff threats against buyers of Russian crude, the impact of the Israeli strikes on Doha, and the prospect of a US interest rate cut. Brent traded around $67 per barrel, extending this week's gains to more than 2%. US producer prices fell unexpectedly, strengthening the case for the Federal Reserve to cut borrowing costs, potentially helping support energy demand. Trump told European Union officials he was willing to impose new tariffs on India and China, major importers of Russian crude, in...
Gold prices hovered near an all-time high on Wednesday, buoyed by expectations of a U.S. interest rate cut this month, while market participants awaited U.S. inflation data for clues on the Federal Reserve's monetary policy path. Spot gold was up 0.5% at $3,643.78 per ounce, as of 0821 GMT, after hitting a record high of $3,673.95 on Tuesday. U.S. gold futures for December delivery were flat at $3,682.30. "Gold's gains come on the back of expectations of Fed rate cuts, supported by signs of cooling in the U.S. labour market, which have weakened the dollar," Ricardo Evangelista, senior...
Oil prices rose on Wednesday (September 10th) after Israel attacked Hamas leaders in Qatar, Poland shot down a drone, and the US pushed for new sanctions on Russian oil buyers, but concerns over crude oversupply limited further gains. Brent crude rose 56 cents, or 0.8%, to $66.95 a barrel, as of 08:35 GMT, and U.S. West Texas Intermediate crude rose 56 cents, or 0.9%, to $63.19 a barrel. Prices had closed up 0.6% in the previous trading session after Israel said it had attacked Hamas leaders in Doha. Both benchmarks rose nearly 2% shortly after the strikes, but then recovered...
The US dollar held steady on Wednesday (September 10th) ahead of US inflation data this week that could help shape the Federal Reserve's policy outlook, while tense geopolitical conditions supported currencies like the Swiss franc. Last week's employment data showed that the US economy created far fewer jobs than expected last year, making a Fed interest rate cut next week seem a certainty. However, this did not shake confidence in equity markets, where stocks are trading at record highs, nor did it have a direct impact on the dollar itself, although investors are considering the...
The British pound (GBP) traded higher against other major currencies, except for the Antipodean currencies, on Wednesday. The British currency showed strength as market sentiment remained optimistic amid strong expectations that the Federal Reserve (Fed) will cut interest rates next week. On the domestic data front, investors are awaiting UK Gross Domestic Product (GDP) and factory data for July, scheduled for Friday. Monthly GDP growth in the UK economy is expected to stagnate after rising by 0.4% in June. Monthly Manufacturing and Industrial Production data are also expected to remain...
Gold prices edged higher on Wednesday, holding above the critical $3,600-per-ounce level, buoyed by expectations of a U.S. interest rate cut this month, while key inflation reports due this week were also on investors' radar. Spot gold was up 0.3% at $3,635.329 per ounce, as of 0101 GMT, after hitting a record high of $3,673.95 on Tuesday. U.S. gold futures for December delivery eased 0.2% to $3,673.70. "Sentiment is really bullish. There are several major factors driving gold prices right now. The primary is U.S. rate cut expectations," Capital.com financial market analyst Kyle Rodda...
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....