Gold prices rose to record highs in Asian trade on Thursday, benefiting from a softer dollar as the Federal Reserve still signaled at least two more interest rate cuts this year. The yellow metal extended a run of recent gains, as it continued to benefit from heightened safe haven demand due to the collapse of the Israel-Hamas ceasefire, sluggish Russia-Ukraine peace negotiations, and increased uncertainty over the U.S. economy under President Donald Trump. Spot gold rose 0.2% to a record high of $2,057.36 an ounce, while gold futures expiring in April hit a peak of $3,065.09 an...
Gold hovered around $3,050 per ounce on Thursday, a fresh record, supported by rising US rate cut expectations and strong safe-haven demand. The Federal Reserve noted increased economic uncertainty but still expects to cut rates by 50 bps this year, matching its December projection and boosting non-yielding gold. Meanwhile, tensions in the Middle East escalated as Israel launched "targeted ground activities" in Gaza, retaking part of a key area after an airstrike ended a two-month ceasefire with Hamas. The US also kept striking Houthi targets in Yemen after Red Sea attacks, with Trump...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $67.20 during the early Asian session on Thursday. The WTI price edges higher amid the ongoing geopolitical tensions in the Middle East. However, the Federal Reserve's (Fed) decision to hold interest rates steady might cap the upside for WTI price. The Israeli military resumed ground operations in the central and southern Gaza Strip. US President Donald Trump threatened to continue his country's attack on Yemen's Houthis and said he would hold Iran responsible for any attacks carried out by the group that has...
The Australian Dollar depreciated as Employment Change declined by 52.8K in February, missing the consensus forecast of a 30.0K increase. The PBOC kept its Loan Prime Rates (LPRs) unchanged, with the one- and five-year rates at 3.10% and 3.60%, respectively. The Fed reaffirmed its expectation of two rate cuts later this year but highlighted uncertainty arising from Trump's tariff policies. The Australian Dollar (AUD) weakens against the US Dollar (USD) on Thursday, reversing gains from the previous session. The AUD/USD pair declines as the AUD receives downward pressure following the...