Gold prices rose for a second day mid-afternoon on Tuesday as treasury yields ease and international tensions run high after the Biden Administration permitted Ukraine to attack targets within Russia with U.S.-supplied missiles. Gold for December delivery was last seen up US$16.30 to US$2,360.90 per ounce. Following months of pressure, the Biden Administration over the weekend said Ukraine can make limited missile attacks on targets within Russia, which Moscow said will mean it is now at war with NATO. Gold's gain "were supported by a softer dollar and worsening US-Russia relations after...
Silver prices climbed above $31 per ounce on Tuesday, extending gains from the previous session as the dollar rally paused and investors reassessed the outlook for Federal Reserve monetary policy. The dollar faced a wave of profit-taking following its recent rally which was driven by expectations of fewer Fed rate cuts and optimism about US economic outperformance under the incoming Trump administration. Investors are now waiting for more comments from Fed officials this week for further guidance on the US interest rate path. Markets are also focused on China's upcoming LPR decision, with...
Gold prices climbed for a second straight session to hit a one-week peak on Tuesday as the U.S. dollar pulled back from recent highs, while investors awaited comments from Federal Reserve officials for clarity on its interest rate cut policy. Spot gold rose 0.8% to $2,634.20 per ounce, the highest since Nov. 11. Prices gained 2% on Monday, recovering from a two-month low hit reached last Thursday. U.S. gold futures added 1% to $2,641.10. "The selling has run out of steam and that's attracting those potential buyers sitting on the fence waiting for the market to stabilize to get back in,"...
Oil retreated after its biggest gain in more than five weeks as Europe's largest oilfield gradually restarted following a power outage. Brent futures traded near $73 a barrel as Equinor ASA restored production at the Johan Sverdrup oil field in the North Sea to two-thirds of capacity after yesterday's halt. Crude had surged 3.2% on Monday as the dollar weakened, making commodities more attractive to investors. Traders are also tracking the latest geopolitical tensions. Ukrainian armed forces carried out their first strike in a border region within Russian...