Renewed tensions between the United States and Russia have resurfaced following an incident involving an oil tanker, sparking market concerns about potential disruptions to global energy supplies. Washington's move, associated with tightening oversight and enforcement of sanctions on Russian oil shipments, is viewed by Moscow as provocative and could worsen relations between the two countries. Russia views these actions as an attempt by the United States to suppress Russian energy exports and strengthen its dominance in the global oil market. Meanwhile, Washington argues that these measures...
Spot gold rose for a fourth consecutive session on Thursday, hitting an over one-week high as safe-haven demand soared following AI bellwether Nvidia's lackluster revenue forecast and intensifying Russia-Ukraine tensions. Spot gold was up 0.6% at $2,666.00 per ounce, while U.S. gold futures rose 0.6% to $2,668.60. "It's really one main geopolitical factor that's at play here in the gold market over the course of the last several days - the increased tensions between Ukraine and Russia is probably most notable," said David Meger, director of metals trading at High Ridge Futures. Investors...
Oil rose on signs that the Russia-Ukraine conflict is escalating further. Brent climbed toward $74 a barrel after Ukraine said Russia launched an intercontinental ballistic missile at the central city of Dnipro, following the expanded use of Western-provided long-range weapons by Kyiv's forces. The Russian strike, if confirmed, appears to be the first use of such a weapon since its development at the inception of the Cold War. There have also been some bullish signs for prices in recent days, with premiums of refined products over crude climbing to multi-month...
Bullion traded above $2,660 an ounce after Ukraine said that Russia had launched an intercontinental ballistic missile at the central Ukrainian city of Dnipro. The strike appears to be the first reported use of an ICBM, which is designed to hit targets thousands of kilometers away, since the beginning of the invasion. Heightened geopolitical tensions tend to benefit the precious metal. Bullion is clawing back losses seen in the immediate aftermath of Donald Trump's victory in the US election, which sparked a rally in the US dollar. Gold has gained almost 30% this year and there are...
Oil prices rose on Thursday as geopolitical concerns over rising tensions between Russia and Ukraine outweighed the impact of a larger-than-expected build in US crude inventories. Brent crude futures rose 60 cents, or 0.82%, to $72.81 by 0734 GMT. US West Texas Intermediate crude rose 64 cents, or 0.93%, to $69.39. Ukraine fired a series of British Storm Shadow cruise missiles at Russia on Wednesday, the latest Western weapons authorized for use on Russian targets, a day after firing US ATACMS missiles. Moscow says using Western weapons to attack Russian territory far from its borders...
Gold futures rose on safe-haven demand. Gold futures were up 0.7% at $2,670.80 an ounce. Rising geopolitical tensions between Russia and Ukraine, exacerbated by Russia's latest nuclear threats, have prompted investors to seek stable assets like gold, said Antonio Di Giacomo of XS.com. However, gold's rally has not been as sharp as some traders had hoped, capped by the strength of the dollar, he said in a note. Since both are considered safe-haven assets, the strength of the dollar reduces the relative demand for gold. Expectations of new monetary policy decisions by major banks—including...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
European stock indices closed marginally lower on Wednesday as equities took a breather from their recent strong momentum, while investors continued to assess the outlook for the ECB's policy this...
The upcoming Supreme Court ruling on the legality of President Donald Trump's massive tariffs, which rocked markets in April, is one of the next major tests for US stocks and bonds.
Equity markets...