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...
Front-month gold futures settle up 0.2% to $2,740.30 an ounce, while SPDR Gold shares are up 0.1%. The moves come as U.S. Presidential candidates entered the day seemingly deadlocked. But, a win by either Harris or Trump isn't expected to alter the trajectory for gold prices much, says Taylor Krystkowiak of Themes ETFs. "The U.S. national debt is expected to rise under either candidate regardless of who ultimately wins," says Krystkowiak. "This has been a significant tailwind for gold in the months leading up to the election." Until the election concludes, volumes are expected to stay...
Gold held steady as US election day begins, with a Federal Reserve interest rate decision also due later this week. Bullion was near $2,740 an ounce, just shy of the all-time high set last week. While prices have been relatively stable so far on Tuesday, previous US elections have seen sharp swings. With polls suggesting a photo-finish result, the risk of a disputed outcome means that the vote count could drag on for days or even weeks. Meanwhile, the Fed and some of its rich-world peers are expected to lower borrowing costs later this week. Lower...
Gold (XAU/USD) continues to backslide from its record high, eventually finding support at $2,724 early on Tuesday and bouncing back to regain the $2,740s. A marginally weaker US Dollar (USD) due to uncertainty over the US presidential election result is aiding Gold in its rebound, since the precious metal is mostly priced and traded in USD. This comes as markets increasingly view the final result of the election as polarizing for the US currency, with a victory for Republican nominee Donald Trump USD-bullish but the opposite for Democrat nominee Kamala Harris. Gold rises from safety flows...
Gold futures rise 0.1% to $2,749.0 a troy ounce. The precious metal had set a fresh all-time high of at $2,801.80 per ounce at the end of October, followed by a small sell-off. Gold stands out as the commodity of choice for hedging the upcoming U.S. elections, JPMorgan analysts say in a note. A Kamala Harris victory would suggest policy continuity and trend-like growth while a Donald Trump win could lead to significant policy changes, JPM says. Bullion could therefore see further upside on market uncertainty, should Republicans sweep the election under Trump. Gold should remain supported on...
The Pound Sterling (GBP) trades broadly unchanged against its major peers, with investors focusing on the Bank of England's (BoE) policy meeting on Thursday. The BoE is expected to cut interest rates by 25 basis points (bps) to 4.75%. This would be the second interest rate cut of the year. Seven Monetary Policy Committee (MPC) members are expected to vote for further policy easing, while the remaining two will likely support keeping rates steady. BoE external member Catherine Mann is expected to be one of two members who would vote to keep interest rates at their current levels. In a panel...
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...