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...
Gold prices rose more than 1% on Thursday (October 23rd) after two consecutive sessions of declines, as resurgent geopolitical risks boosted demand for safe-haven assets and investors prepared for key US inflation data due on Friday. Spot gold rose 1.4% to $4,149.39 an ounce, as of 11:05 a.m. ET (15:05 GMT), after falling to a near two-week low in the previous session. US gold futures for December delivery rose 2.5% to $4,165.80 an ounce. Prices hit a record high of $4,381.21 on Monday, but posted their sharpest decline in five years in the following session. GOLD VALUES JUMP THIS...
Oil prices surged after the US announced sanctions on Russia's largest oil companies, threatening supplies from one of the world's largest oil producers. West Texas Intermediate crude jumped 6.2% to trade above $61 per barrel, heading for its biggest one-day gain since the start of the Israel-Iran conflict on June 13. The US blacklisted Russian oil giants Rosneft PJSC and Lukoil PJSC in an attempt to cut off revenues needed for Russia's war in Ukraine. Senior refinery executives in India—a major buyer of Russian crude—said the restrictions would make it impossible for oil flows to...
Gold (XAU/USD) edges higher on Thursday, trading around $4,115, up nearly 0.40% for the day. Demand for safe-haven assets remains firm amid the prolonged budget deadlock in Washington and persistent geopolitical uncertainty. Expectations of further monetary easing by the Federal Reserve (Fed) continue to support the precious metal, with markets pricing in a 97% chance of a 25-basis-point rate cut next week, according to the CME FedWatch tool. Markets are treading carefully ahead of the September US Consumer Price Index (CPI) release, due Friday. This report will attract particular attention...
Dollar picks up slightly with CPI release in focus The U.S. dollar drifted higher Thursday as traders weighed up fresh trade threats between Washington and Beijing, ahead of the release of key inflation data. The Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% higher to 98.805, bouncing after recording hefty losses last week. The safe-haven dollar has edged slightly higher as traders have worried about the fragile state of U.S.-China relations, amid fears of a potentially damaging trade war between the world's two largest economies. Trump's...
Silver climbed above $49 per ounce on Thursday, recouping some losses from earlier in the week as mounting global trade and geopolitical tensions boosted demand for safe-haven assets. Reports indicated that the US is weighing export restrictions on China involving US-made software, though President Donald Trump later confirmed plans to meet with Chinese President Xi Jinping. At the same time, the Trump administration blacklisted Russia's top oil producers, Rosneft and Lukoil, in an effort to push Moscow toward talks to end the Ukraine war. Despite the rebound, silver remains nearly 10%...
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...