Goldman Sachs sees gold prices climbing 14% to $4,900 per ounce by December 2026 in its base case, it said in a note on Thursday, while citing upside risks to this view due to a potential broadening of diversification to private investors. In a note in which the bank discussed its views on commodities for 2026, Goldman Sachs said it expects structurally high central bank demand and cyclical support from U.S. Federal Reserve interest rate cuts to lift the price of gold. It continues to recommend long exposure in the yellow metal. Spot gold was trading at $4,334.93 per ounce at 1824 GMT on...
Australia's Gross Domestic Product (GDP) rose 0.6% QoQ in the second quarter (Q2) of 2025 compared with the 0.3% growth in the first quarter (revised from 0.2%), the Australian Bureau of Statistics (ABS) showed on Wednesday. This reading came in stronger than the expectations of 0.5% expansion. The annual second-quarter GDP grew by 1.8%, compared with the 1.4% growth in Q1 (revised from 1.3%), while above the consensus of a 1.6% increase. Market reaction to Australia's GDP data The upbeat Australia GDP report provides some support to the Australian Dollar (AUD). The AUD/USD pair is...
U.S. President Donald Trump on Monday doubled down on his criticism of India, calling trade ties with the country "a totally one sided disaster!" after Indian Prime Minister Narendra Modi visited China to attend the Shanghai Cooperation Organization summit. Trump in a post on Truth Social also said that India had offered to cut its tariffs to zero, but it was "getting late," and that the country should have done so "years ago," without elaborating on when such an offer was made. This comes against the backdrop of the U.S. imposing 50% tariffs on the country, including secondary duties of...
U.S. President Donald Trump expressed disappointment with Russian President Vladimir Putin and indicated his administration plans to take action regarding casualties in the Ukraine war. "I am very disappointed in President Putin, I can say that, and we will be doing something to help people live," Trump said Tuesday during an interview on The Scott Jennings Radio Show. Meanwhile,Trump not concerned about China-Russia axisU.S. President Donald Trump stated he is "not concerned at all" about a potential axis forming against the United States that includes China and Russia. Trump made these...
President Xi Jinping used a mix of friendliness and economic appeal this week to send a clear message to Donald Trump: Beijing has too much global influence for the US to dictate. Cameras captured the Chinese leader in a rare, unscripted meeting on Monday with Vladimir Putin and Narendra Modi – his strongest allies in countering America on the world stage – at a summit in the Chinese port city of Tianjin. At one point, Xi held hands with his Indian counterpart, while the three men shared a lighthearted laugh, a striking sight considering that just months earlier, New Delhi and Beijing were...
U.S. Treasury Secretary Scott Bessent defended President Donald Trump's removal of Federal Reserve Governor Lisa Cook, saying the central bank has "made a lot of mistakes" even as he stressed its independence, according to a Reuters interview. Speaking to Reuters, Bessent argued that allegations of mortgage fraud against Cook warranted scrutiny and suggested she should resign if they prove true. "She hasn't said she didn't do it. She's just saying the president can't fire her. There's a big difference," Bessent told Reuters. Cook, the first Black woman to serve on the Fed Board, was...
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...
Pasangan mata uang EUR/USD mengawali pekan ini dengan nada sedikit melemah di sesi Asia, diperdagangkan di sekitar 1,1730, turun kurang dari 0,10% dalam sehari. Meski terkoreksi, euro masih berada...
US President Donald Trump said Washington is willing to provide security assistance to Ukraine as part of a deal to end the war with Russia. He emphasized that security support is a crucial factor...