OPEC on Tuesday raised its forecast for global oil demand next year and trimmed its forecast for growth in supply from the United States and other producers outside the wider OPEC+ group, pointing to a tighter market outlook. World oil demand will rise by 1.38 million barrels per day in 2026, the Organization of the Petroleum Exporting Countries said in a monthly report, up 100,000 bpd from the previous forecast. This year's expectation was left unchanged. Oil supply from countries outside the Declaration of Cooperation - the formal name for OPEC+ - will rise by about 630,000 barrels per...
Gold prices briefly broke above $3,500 per ounce to an all-time high on Tuesday, after U.S. President Donald Trump criticised Federal Reserve Chair Jerome Powell, rattling investors and increasing demand for the safe-haven asset. Spot gold was up 1.5% at $3,474.41 an ounce by 0743 GMT, after earlier rising as far as $3,500.05. U.S. gold futures gained 1.8% to $3,485.10. "The latest leg of the rally was triggered by President Donald Trump's public attack on Federal Reserve Chairman Jerome Powell," said Alexander Zumpfe, a precious metals trader at Heraeus Metals Germany. "As political...
Silver prices slipped nearly 1% to around $32.30 per ounce on Tuesday, as investors locked in profits following a strong rally in precious metals. The pullback came after recent gains driven by safe-haven demand amid rising fears over the global economic impact of escalating trade tensions. Market sentiment was weighed down by stalled US-China trade negotiations, with Beijing accusing Washington of abusing tariffs and cautioning other countries against one-sided deals. Meanwhile, President Donald Trump's calls for immediate interest rate cuts—and threats to remove Federal Reserve Chair...
USD/CHF continues to slide for the third consecutive session, trading near 0.8070 during Tuesday's Asian session. The pair remains under pressure as the US Dollar (USD) struggles against a backdrop of escalating economic and political uncertainty in the United States. This uncertainty has amplified the Swiss Franc's (CHF) earlier gains, initially fueled by President Donald Trump's aggressive reciprocal tariff proposals. These developments have driven investors toward safer assets, such as foreign currencies and gold, away from USD-denominated securities. The CHF's recent strength against...
The Japanese Yen (JPY) jumps to a fresh seven-month high against a broadly weaker US Dollar (USD), dragging the USD/JPY pair closer to the 140.00 psychological mark during the Asian session on Tuesday. Fears that US President Donald Trump's tariffs and the escalating US-China trade war would dent global economic growth continue to boost demand for traditional safe-haven assets, including the JPY. Apart from this, the growing acceptance that the Bank of Japan (BoJ) will continue raising interest rates in 2025 turns out to be another factor underpinning the JPY. The USD, on the other hand,...
Gold price continues to build on its record rally, closing in on the $3,500 mark in Asian trading on Tuesday. Investors continue to flock to safety in the traditional store of value, the Gold price, amid no confidence in the US Dollar and Trump's attacks on Fed Chairman Powell.ust as the US-China trade war-led US recession fears weren't enough to sap investors' confidence, US President Donald Trump doubled down on his criticism of Federal Reserve (Fed) Chairman Jerome Powell since last Friday, negatively impacting the already beleaguered US Dollar (USD), lifting the traditional safe-haven...
U.S. President Donald Trump announced Monday evening on Truth Social that Israel and Iran have agreed to a "Complete and Total CEASEFIRE" following what he referred to as "THE 12 DAY...
Gold moved above $2600 on Monday during the Asian trading session. Currently, Gold is still struggling to capitalize on last week's modest recovery from a one-month low and is fluctuating.
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