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 surged above $3,400 to a new record high on Monday, as the dollar weakened and uncertainty over the economic impact of U.S.-China trade tensions spurred demand for safe-haven bullion. Spot gold rose 2.6% to $3,414.91 an ounce at 09:26 a.m. ET (1326 GMT). Prices hit a record high of $3,424.25 earlier in the session. U.S. gold futures rose 2.9% to $3,424.50. The dollar tumbled as investor confidence in the U.S. economy took another hit over President Donald Trump's comments about Federal Reserve chairman Jerome Powell. A weaker dollar makes bullion more appealing for other currency...
Oil retreated as traders fretted over the impact of the US-led trade war on energy demand, while sings of progress in talks between Washington and Tehran eased concerns about supplies from Iran. Brent crude fell as much as 2.9%, to $66.01 a barrel. The International Monetary Fund is set to cut growth forecasts, and other data may also show how President Donald Trump's trade policies are affecting the global economy. "Oil looks like it's taking a leg lower on general risk-off moves," said Ed Bell, head of research at Dubai lender Emirates NBD Pjsc. "The prevailing mood...
The GBP/USD pair rallies to near 1.3400 during European trading hours on Monday, the highest level seen in seven months. The Cable strengthens as the US Dollar (USD) has been battered by the threat to the Federal Reserve's (Fed) independence after United States (US) President Donald Trump. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, is down over 1% to a fresh three-year low near 98.00. Donald Trump has slammed Fed Powell for continuing to support a "wait and see" approach on the monetary policy until getting greater clarity over how the new...
EUR/USD breaks to near 1.1575 at the start of the week, the highest level seen in three-and-a-half years. The major currency pair strengthens as the US Dollar (USD) falls further due to escalating doubts over its safe-haven status. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, refreshes a three-year low near 98.00. The remarks over Federal Reserve (Fed) Chair Jerome Powell's termination by United States (US) President Donald Trump have shaken the credibility of the US Dollar and US assets, which had already faltered due to erratic headlines...
Gold price (XAU/USD) maintains its strong bid tone through the first half of the European session on Monday and currently trades near the all-time peak, just below the $3,400 mark. The severe nature of US President Donald Trump's international trade policies has raised the possibility of a US recession, which continues to weigh on investors' sentiment and benefits the safe-haven precious metal. Meanwhile, trump's back-and-forth tariff announcements have dented confidence in the world's largest economy. This, along with the prospects for more aggressive policy easing, drags the US Dollar...
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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