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 WAR." According to Trump's post, the ceasefire will begin approximately six hours after his announcement, when both nations have "wound down and completed their in progress, final missions." The agreement stipulates a 12-hour initial ceasefire period initiated by Iran, followed by Israel joining the ceasefire at the 12th hour. Trump stated that upon the 24th hour, there will be an "Official END" to the...
Gold (XAU/USD) prices held on to modest intraday gains through the first half of the European session on Wednesday, albeit lacked bullish conviction and remained below the $2,665 resistance zone retested the previous day. Uncertainty surrounding US President-elect Donald Trump's tariff plans, trade war fears, geopolitical tensions, and softer risk tone turned out to be key factors that acted as a tailwind for the safe-haven bullion. However, the Federal Reserve's (Fed) hawkish shift, which kept the US Treasury bond yields elevated near multi-month tops, along with the emergence of some...
Gold (XAU/USD) prices attracted some dip-buying following the previous day's decline from the $2,665 resistance zone, albeit lacked any follow-through or bullish conviction. The US Dollar (USD) bulls turned cautious and preferred to wait for the release of the FOMC Meeting Minutes before placing fresh bets. Additionally, uncertainty surrounding US President-elect Donald Trump's tariff plans, trade war fears, geopolitical tensions, and a softer risk tone turned out to be key factors that acted as a tailwind for the safe-haven bullion. Meanwhile, the Federal Reserve's (Fed) hawkish signal...
Silver prices held above $30.10 an ounce on Wednesday, near their highest level in more than three weeks despite pressure from a stronger dollar and rising Treasury yields. The move came as strong U.S. economic data reduced the likelihood of further interest rate cuts by the Federal Reserve. Silver, along with other safe-haven assets, has also benefited from uncertainty ahead of U.S. President-elect Donald Trump's inauguration on Jan. 20 and confusion over his tariff plans. Silver has also drawn support from hopes that China, the world's top consumer of the metal, will follow through on...
The dollar index held its recent advance to above 108.5 on Wednesday, supported by higher Treasury yields as strong US economic data diminished the likelihood of further Federal Reserve interest rate cuts. Growth in the US services sector accelerated in December, boosting business activity and pushing prices to their highest levels since early 2023. Job openings also rose by 259,000 to 8.098 million in November, surpassing expectations and reaching a six-month high. Investors are now focused on Friday's monthly jobs report, one of the last major data releases before the Fed's upcoming...
Gold price (XAU/USD) stabilizes following the previous day's late pullback from the $2,665 hurdle as traders opt to move to the sidelines ahead of Wednesday's release of the FOMC Minutes later during the US session. In the meantime, the prospects for slower rate cuts by the Federal Reserve (Fed) continue to push the US Treasury bond yields higher and act as a headwind for the non-yielding yellow metal. Apart from this, the underlying strong US Dollar (USD) bullish tone turns out to be another factor that contributes to capping the commodity. The downside for the Gold price, however, remains...
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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