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 prices rose on Thursday, driven by safe-haven demand amid light trading volumes following the Christmas holiday, as markets await signals regarding the U.S. economy under the incoming Trump administration and Federal Reserve's rate strategy for 2025. Spot gold rose 0.7% to $2,633.32 per ounce. U.S. gold futures added 0.6% to $2,650.20. "Some of gold's gains had to do with what's going on in Ukraine with Russia hitting Ukraine's electrical system," said Daniel Pavilonis, senior market strategist at RJO Futures. President Joe Biden said on Wednesday he asked the U.S. Defense Department...
Oil held steady after a rally, with stimulus measures in China and a U.S. industry report that signaled another draw in stockpiles in focus. Brent traded below $74 a barrel after rising 1.3% on Tuesday, with West Texas Intermediate nearing $70. In a bid to boost growth, China has given local officials more freedom in how they invest government bond proceeds, while keeping interest rates unchanged for now. Policymakers pledged a "moderately loose" monetary stance in the top crude importer earlier this month. In the U.S., the American Petroleum Institute said commercial crude inventories...
Oil rose as stimulus measures in China may help to bolster demand, and a US industry report flagged another drop in stockpiles. Brent climbed toward $74 a barrel after a 1.3% gain on Tuesday, with West Texas Intermediate above $70. In a bid to bolster growth, China is giving local officials more leeway in how they invest proceeds of government bonds, while keeping interest rates steady for now. Policymakers pledged a "moderately loose" monetary stance in the top crude importer earlier this month. Source: Bloomberg
Gold edges higher in early Asian trade. In the short- and medium-term, prices may experience fluctuations and volatility as there is no overall driving force amid the holidays, analysts at Nanhua Futures write in a note. For now, markets continue to expect the Fed to keep rates on hold in January, they add. Spot gold is 0.2% higher at $2,620.85/oz. Source: Bloomberg
Gold faces a two-way risk in 2025, with the Fed's monetary policy decisions, Trump's economic and foreign policies, and geopolitical developments becoming the main drivers. Bearish scenarioA de-escalation of geopolitical tensions in the Middle East and/or a resolution to the Russia-Ukraine crisis could trigger a sharp downward correction in Gold prices, given how much the precious metal benefited from these conflicts throughout 2024. Trump's "America First" approach suggests that his administration will be focused on domestic policies and possibly not prioritize international affairs. In...
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.
In...