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...
The Japanese yen (JPY) halted the previous day's decline against its US counterpart, although it lacked bullish conviction and remained close to the multi-month lows hit last week. The Bank of Japan's (BOJ) cautious stance on further interest rate hikes, coupled with the Federal Reserve's (Fed) hawkish policy shift, dampened expectations of a sharp narrowing in the US-Japan interest rate differential. This, along with a generally positive risk tone, continued to act as a headwind for the JPY. Meanwhile, a potential BOJ rate hike in January or March remains on the table following the...
Silver (XAG/USD) prices continued their uptrend for the third straight session, trading around $29.70 during the Asian trading hours on Tuesday. Prices of precious metals like Silver are likely to be supported by light trading activity ahead of the Christmas holiday. Additionally, weak US PCE data has eased inflation concerns, presenting a mixed economic outlook, which benefits non-yielding assets like Silver. However, Silver prices may come under downward pressure as traders continue to assess the Federal Reserve's (Fed) outlook for 2025, pricing in just two interest rate cuts in 2025...
Gold prices edged up in Asian trade on Tuesday, extending a sluggish performance as investors remained cautious about a rising dollar after the U.S. Federal Reserve's hawkish stance. Traders also refrained from placing big bets ahead of a holiday-shortened trading week. Spot gold edged up 0.2% to $2,617.22 an ounce, while February gold futures edged up 0.1% to $2,631.89 an ounce by 9:46 p.m. ET (0246 GMT). The yellow metal edged up 0.3% on Monday, after falling more than 1% in the previous week, reflecting uncertainty about the metal's outlook. Source: Investing.com
WTI crude oil futures climbed to around $69.5 per barrel on Tuesday, reversing losses from the previous session amid thin pre-holiday trading. Oil found support after fresh US data indicated that the economy of the key consumer remained strong heading into the year-end. Additionally, India's crude oil imports increased 2.6% year-on-year to 19.07 million metric tons in November, driven by strong demand amid rising economic and travel activity. However, concerns about potential oversupply next year kept prices under pressure. European supply fears also eased after reports that the Druzhba...
Gold rose above $2,610 per ounce on Tuesday amid subdued holiday-season trading. Investors continued to assess the Federal Reserve's outlook for next year, factoring in a slower pace of rate hikes in 2025 after the Fed signaled fewer reductions. However, this view was challenged by softer-than-expected US PCE inflation, suggesting the possibility of more rate cuts, which benefits a non-yielding gold. Meanwhile, the World Gold Council reported strong central bank demand, reinforcing gold's status as a safe-haven asset, with central banks as net buyers for over 15 years. The metal is on...
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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