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 price (XAU/USD) kicks off the new week on a positive note and sticks to its modest gains through the early European session. The US Treasury bond yields dropped to their lowest level since October amid bets that the Federal Reserve (Fed) will lower borrowing costs again in December. Apart from this, political disruption in South Korea, geopolitical tensions and trade war fears offer some support to the safe-haven XAU/USD. Investors now seem convinced that the US central bank will adopt a less dovish stance amid expectations that US President-elect Donald Trump's expansionary policies...
Silver prices rose above $31.10 an ounce on Monday, nearing a one-month high as investors awaited key US inflation data due later in the week, which could strengthen expectations of a Federal Reserve interest rate cut this month. The market is now pricing in an 83% chance of a 25 basis point rate cut, up sharply from 62% a week ago. Silver also rose alongside gold, following the resumption of bullion purchases by China's central bank after a six-month hiatus. In addition, the market is focused on this week's Central Economic Work Conference, which will outline China's economic priorities...
US West Texas Intermediate (WTI) crude oil prices showed some resilience below the $67.00 round figure and attracted some buyers at the start of a new week. The commodity is currently trading just below mid-$67.00s, up 0.60% for the day, and for now, appears to have snapped a three-day losing streak to a three-week low hit on Friday. The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, last week decided to delay a planned supply increase by three months to April and extend a full halt to cuts by one year to the end of 2026. Moreover, the worsening...
Gold rose above $2,640 an ounce on Monday, boosted by its appeal as a safe haven amid renewed geopolitical tensions in the Middle East, as well as growing expectations of a U.S. interest rate cut. Rebel forces in Syria toppled President Bashar al-Assad on Sunday, ending the Assad family's 50-year rule and raising concerns about a new wave of instability in the region. Friday's U.S. jobs report also indicated that the labor market continued to ease gradually, allowing the Federal Reserve to cut interest rates later this month. The market is now pricing in an 83% chance of a 25bps cut at...
The EUR/USD pair is trading with a mild negative bias near 1.0550 on Monday during the Asian trading hours. Investors will be closely watching the US Consumer Price Index (CPI) inflation report for November, due on Wednesday. On Thursday, the European Central Bank (ECB) interest rate decision will be in the spotlight. Investors will be looking for clues on what will happen next. Expectations for a quarter-point rate cut by the Federal Reserve (Fed) on December 18 increased last week after the employment report showed strong job creation, but not at a pace that would deter Fed officials from...
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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