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 rose on Wednesday, rebounding from an over one-week low hit in the previous session, on a weaker dollar, but trimmed earlier gains after data showed stalled inflation progress, hinting that the U.S. Federal Reserve might be cautious on further rate cuts. Spot gold was up 0.4% at $2,641.34 per ounce. U.S. gold futures rose 0.7% to $2,640.60. U.S. consumer spending increased solidly in October, but progress lowering inflation appears to have stalled in the past months. "We think that the small correction that we just saw in the metals in reaction to data was mostly driven by personal...
Oil edged higher as signs OPEC+ will once again delay restoring output countered easing geopolitical risk in the Middle East. Brent traded above $73 a barrel, after sliding in the prior two sessions on anticipation of a truce between Israel and Hezbollah. OPEC+ talks to delay a production restart have begun ahead of a meeting this weekend, allaying concerns over a supply glut. Israel started a cease-fire with the Iran-backed militant group after weeks of talks mediated by the US. Oil options markets have begun pricing a lower risk of escalation and hundreds of...
Silver prices (XAG/USD) broadly unchanged on Wednesday, according to FXStreet data. Silver trades at $30.54 per troy ounce, broadly unchanged 0.12% from the $30.50 it cost on Tuesday. Silver prices have increased by 28.33% since the beginning of the year. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 86.79 on Wednesday, up from 86.30 on Tuesday. Source : FXStreet
Gold price (XAU/USD) sticks to modest intraday gains near a two-day high, above the $2,650 level, through the first half of the European session as geopolitical risks and US President-elect Donald Trump's tariff plans drive haven flows for the second straight day. Furthermore, sliding US Treasury bond yields keep the US Dollar (USD) depressed near the weekly trough and assist the commodity in building on the overnight bounce from the $2,600 neighborhood, or a one-week low. Apart from this, a weaker tone around the European equity markets turns out to be another factor that benefits the...
Gold (XAU/USD) prices attracted some follow-through buying during the Asian session on Wednesday and seemed to firm on the overnight uptick from the $2,600 range, or a one-week low. Ongoing geopolitical risks stemming from the prolonged Russia-Ukraine war, along with concerns over US President-elect Donald Trump's tariff plans, drove some haven flows towards the precious metal for the second straight day. Meanwhile, the US Dollar (USD) consolidated near the lower end of its weekly range despite upbeat US macro data on Tuesday which turned out to be another factor supporting Gold prices....
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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