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 was higher for a fifth-straight session mid-afternoon on Friday, continuing a recovery from post-election losses even as the dollar rose to the highest level in two years. Gold for February delivery was last seen up US$39.20 to US$2,738.50 per ounce. The rise comes on safe-haven demand after Ukraine made its first attack on Russia using foreign missiles and Russia retaliated by firing a newly developed hypersonic ballistic missile at the city of Dnipro amid further nuclear threats from the country. The threats prompted safe-haven buying of the precious metal as it recovers from a...
Gold futures rise, on track for one of its strongest weekly gains in years. Futures are up 1.1% at $2,704.20 a troy ounce, and are up 5.2% on-week. The precious metal has recovered more than half its losses since a fresh record at the end of October was swiftly followed by a sharp sell-off. Given the threat of an escalation in the war in Ukraine, its gains reflect safe-haven demand, Commerzbank analysts say in a note. This has been demonstrated by significant inflows into gold ETFs in recent days, they say. According to the latest Swiss gold exports for October, demand for the precious...
The euro headed for its seventh weekly decline in eight as PMI data out of the euro area's two largest economies increased the chances of a big interest-rate cut by the European Central Bank next month. EUR/USD dives by 1.3% to 1.0335, lowest since Nov. 2022, before paring losses; huge stop entries went through on the breaks of 1.0440, 1.0400 and 1.0350 as digital options exposure kicks in, Europe-based traders say. Euro heads for its worst three-day decline since Sept. 2022; there's no strong technical support until Fibonacci level of $1.0201. Euro-area business...
Gold is headed for its biggest weekly gain since October last year as the escalating Russia-Ukraine conflict boosts its safe-haven appeal, with traders also weighing the prospect of further easing by the Federal Reserve. Bullion rose 1.4% to $2,706.73 an ounce at 9:43 a.m. in London after Ukraine said Russia launched a "new" type of ballistic missile toward the city of Dnipro in a worrying signal to Kyiv's Western backers. Rising geopolitical tensions tend to drive investors into safe-haven assets, such as bullion. "The counter-escalation between Russia and Ukraine has raised the...
Oil prices edged higher on Friday, on track for a weekly gain of more than 4%, as the Ukraine war escalated, with Russian President Vladimir Putin warning of a global conflict. Brent crude futures rose 17 cents, or 0.2%, to $74.40 a barrel by 0722 GMT. U.S. West Texas Intermediate crude rose 20 cents, or 0.3%, to $70.30 a barrel. Both contracts jumped 2% on Thursday and were set to close the week up more than 4%, their strongest performance since late September, as Moscow escalated its attacks on Ukraine after Britain and the United States allowed Kyiv to attack Russia with their...
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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