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 were headed for their best week in a year on Friday, supported by safe-haven demand amid further escalations in the Russia-Ukraine war, while investors assessed the outlook for U.S. interest rate cuts. Spot gold rose 0.7% to $2,688.70 per ounce as of 0306 GMT. Bullion was up nearly 5% for the week so far, its best week since early October 2023. U.S. gold futures gained 0.6% to $2,691.00. Meanwhile, the Chicago Federal Reserve President on Thursday reiterated his support for further U.S. interest rate cuts and his openness to slowing them down. Markets are pricing in a 55.9%...
Oil prices rose on Friday after Russia said it had fired a ballistic missile at Ukraine and warned of a broadening conflict, raising the prospect of tightening crude supplies. Brent crude futures gained 14 cents, or 0.2%, to $74.37 a barrel by 0007 GMT. U.S. West Texas Intermediate crude futures rose 17 cents, or 0.2%, to $70.27 per barrel. Russian President Vladimir Putin said on Thursday that the Ukraine war was growing into a global conflict after the U.S. and Britain allowed Ukraine to strike Russia with their weapons. Putin, who said Russia responded to the use of U.S. andBritish...
The Japanese yen held around 154.3 per dollar on Friday after gaining some ground in the previous session, as investors digested the latest economic releases. Data showed that Japan's headline inflation rate slowed to a nine-month low of 2.3% in October, while the core inflation rate also dropped to 2.3%, a six-month low, slightly above the forecast of 2.2%. A separate report indicated that manufacturing activity in Japan contracted more than expected in November, although services activity expanded. Meanwhile, Bank of Japan Governor Kazuo Ueda signaled the possibility of another rate hike...
Gold consolidates in the early Asian session amid mixed signals. On the one hand, escalation in the Russia-Ukraine conflict has boosted demand from investors seeking safe-haven assets, ANZ Research analysts say in a note. On Thursday, Russian President Putin said Russia had used a new type of missile, called Oreshnik, to strike a major Ukrainian defense plant. On the other hand, gold has given up some of its gains after U.S. jobless claims unexpectedly fell, raising worries over a slower Fed rate-cut cycle, the analysts add. Spot gold is little changed at $2,670.08/oz. Source: Marketwatch
Spot gold rose for a fourth consecutive session on Thursday, hitting an over one-week high as safe-haven demand soared following AI bellwether Nvidia's lackluster revenue forecast and intensifying Russia-Ukraine tensions. Spot gold was up 0.6% at $2,666.00 per ounce, while U.S. gold futures rose 0.6% to $2,668.60. "It's really one main geopolitical factor that's at play here in the gold market over the course of the last several days - the increased tensions between Ukraine and Russia is probably most notable," said David Meger, director of metals trading at High Ridge Futures. Investors...
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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