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...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $69.30 on Wednesday. The WTI price trades flat after Ukraine used US ATACMS missiles to strike Russian territory for the first time. On Tuesday, Russia's defense ministry said that Ukraine hit a facility in the Bryansk region with six ATACAMS missiles. In response, Russian President Vladimir Putin lowered the threshold for a possible nuclear strike. The rising geopolitical tensions could boost the WTI price for the time being. "This marks a renewed build up in tensions in the Russia-Ukraine war and brings back into...
Gold edges higher in early Asian trade. The precious metal's appeal as a safe-haven asset has been supported by the escalating geopolitical tensions, particularly the ongoing conflict between Russia and Ukraine, says FlowCommunity's commercial director Tito Iakopa. Ukraine fired U.S.-provided long-range missiles in Russia on Tuesday. Concerns over trade uncertainties and U.S. fiscal sustainability may also provide support for higher gold prices, Iakopa says in an email. Spot gold is 0.1% higher at $2,635.88/oz. Source: Marketwatch
Oil futures hold on to the previous day's gains with attempts at a move lower held back by increased geopolitical risk premium on reports that Ukraine fired U.S.-supplied long-range missiles into Russia days after the U.S. authorized their use, raising concerns of an escalation in the conflict. Bearish views of the global supply and demand situation continue to cap rallies. "With China finding it difficult to get back on a growth trajectory north of 5% and the U.S. and Europe undergoing a cyclical slowdown, crude oil demand in 2024 and 2025 is set to grow at barely half of the 2 million b/d...
Gold prices rose for a second day mid-afternoon on Tuesday as treasury yields ease and international tensions run high after the Biden Administration permitted Ukraine to attack targets within Russia with U.S.-supplied missiles. Gold for December delivery was last seen up US$16.30 to US$2,360.90 per ounce. Following months of pressure, the Biden Administration over the weekend said Ukraine can make limited missile attacks on targets within Russia, which Moscow said will mean it is now at war with NATO. Gold's gain "were supported by a softer dollar and worsening US-Russia relations after...
Silver prices climbed above $31 per ounce on Tuesday, extending gains from the previous session as the dollar rally paused and investors reassessed the outlook for Federal Reserve monetary policy. The dollar faced a wave of profit-taking following its recent rally which was driven by expectations of fewer Fed rate cuts and optimism about US economic outperformance under the incoming Trump administration. Investors are now waiting for more comments from Fed officials this week for further guidance on the US interest rate path. Markets are also focused on China's upcoming LPR decision, with...
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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