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...
Oil retreated after its biggest gain in more than five weeks as Europe's largest oilfield gradually restarted following a power outage. Brent futures traded near $73 a barrel as Equinor ASA restored production at the Johan Sverdrup oil field in the North Sea to two-thirds of capacity after yesterday's halt. Crude had surged 3.2% on Monday as the dollar weakened, making commodities more attractive to investors. Traders are also tracking the latest geopolitical tensions. Ukrainian armed forces carried out their first strike in a border region within Russian...
Gold futures rise on a weaker dollar and easing U.S. Treasury yields. Futures rise 0.6% to $2,630.30 a troy ounce. The precious metal has regained some ground after Donald Trump's U.S. presidential election victory prompted a surge in the greenback, suppressing gold demand. Geopolitical risks have reemerged, driving safe-haven demand for gold and solidifying its role as a reliable hedge, says Pepperstone's Ahmad Assiri. The precious metal's future trajectory has split market opinions, Assiri says in a note. It could sink to lower price levels if the Federal Reserve tightens U.S. monetary...
Gold prices climbed to a one-week high on Tuesday, buoyed by a softer U.S. dollar, while the market awaited comments from Federal Reserve officials for cues on the U.S. interest rate outlook. Spot gold rose 0.4% to $2,623.54 per ounce by 0246 GMT, the highest since Nov. 12. Prices rose 2% on Monday. U.S. gold futures gained 0.5% to $2,627.60. The U.S. dollar pulled back as profit-booking kicked in after last week's stellar rally. A weaker dollar makes bullion less expensive for buyers holding other currencies. The recent strong economic data has raised concerns on whether the Fed will...
Oil steadied after the biggest gain in more than five weeks as the dollar weakened and a risk-on tone swept across wider markets. Brent traded above $73 a barrel after surging 3.2% on Monday, while West Texas Intermediate was near $69. A gauge of the dollar headed for a third day of losses, making commodities priced in the currency less expensive for most buyers, and Asian shares followed Wall Street higher. Oil is still lower for the year as concerns around Chinese demand and plentiful global supply weigh on the outlook. The prompt spread for WTI — the difference...
Gold steadied, after jumping the most since August on Monday, with the market focused on the dollar and the Federal Reserve's interest-rate path. Bullion traded near $2,615 an ounce after surging 1.9% in the previous session, with the gains driven by a falling dollar and Treasury yields. The precious metal has been hit by the greenback rallying to a two-year high following Donald Trump's election win, as well as signs the Fed may have to slow the pace of rate cuts due to the inflationary policies the president-elect is pledging. However, Goldman Sachs reiterated its forecast for gold...
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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