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 futures slip 0.2% to $2,612 a troy ounce. U.S. dollar-denominated commodities like gold have been pressured in the wake of Donald Trump's victory in the U.S. election. Market expectations for fewer interest-rate cuts and a resurgence in inflationary pressures given Trump's planned tax and tariff laws have started to play against the precious metal, says Capital.com's Daniela Sabin Hathorn. In the short term, investor attitude toward gold has turned bearish, but gold isn't a hard sell just because the market expects fewer rate cuts, Hathorn says in a note. There is still plenty for...
Oil held close to this month's low, following steep losses in the previous two days, amid a soft demand outlook in China, a stronger US dollar and concerns the market may flip to oversupply. Brent crude edged higher near $72 a barrel, paring an earlier decline, after shedding 5% over two sessions, while West Texas Intermediate traded below $69. The recent tumble has coincided with marked weakness in the nearest portion of the oil futures curve, pointing to a market that's softening. China's latest measures to kick-start its economy stopped short of direct...
Gold slipped to its lowest level in more than seven weeks, as the dollar continued to strengthen following Donald Trump's election victory last week. Bullion fell as much as 1.1% — after sliding 2.5% in the previous session — as a gauge of the dollar rose to its highest level in a year. The gains, which make commodities priced in the currency more expensive for most buyers, are linked to Trump's pledges to cut taxes and impose trade tariffs. The precious metal has declined about 5.5% since last week's election, as hedge funds unwound bullish wagers and...
The USD/CHF pair attracted some buyers around 0.8810 during the early European session on Tuesday. A broadly stronger US Dollar (USD) extended some support to the pair. Federal Reserve (Fed) officials Christopher Waller, Thomas Barkin, Neel Kashkari, and Patrick Harker are due to speak later in the day. The US Consumer Price Index (CPI), and Producer Price Index (PPI) will be in the spotlight on Wednesday. Trump's proposed policies including tax cuts, trade tariffs, and deficit spending could trigger a fresh wave of inflation and could force the US Fed to slow down the pace of interest rate...
Gold (XAU/USD) prices, after posting their sharpest weekly decline in over five months, fell over 2% on Monday and fell to the lowest level since October 10 amid strong US Dollar (USD) buying. Traders are anticipating a cautious approach from the Federal Reserve (Fed) amid hopes that US President-elect Donald Trump's policies will boost economic growth and inflation. This, in turn, remained supportive of a pickup in the US Treasury bond yields, which pushed the USD to its highest in over four months and weighed heavily on the non-yielding yellow metal. The downward trajectory, however,...
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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