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 (XAU/USD) bounced back to $2,670 on Thursday after dropping 3% the previous day as President-elect Donald Trump secured victory in the US presidential election. Gold drops 3.0% as Donald Trump wins election Gold's sharp decline on Wednesday was partly a result of the strengthening US Dollar (USD) due to Trump's dollar-positive economic agenda and preference for pro-tariff protectionism. Since Gold is mostly priced and traded in USD, a stronger Dollar has a direct negative impact on its price. Source: FXStree
Gold steadied after plunging more than 3% in the previous session, with markets weighing the outlook for the US and global economy following Donald Trump's decisive White House victory. Bullion traded near $2,660 an ounce following its biggest one-day fall in five months. That decline was sparked by the dollar surging to a one-year high as Trump won back the presidency in a stunning comeback, which prompted some traders to book profits as fears over a contested result eased. A stronger dollar makes the precious metal more expensive for most buyers. "The move in the US dollar and...
EUR/USD rebounds to near 1.0770 in European trading hours on Thursday. The major currency pair bounces back after posting a more than four-month low below 1.0700 on Wednesday. The recovery comes as the US Dollar (USD) corrects ahead of the Federal Reserve's (Fed) interest rate decision, which will be published at 19:00 GMT. On Wednesday, the USD Index surged more than 1.6% – the highest single-day gain in almost four years – as United States (US) citizens chose Republican Donald Trump in the presidential elections over Democratic candidate Kamala Harris. The reasoning behind the US Dollar's...
Silver (XAG/USD) remained on the back foot through the first half of the European session on Thursday, albeit managed to hold above the $31.00 mark. However, the technical setup seems to be tilted in favor of bearish traders and suggests that the path of least resistance for the white metal remains on the downside. The overnight decline and subsequent weakness below the 50-day Simple Moving Average (SMA) confirmed a short-term rising trend-channel breakout. Further, oscillators on the daily chart have been gaining negative traction and add credence to the near-term negative outlook for...
Gold price (XAU/USD) faced challenges as the dollar-denominated precious metals struggled due to a stronger US Dollar (USD) following the victory of former President Donald Trump in the US election. Gold prices are under pressure as safe-haven flows decline amid market optimism and "Trump trades." This shift is driven by the clarity of a presidential victory, while the market had previously been anticipating a contested outcome. US Federal Reserve's (Fed) policy decision will be eyed on Thursday. Markets expect a modest 25 basis point rate cut this week. This could provide support 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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