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) tumbles to the $2,660s on Wednesday due to the US Dollar (USD) strengthening after Republican nominee Donald Trump was named the winner of the US presidential election. Trump won with 277 electoral college votes over Vice President Kamala Harris' 224, according to the Associated Press. USD is gaining due to the market view that Trump's economic agenda and tariffs will strengthen the US Dollar. This, in turn, is negative for Gold since it is mainly priced and traded in USD. Gold is also losing ground due to capital rotating out of Gold and other safe-havens into riskier...
The US Dollar (USD) rose sharply on Wednesday after former US President Donald Trump secured enough electoral votes to become the next US president. The former US President secured 277 votes, more than enough to surpass the magic 270 threshold needed to secure a majority. An additional element that may lead to more US Dollar strength is the fact that Republicans have secured a majority in the Senate. While the race for control of the US House of Representatives is still undecided, it seems that Trump will not be a powerless president and will have the support of both houses when it comes to...
Gold (XAU/USD) plunged below $2,700 on Wednesday as the US Dollar (USD) strengthened after Republican presidential nominee Donald Trump was declared the winner of the US presidential election. Trump won with 277 electoral votes over Vice President Kamala Harris' 224, according to the Associated Press. The USD strengthened on the market's view that Trump's economic and tariff agenda would strengthen the US Dollar. This, in turn, was negative for Gold as it is mostly priced and traded in USD. Gold also weakened as capital rotated out of Gold and other safe-haven assets into riskier assets...
The USD/JPY pair refreshes a four-month high near 154.40 in European trading hours on Wednesday. The asset strengthens as the US Dollar (USD) outperforms its rival currencies with the victory of Republican candidate Donald Trump in sight. The US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, climbs above 105.00. According to the Associated Press, Donald Trump has already won three out of seven major battleground states of North Carolina, Pennsylvania, and Georgia and leading over Democratic rival Kamala Harris in the rest. Market experts see Trump's...
Silver (XAG/USD) price depreciated near $32.20 during the European session on Wednesday. The daily chart analysis suggests a potential shift in momentum from bullish to bearish, as the nine-day Exponential Moving Average (EMA) is aligning with the 14-day EMA. A downside crossover here would signal weakening near-term momentum. Furthermore, the 14-day Relative Strength Index (RSI) is consolidating just below the 50 level, indicating an ongoing bearish bias. However, traders would want to see further moves to get a clear trend direction for the XAG/USD pair. Furthermore, the Moving Average...
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.
In...