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 price (XAU/USD) maintains its bid tone through the first half of the European session on Friday, though it remains below a one-week high touched the previous day. The US Dollar (USD) struggles to capitalize on the upbeat US NFP-inspired rally on Thursday amid concerns that US President Donald Trump's 'One Big Beautiful Bill' would worsen the country's fiscal situation. This, along with persistent trade-related uncertainties, turns out to be a key factor underpinning demand for the safe-haven precious metal. Meanwhile, traders dialled back expectations that the Federal Reserve (Fed)...
Silver prices held firm above $36.80 per ounce on Friday, approaching 13-year highs as renewed global trade tensions bolstered demand for safe-haven assets. Investors remained on edge after President Donald Trump announced plans to begin sending letters outlining new trade tariffs or potential deadline extensions as early as Friday, fueling uncertainty in global markets. Adding to market anxiety, the US House of Representatives passed Trump's sweeping tax cuts and spending bill, which now heads to the White House for his signature. The legislation is expected to widen the federal budget...
Markets stay relatively quiet early Friday and the US Dollar (USD) Index retreats after posting gains for two consecutive days. May Producer Price Index (PPI) for the Eurozone will be the only data featured in the European economic calendar. Financial markets in the US will remain closed in observance of the July 4 holiday, paving the way for subdued action heading into the weekend. The data published by the US Bureau of Labor Statistics showed on Thursday that Nonfarm Payrolls (NFP) in the US rose by 147,000 in June. This reading came in better than the market expectation for an increase...
Gold edged up to around $3,330 per ounce on Friday, heading for a weekly advance as concerns over the US fiscal deficit and lingering tariff uncertainty boosted the metal's safe-haven appeal. On Thursday, the House approved President Donald Trump's massive package of tax and spending cuts, which is expected to add more than $3 trillion to the country's deficit over the next decade. Meanwhile, Trump said he would begin sending letters to countries on Friday specifying what tariff rates they will face on imports to the US—a clear shift from earlier pledges to negotiate individual...
Gold edges higher in the early Asian session amid U.S. fiscal-deficit concerns that typically enhance the safe-haven appeal of the precious metal. The House of Representatives narrowly passed President Trump's "big, beautiful" tax and spending megabill on Thursday. "After factoring in the additional revenues from new tariffs, it appears that the budget deficit will remain close to 6% of GDP for the next few years," Capital Economics' Paul Ashworth says in a commentary. "The Federal debt is undoubtedly on an unsustainable path," the chief North America economist adds. Spot gold is 0.2%...
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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