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...
Silver price slides over 2% to near $35.85 during European trading hours on Friday. The white metal faces a sharp selling pressure due to improvement in trade relations between the United States (US) and China and no signs of Israel-Iran truce violation. During the European trading session, a spokesperson from the Chinese Ministry of Commerce confirmed that Beijing has agreed to expedite exports to rare earths to the US, while Washington will revoke non-tariff barriers. On Thursday, US Commerce Secretary Howard Lutnick also confirmed that China is going to "deliver rare earths to us" and...
Gold fell more than 1% to its lowest level in nearly a month on Friday due to easing geopolitical and trade tensions and as investors awaited U.S. inflation data for clues on the future trajectory of interest rates. Spot gold lost 1.3% to $3,283.56 per ounce by 0839 GMT, its lowest since late May. Prices have fallen by over 2% this week and more than $200 from a record high scaled in April. U.S. gold futures fell 1.6% to $3,295.70. The Iran-Israel ceasefire, brokered earlier this week by U.S. President Donald Trump, is holding for now. A White House official said on Thursday that the...
The U.S. dollar edged marginally higher Friday ahead of the release of key inflation data, but remained close to multi-year lows, on course for hefty weekly losses on expectations of lower interest rates and reduced geopolitical and trade tensions. At 04:45 ET (08:45 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, rose marginally to 96.770, remaining close to its lowest level since March 2022, on track for a 1.5% decline in June, its sixth straight month in the red. Dollar has further downside Signs of stabilization in the Middle East, with the...
The Pound Sterling (GBP) holds onto gains near a fresh three-year high around 1.3770 against the US Dollar (USD) during European trading hours on Friday. The GBP/USD pair clings to gains as the US Dollar struggles to gain ground due to a sharp deterioration in its safe-haven demand, following tensions between United States (US) President Donald Trump and Federal Reserve (Fed) Chair Jerome Powell over the monetary policy status. At the time of writing, the US Dollar Index (DXY), which tracks the Greenback's value against six major currencies, struggles to hold the fresh three-and-a-half-year...
Oil prices headed for their steepest weekly decline since March 2023 on Friday, as the absence of significant supply disruption from the Iran-Israel conflict saw any risk premium evaporate. Brent crude futures rose 36 cents, or 0.53%, to $68.09 a barrel by 0637 GMT while U.S. West Texas Intermediate crude gained 33 cents, or 0.51%, to $65.57. That put both contracts on course for a weekly fall of about 12%. The benchmarks are now back at the levels they were at before Israel began the conflict by firing missiles at Iranian military and nuclear targets on June 13. This week began with...
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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