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 declined toward $3,280 per ounce on Friday, hitting its lowest level in four weeks, as fading geopolitical risks and easing fears of a prolonged trade conflict dented safe-haven demand. The US and China finalized the details of their London trade deal, which will implement the Geneva consensus. Under the agreement, China will approve export applications for controlled goods, while the US will lift various trade restrictions. This followed the White House downplaying the urgency of upcoming tariff deadlines, suggesting they could be extended and further easing trade...
Silver (XAG/USD) prices are trading lower after posting gains in the previous two sessions, trading around $36.50 per troy ounce during Asian hours on Friday (6/27). The decline in precious metals, including Silver, could be restrained by renewed concerns over the independence of the US Federal Reserve (Fed). US President Donald Trump called Federal Reserve Chairman Jerome Powell "terrible" in The Hague on the sidelines of a NATO summit and said he has several potential successors in mind. "I know of three or four people I'm going to pick." Trump could undermine Powell's authority by...
Oil prices were headed for their biggest weekly drop since March 2023 on Friday, as the absence of significant supply disruptions from the Iran-Israel conflict caused the risk premium to evaporate. Brent crude futures were up 35 cents, or 0.52%, at $68.08 a barrel by 0429 GMT while U.S. West Texas Intermediate crude was up 40 cents, or 0.61%, at $65.64. That left both contracts on track for weekly declines of about 12%. The benchmarks are now back to levels before Israel started the conflict by firing missiles at Iranian military and nuclear targets on June 13. The week began with prices...
Gold fell on Friday and headed for a second weekly loss, as a slight rise in the dollar and an Israel-Iran truce weighed on prices, with markets eyeing U.S. inflation data for clues on the Federal Reserve's interest rate trajectory. Spot gold fell 1% to $3,292.19 an ounce by 0402 GMT. Bullion has fallen 2.2% so far this week. U.S. gold futures fell 1.3% to $3,305.20. The dollar (.DXY), opens a new tab, rose 0.2% against its rivals, making dollar-priced bullion more expensive for overseas buyers. The decline this week was driven by the Israel-Iran peace deal, said Brian Lan, managing...
The US Dollar Index (DXY), a measure of the US Dollar (USD) against a basket of six major currencies, held steady near 97.25, its lowest level in three-and-a-half years during the Asian session on Wednesday (6/27). US President Donald Trump is considering picking the next Federal Reserve (Fed) Chair early, fueling fresh bets on a US interest rate cut. Trump said he has a shortlist of potential Powell successors down to "three or four people," without naming the finalists. Concerns over the Fed's future independence could weaken the US Dollar (USD) against its rivals. "For now, expectations...
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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