Gold prices have the potential to gain support this morning following news of US President Donald Trump's removal of Federal Reserve Governor Lisa Cook. This action raises uncertainty regarding the direction of the Fed's monetary policy, as Trump's move is seen as an attempt to expand his influence over the central bank. Political uncertainty and the risk of intervention in the Fed's independence typically drive investors to seek safe-haven assets, including gold, to cushion price declines or even drive gains in early trading.
Furthermore, market expectations for a Fed interest rate cut remain high following Fed Chairman Jerome Powell's dovish comments last week. With the combination of political uncertainty and the potential for a rate cut, the US dollar has the potential to weaken, supporting USD-denominated gold prices.
Silver prices (XAG/USD) strengthened, approaching their highest level since 2011. From a macro perspective, the rise was driven by strong expectations that the Fed will cut interest rates this month a...
Oil prices rose about 1% on Monday (September 1st) as a weaker dollar and Russia-Ukraine tensions threatened supply, with Brent at $67.96 and WTI at $64.66. Despite the gains, the market remains cloud...
Brent oil prices fell slightly to around US$67.36 per barrel in trading on Monday (September 1), as pressure from surging global production offset the impact of supply disruptions caused by the Russia...
Silver prices are currently declining on Friday (August 29th), as investors show caution ahead of the release of important inflation data from the United States. Pressure on silver also comes from the...
Gold traded around $3,410 per ounce on Friday (August 29th), nearing its highest level in more than a month and eyeing a second weekly gain. Support came from a weakening US dollar and demand for safe...
Global benchmark Brent crude oil settled 1% higher on Monday, as concerns mounted that intensifying airstrikes in Russia and Ukraine could lead to supply disruptions, and as a weaker dollar lent additional support. Brent crude futures settled up...
Silver (XAG/USD) kicks off the week on a strong footing, with spot prices extending their rally for a fifth consecutive session, breaking above the $40.00 mark to hit fresh 14-year highs — levels last seen in September 2011. At the time of writing,...
European shares finished marginally higher on Monday, supported by defence stocks, while Novo Nordisk gained after data showed its weight-loss drug Wegovy delivers stronger heart-protective benefits than Eli Lilly's rival therapies. The...
A U.S. appeals court ruled on Friday that most of President Donald Trump's global tariffs were illegal, finding he exceeded his authority when...
Indonesia's central bank will remain active in the foreign exchange market to stabilise the rupiah, it said on Friday, while the stock exchange...
European bourses opened September in positive territory, with both the STOXX 50 and STOXX 600 rising nearly 0.3% after modest gains in August....
Asia-Pacific markets traded mixed Monday as investors assess China's RatingDog manufacturing data for August. The metric - which was previously...