US stocks rebounded from early losses to close mostly higher on Friday amid hopes that Congress members were making progress toward ending the government shutdown. The S&P 500 and the Dow Jones closed 0.3% higher, while the tech-heavy Nasdaq closed near the flatline as AI giants remained under pressure. Senate Republicans rejected Democrats' offer to scale down shutdown demands, but lingering hopes of an incoming agreement improved risk sentiment before the closing bell. The suspension of operations and government data were evidenced by the deteriorating consumer confidence measured by...
Gold eased on Monday as the dollar held firm, while market participants remained cautious, watching out for any potential Iranian retaliation to U.S. strikes on its nuclear sites. Spot gold was down 0.1% at $3,365.29 an ounc. U.S. gold futures fell 0.1% to $3,381.30. The dollar rose 0.6% against its peers, making gold more expensive for foreign buyers. Higher energy prices could potentially delay a Fed rate cut and strengthen the dollar, said Ole Hansen, head of commodity strategy at Saxo Bank. "Continued and multiple geopolitical uncertainties will likely continue to underpin and...
Silver prices are showing increasingly solid fundamentals in mid-2025, driven by a supply deficit, surging industrial demand, and investor interest in safe haven assets. This combination makes silver one of the precious metals with the most promising growth prospects this year. This year is the fifth consecutive year of a global silver supply deficit, with a projected shortfall of 117–149 million ounces. Although mining production has increased slightly, its growth has not been able to keep up with the high surge in demand. Silver is a key component in clean technology and future energy....
Brent crude futures are little changed near $77 a barrel having erased kneejerk opening gains seen after the US launched a series of weekend strikes on key Iranian nuclear sites. US equity futures have also recovered from their opening fall with S&P 500 contracts now up 0.2%. The Stoxx 600 falls 0.2% but again is off its worst levels. Construction, technology and energy stocks outperform in Europe. Chemicals and industrials lag. The Bloomberg Dollar Spot Index extends its climb to 0.5%. The Japanese yen and kiwi dollar are the weakest of the G-10 currencies,...
The U.S. dollar firmed on Monday as nervy investors sought safety, although the restrained moves suggest markets were waiting for Iran's response to U.S. attacks on its nuclear sites that have exacerbated conflict in the Middle East. Iran said on Monday that the U.S. attack on its nuclear sites expanded the range of legitimate targets for its armed forces and called U.S. President Donald Trump a "gambler" for joining Israel's military campaign against the Islamic Republic. The major moves were in the oil market, with crude prices hitting a five-month high, before dipping to trade lower on...
Gold price (XAU/USD) retains its negative bias through the first half of the European session on Monday and currently trades near the lower end of its daily range. The US attack on Iran's nuclear facilities on Sunday raises the risk of a broader conflict in the Middle East and benefits the US Dollar's (USD) status as the global reserve currency. Moreover, the Federal Reserve's (Fed) hawkish signal further underpins the Greenback and contributes to driving flows away from the non-yielding yellow metal. Meanwhile, the risk of a further escalation of geopolitical tensions in the Middle East...