United States (US) President Donald Trump and Russian President Vladimir Putin concluded an initial face-to-face meeting in Alaska late Friday, with both parties delivering mutually inconclusive statements. Trump and Putin both delivered vague promises of "progress" on multiple fronts, but initial details remain light. Now, President Trump will be pivoting to hand-delivering Russia's peace proposals on Ukraine to both the Ukrainian and European Union government bodies. Key Putin highlightsMeeting has been long overdue.Ukraine situation was one of key issues.Ukraine war is a tragedy, great...
Gold rises in the early Asian session, buoyed by likely safe-haven demand after Fed Chair Powell warned overnight of economic risks. "The outlook for gold remains constructive, supported by a robust mix of macroeconomic and geopolitical factors that reinforce its intrinsic value as a store of value and diversification asset in uncertain times," Pepperstone's Quasar Elizundia says in an email. If current conditions continue, gold's medium- to long-term target is projected around $3,734/oz, the research strategist adds. Spot gold is 0.3% higher at $3,350.88/oz after earlier touching a record...
Oil rose for a second day after the U.S. pledged to reduce Iran's energy exports to zero. West Texas Intermediate traded near $63 a barrel after rising nearly 2% on Wednesday, putting futures on track for their first weekly gain this month. Brent crude settled below $66. Treasury Secretary Scott Bessent said the U.S. would apply maximum pressure to disrupt Iran's oil supply chain, as his department sanctioned a second Chinese refinery accused of handling crude from the Islamic Republic. The so-called teapot refinery sanctioned by the U.S. — Shandong Shengxing Chemical Co. Ltd. — is suspected...
Gold prices just wrapped up their biggest daily gain since April 2020, when panicked investors were hoarding the precious metal during the Covid market meltdown. Gold futures rose 3.4%, or $107.90 a troy ounce, Wednesday to settle at $3,326.60, a fresh record. Futures are up 40% over the past year, blowing past Wall Street's expectations for 2025, but it isn't just nervous investors who are gobbling up gold. Central banks, particularly those in countries with strained relationships with the U.S., have been stockpiling gold as well. This trend took off in 2022 after Russia was sanctioned...
Gold prices keep their upside impulse well in place and hit an all-time peak just below the $3,330 mark per troy ounce on Wednesday. Further gains in the precious metal come from a weaker US Dollar, unabated uncertainty surrounding United States (US) tariffs and declining US yields across the curve. Source: Fxstreet
Oil prices rose around 1% on Wednesday, as the market drew some strength from the possibility of trade talks between China and the United States and a report that Iraq will cut oil production in April Brent crude futures rose 70 cents, or 1.08%, to $65.37 a barrel by 1311 GMT while U.S. West Texas Intermediate crude was also up 70 cents, or 1.14%, at $62.03. Prices rose after a Bloomberg report quoted an anonymous source as saying that China wants more respect from the Trump administration before it will agree to talks, analysts said. The source was also quoted as saying China wanted the...