European markets opened higher after news of a planned meeting between Donald Trump and Xi Jinping next week eased trade war concerns. The Stoxx Europe 600 moved positively, led by the technology sector—ASML was the leading indicator—while utilities and property lagged. In corporate news, NatWest surged after raising its full-year forecast, and Sanofi gained on demand for its flagship drug Dupixent. Sentiment was also supported by a mixed earnings season: solid results from LVMH and Kering were partly overshadowed by disappointing reports from Roche, L'Oréal, and Akzo Nobel. Investors now...
Gold prices slipped on Friday as elevated U.S. Treasury yields dimmed non-yielding bullion's allure in a holiday-thinned week, with markets focused on President-elect Donald Trump's return to office and the potential impact of his inflationary policies on the Fed's 2025 outlook. Spot gold fell 0.7% to $2,615.99 per ounce. U.S. gold futures were down 0.8% to $2,633.5. Treasury yields are a little bit higher here, and gold will remain under pressure through the end of today ... we are here in a thin holiday market," said Bob Haberkorn, senior market strategist at RJO Futures. The dollar...
Gold prices eased on Friday but were set for a weekly gain as investors gravitated towards safe-haven assets amid political uncertainty in the Middle East, overshadowing pressure from a firmer dollar. Spot gold fell 0.8% to $2,614.39 per ounce. U.S. gold futures were down 0.9% to $2,629.7. "There remain geopolitical hotspots around the globe, which is keeping gold in play from a safe haven perspective," said Tim Waterer, chief market analyst at KCM Trade. "Between Russia-Ukraine and events in Gaza, investors remain keen on gold in case either situation flares up further." In the Middle...
Oil rose 1% on Friday and was on track for a weekly gain, spurred by expectations of a stimulus-driven economic recovery in China, the world's biggest oil importer, and by forecasts of lower U.S. inventories. Analysts polled by Reuters had expected U.S. crude stocks to have declined by about 1.9 million barrels last week and market sources said the American Petroleum Institute put the decline at 3.2 million barrels. Brent crude futures were up 74 cents, or 1%, at $74 a barrel by 1404 GMT. U.S. West Texas Intermediate crude rose 80 cents, or 1.15%, from Thursday's close to $70.42. For the...
Gold prices edged lower on Friday (12/27) as the US dollar index held steady, despite continued demand for safe-haven assets amid global geopolitical tensions. Gold futures for February delivery fell 0.11%, or $3, to settle at $2,650.90 an ounce by 10:36 a.m. KSA time and was on track for a weekly loss of around 0.10%. Spot gold was steady at $2,636.08 an ounce, while silver futures for March delivery were unchanged at $30,415 an ounce. Spot platinum fell 0.14% to settle at $938.48 an ounce. The dollar index, which measures the greenback against a basket of six major currencies, was...
Silver (XAG/USD) prices fell near $29.60 in thin trading after the Christmas and Boxing Day holidays on Friday (12/27). The white metal came under pressure despite heightened tensions in the Middle East between Israel and Iran. On Thursday, Israel launched missiles at the Iran-backed Houthi military and bombed Yemini airport. Following the airstrike, Israeli Prime Minister Benjamin Netanyahu said in an interview with Israel's Houthi TV station, "We have just started with them." Israel retaliated against last week's airstrike by Iran. Historically, rising geopolitical tensions increase...