European stock markets appeared calm on Tuesday, following a strong rally in the previous session. Major indices such as the STOXX 50 and STOXX 600 moved flat as investors chose to wait for new direction while assessing news from various major companies. The property and utilities sectors posted positive performances, followed by banking stocks, which also gained slightly. Conversely, stocks in the chemical and food and beverage sectors weakened. L'Oréal recorded a slight decline, while UniCredit rose slightly ahead of its latest financial report. On the positive side, Assa Abloy shares...
Gold edged up in early Asian trade on Monday (12/16). Investors are focused on this week's Federal Reserve meeting, Pepperstone's Quasar Elizundia wrote in an email. While markets are expecting a 25 bps rate cut, the Fed's economic projections and the ‘dot plot' could provide more clarity on the outlook for monetary policy in 2025, Elizundia said. Gold faces a challenging medium-term outlook with its price action closely tied to expectations for monetary policy and its impact on bond yields. The ability of central banks to manage inflation will be critical in shaping gold's future...
Oil prices climbed about 2% on Friday to settle at a three-week high, on expectations that additional sanctions on Russia and Iran could tighten supplies and that lower interest rates in Europe and the U.S. could boost fuel demand. Brent futures rose $1.08, or 1.5%, to settle at $74.49 a barrel. U.S. West Texas Intermediate crude rose $1.27, or 1.8%, to settle at $71.29. That was Brent's highest close since Nov. 22 and put the contract up 5% for the week. WTI posted a 6% gain for the week and closed at its highest since Nov. 7. Source: Reuters
Gold prices fell on Friday after bullion hit a more than five-week high in the previous session and as the U.S. dollar gained, but prices were on track for a weekly rise on expectations of a Federal Reserve rate cut next week. Spot gold was down 0.8% at $2,658.89 per ounce, as the U.S. dollar hovered near its highest in more than two weeks. Bullion hit its highest since Nov. 6 on Thursday, and has risen nearly 1% so far for the week. U.S. gold futures fell 1.1% to $2,678.50. Underpinned by easing monetary policies, robust central bank buying, and safe-haven demand, gold has shattered...
Gold (XAU/USD) has given away earlier gains and is trading lower for the second consecutive day during Friday's European session. The US Dollar (USD) maintains its bullish tone, supported by rising US Treasury yields, which keeps the precious metal under pressure. Recent US data is showing a resilient US economy with inflation picking up. Donald Trump's high tariffs for imports and restricted immigration are expected to lift consumer prices, forcing the Federal Reserve (Fed) to approach cautiously with monetary easing next year. Most of the major central banks, in contrast, are expected to...
Oil prices nudged upwards on Friday, heading for their first weekly rise since the end of November, as additional sanctions on Iran and Russia ratcheted up supply worries, while a surplus outlook weighed on markets. Brent crude futures edged up 5 cents to $73.46 a barrel by 0716 GMT, while U.S. West Texas Intermediate crude was up 8 cents at $70.1 a barrel. Both contracts are on track for a weekly gain of more than 3% as concerns about supply disruption from tighter sanctions on Russia and Iran, and hopes that Chinese stimulus measures could lift demand in the world's No. 2 oil consumer...