Asian stock markets opened higher on Thursday morning (October 16th), following a positive close on Wall Street despite volatile trading. Stocks in Japan, Australia, and South Korea rose, while index futures pointed to a weaker opening in Hong Kong. In the US, the S&P 500 index rose 1.2%, then fell, and finally closed up 0.4%. Renewed tensions between the United States and China have again affected market sentiment. US President Donald Trump stated that his country is now "locked in a trade war" with China. However, US Treasury Secretary Scott Bessent suggested a longer pause on import...
Gold price retreated during the North American session on Thursday after hitting a record high of $4,058, plunges below $4,000 as the Greenback posts solid gains.. XAU/USD trades at $3,978, down 1.5%. Safe haven demand eases amid Israel–Hamas ceasefire hopesThe Gold market mood turned negative on Thursday. Bullion prices fell as traders booked profits, sending prices toward a daily low of $3,944 as China's traders got back from holidays. Upbeat news regarding a permanent ceasefire between Israel and Hamas added to relief sentiment by market players. Despite this, the ongoing Russia-Ukraine...
Gold moved down from a record high early Thursday as traders take profits while the dollar rose to a two-month high. Spot Gold was last seen down 0,72% to $4,010.40 per ounce. The price of the precious metal has climbed 21% since Aug. 18 when it began to rise as U.S. President Donald Trump threatened the independence of the Federal Reserve, while the central bank signaled it was ready to begin lowering interest rates as the U.S. labor market weakened. Strong demand from central banks and exchange-traded funds have also offer support for the metal's record run. "Strong ETF inflows,...
The dollar weakened on Thursday (October 9th), for the first time this week; most G-10 currencies weakened on the day, with the Australian and Canadian dollars outperforming the rest. The Bloomberg Dollar Spot Index fell less than 0.1% USD/JPY rose for a sixth day to 152.79, the longest winning streak since December EUR/USD fell for a fourth straight day to 1.1611 GBP/USD fell for a third day to 1.3382 USD/CAD fell less than 0.1% to 1.3946, its first decline in three days The government shutdown delayed Thursday's release of US data covering initial and continuing jobless claims as...
Spot silver prices surged to their highest level in decades as surging demand for safe-haven assets exacerbated supply constraints in the London bullion market. The precious metal surged 2.3% past $50 an ounce on Thursday, its highest level since the Hunt Brothers' squeeze in the 1980s. Silver continued a surge that has lifted prices more than 70% this year, outpacing gold's record-breaking rally. This is part of a growing search for safe-haven assets fueled by concerns about fiscal risks in the US, an overheated equity market, and threats to the independence of the Federal...
Oil prices were little changed on Thursday (October 9) as investors weighed a ceasefire agreement in Gaza that could ease tensions in the Middle East against stalled peace talks in Ukraine that could extend sanctions on Russia and limit its exports. Brent crude futures fell 12 cents to $66.13 a barrel at 09:43 GMT. U.S. West Texas Intermediate crude fell 14 cents to $62.41. Egypt's government-affiliated Qahera TV reported that the ceasefire agreement between Israel and Hamas had officially taken effect just after midday in the region (09:00 GMT), when the rivals signed it in the Egyptian...