The Nikkei 225 Index rose 1.27% to close at 48,278 while the broader Topix Index added 0.62% to 3,203 on Thursday, extending gains from the previous session as investors navigated political uncertainty in Japan, while a strong earnings season kept the momentum in stocks. The ruling Liberal Democratic Party proposed holding a vote for a new prime minister on Oct. 21, though opposition parties have yet to agree on the date, keeping the outlook for LDP's Sanae Takaichi unclear. Sentiment was also lifted by a solid start to the earnings season, bolstered by expectations of US rate cuts and...
Gold prices fell to nearly a two-month low on Tuesday in the face of a stronger dollar, optimism about economic growth under a second Trump administration, and a broader market pivot following the Nov. 5 U.S. presidential election. Spot gold was down 0.7% at $2,600.93 per ounce by 2:23 p.m. EST (1923 GMT), after dropping 1% to hit its lowest level since Sept. 20 at $2,589.59 earlier in the session. U.S. gold futures settled 0.4% lower at $2,606.30. The dollar index's (.DXY), rise to more than four-month high increased the cost of bullion for holders of other currencies, while bitcoin...
The Euro dropped below $1.06, the lowest since October 2023, pressured by a strong dollar following Donald Trump's US election victory. Investors are worried about potential trade tariffs Trump suggested, which could hurt European exports. Reports about Trump's possible administration picks added to fears of policies that might impact Europe's economy. The Euro is also under pressure due to political uncertainty in Germany, set to hold snap elections on Feb. 23 after the collapse of Chancellor Olaf Scholz's governing coalition. Meanwhile, markets adjusted their expectations for European...
Gold futures slip 0.2% to $2,612 a troy ounce. U.S. dollar-denominated commodities like gold have been pressured in the wake of Donald Trump's victory in the U.S. election. Market expectations for fewer interest-rate cuts and a resurgence in inflationary pressures given Trump's planned tax and tariff laws have started to play against the precious metal, says Capital.com's Daniela Sabin Hathorn. In the short term, investor attitude toward gold has turned bearish, but gold isn't a hard sell just because the market expects fewer rate cuts, Hathorn says in a note. There is still plenty for...
Oil held close to this month's low, following steep losses in the previous two days, amid a soft demand outlook in China, a stronger US dollar and concerns the market may flip to oversupply. Brent crude edged higher near $72 a barrel, paring an earlier decline, after shedding 5% over two sessions, while West Texas Intermediate traded below $69. The recent tumble has coincided with marked weakness in the nearest portion of the oil futures curve, pointing to a market that's softening. China's latest measures to kick-start its economy stopped short of direct...
Gold slipped to its lowest level in more than seven weeks, as the dollar continued to strengthen following Donald Trump's election victory last week. Bullion fell as much as 1.1% — after sliding 2.5% in the previous session — as a gauge of the dollar rose to its highest level in a year. The gains, which make commodities priced in the currency more expensive for most buyers, are linked to Trump's pledges to cut taxes and impose trade tariffs. The precious metal has declined about 5.5% since last week's election, as hedge funds unwound bullish wagers and...