Silver price (XAG/USD) drifts higher to around $32.70 during the Asian trading hours on Monday. The weakening of the US Dollar (USD) provides some support to the USD-denominated commodity price. Furthermore, the uncertainty and concerns over US President Donald Trump's tariff plans might boost the safe-have flows, which contribute to Silver's upside. Silver prices rose recovering some of the losses from the previous session as the dollar came under pressure due to a deteriorating economic outlook in the US and a stronger euro. Ongoing trade and geopolitical uncertainties continued to fuel...
Gold prices moved in a flat-to-low range on Monday, remaining close to recent peaks as safe haven demand was boosted by increasing uncertainty over a U.S. economic slowdown and trade tariffs. The yellow metal clocked a series of record highs last week, benefiting from sustained haven buying after U.S. President Donald Trump threatened more trade tariffs. Concerns over a U.S. economic slowdown also fueled gold demand, especially following weak purchasing managers index and consumer sentiment readings on Friday. A drop in the dollar- on bets that a softer economy will spur more interest...
Oil prices extended last week's losses on Monday as investors awaited clarity on talks to end the war in Ukraine and weighed up the prospect of a resumption in crude exports from northern Iraq. Brent futures were down 14 cents, or 0.2%, at $74.29 barrel by 0843 GMT, while U.S. West Texas Intermediate crude futures lost 21 cents, or 0.3%, to $70.19. Both Brent and WTI dropped by more than $2 on Friday, registering weekly declines of 0.4% and 0.5% respectively. All eyes remain on efforts to end Russia's war on Ukraine, which enters its fourth year on Monday. Officials said on Sunday that...
EUR/USD gives up most of its intraday gains after revisiting the one-month high near 1.0530 in Monday's European session. The major currency pair surrenders significant gains as the Euro (EUR) weakens in the aftermath of the German federal election, with the absence of a clear majority by a single party that would hinder growth in the already fractured economy. Christian Democratic Union of Germany (CDU) leader Friedrich Merz is set to become the German Chancellor after getting majority votes but is expected to face a slew of difficulties, including complicated negotiations to form a...
Gold prices edged up on Monday to trade near its record peak, helped by a weaker U.S. dollar, while investors looked ahead to a key inflation report due later this week to gauge the Federal Reserve's interest rate trajectory. Spot gold rose 0.3% to $2,943.50 an ounce as of 0957 GMT after scaling an all-time high of $2,954.69 last week. U.S. gold futures added 0.2% to $2,958.20. "The dollar's move lower this month has enabled spot gold to be kept around its record highs, supported by a surge of inflows into bullion-backed exchange traded funds," said Han Tan, Exinity Group chief market...