The US dollar index remained stable around 103.5 on Thursday after gaining ground in the previous session, as investors weighed the impact of an escalating global trade war on the economy and consumers. In the latest developments, President Trump vowed to impose additional tariffs, following retaliatory measures from the EU and Canada in response to his steel and aluminum duties. Trump also reiterated warnings of reciprocal tariffs set to take effect next month, fueling further uncertainty in global markets. Meanwhile, US consumer inflation data released on Wednesday came in softer than...
Silver price (XAG/USD) continues its upward momentum for the third consecutive session, hovering around $33.30 per troy ounce during Asian trading hours on Thursday. The precious metal benefits from growing safe-haven demand amid escalating trade tensions and mounting concerns over a potential United States (US) recession. Trade tensions intensified after US President Donald Trump imposed higher tariffs on steel and aluminum imports, heightening economic uncertainty and boosting Silver's appeal as a safe-haven asset. Trump also described the economy as being in a "transition period,"...
Oil prices slipped on Thursday after a surge in the previous session on a larger-than-expected draw in U.S. gasoline stocks, as markets weighed macroeconomic concerns against firm near-term demand. Brent futures fell 5 cents to $70.9 a barrel by 0426 GMT, while U.S. West Texas Intermediate crude futures shed 10 cents to $67.58 a barrel. Both benchmarks rallied about 2% on Wednesday as U.S. government data showed tighter-than-expected oil and fuel inventories. U.S. gasoline inventories fell by 5.7 million barrels, more than the 1.9 million-barrel draw expected by analysts, while distillate...
Gold prices rose in Asian trading on Thursday as soft inflation print in the U.S. supported interest rate cut bets, while President Donald Trump's fresh tariff threats kept bullion's safe-haven appeal intact. Spot Gold rose 0.4% to $2,945.18 per ounce, while Gold Futures expiring in April gained 0.2% to $2,953.62 an ounce by 00:56 ET (04:56 GMT). Gold rises as cooling inflation data backs rate-cut bets The U.S. Consumer Price Index (CPI) increased by 0.2% in February, leading to an annual rise of 2.8%, slightly below the anticipated 2.9% and down from January's 3.0% gain. This moderation...
Oil steadied after the biggest gain in two weeks that was driven by easing US inflation and bullish demand data. Brent crude traded near $71 a barrel after jumping 2% on Wednesday, with West Texas Intermediate below $68. US consumer prices rose at the slowest pace in four months in February, official data showed, although economists anticipate that an escalating trade war will drive up prices on goods like food and clothing in the coming months. "Crude oil prices have been a beneficiary of the risk-on sentiment across markets," said Charu Chanana, chief investment...