Oil prices were little changed on Tuesday as markets weighed the impact of newly announced U.S. tariffs on countries that buy Venezuelan oil and an uncertain outlook for global demand. Brent crude futures were up 1 cent at $73.01 a barrel by 0424 GMT. U.S. West Texas Intermediate crude futures were down 1 cent at $69.10. Both benchmarks rose more than 1% on Monday after U.S. President Donald Trump announced 25% tariffs on countries that import Venezuelan oil and gas. Oil is Venezuela's main export and China, already subject to U.S. tariffs, is its biggest buyer. "Investors are concerned...
The dollar hit a three-week high against the yen on Tuesday and strengthened across the board after some strong U.S. services data and cautious optimism on the tariff front. President Donald Trump said not all of the levies he threatened would be imposed on April 2 and that some countries might get relief, helping the dollar and the mood on Wall Street overnight by easing some concerns about a possible slowdown in U.S. growth. The dollar was last up at 150.56, after rising above 150 yen overnight ?t;JPY=EBS⪐. It rose to a three-week high of 150.92 yen in early Asian trading. The lack of...
Gold prices edged higher in Asian trade on Tuesday, staying below recent record highs as concerns eased over the severity of U.S. President Donald Trump's planned trade tariffs. However, demand for the safe-haven asset remained relatively high amid uncertainty over what tariffs will be imposed by Trump's April 2 deadline. Investors are also cautious ahead of a series of key economic readings this week. Gold and other precious metals pulled back from recent peaks this week, as risk appetite improved on reports that Trump's tariffs would not be as severe as feared. However, a weaker dollar...
Silver prices stabilized above $33 per ounce on Tuesday, recovering from recent declines as trade uncertainties and broader economic concerns fueled demand for safe-haven assets. Hopes that US President Donald Trump may take a more targeted approach to tariffs ahead of the April 2 deadline provided some market relief. However, his pledge on Monday to impose levies on automobiles, pharmaceuticals, and other industries added to uncertainty. Meanwhile, expectations of further interest rate cuts from the US Federal Reserve also supported silver prices. Traders are currently pricing in two...
Gold price (XAU/USD) struggles to build on modest intraday gains, though it manages to hold above the $3,000 psychological mark through the first half of the European session on Tuesday. The global risk sentiment remains well supported by hopes for less disruptive US trade tariffs, optimism over the Russia-Ukraine peace deal, and China's stimulus measures. Furthermore, the US Dollar (USD) preserved its recent recovery gains to a near three-week high touched on Monday, which, in turn, acts as a headwind for the precious metal. However, the growing acceptance that the Federal Reserve (Fed)...