The Silver price (XAG/USD) attracts some buyers to around $34.35 during the early European session on Monday. Potential trade wars and ongoing geopolitical tensions boost the safe-haven flows, benefitting the white metal. Traders are worried ahead of a new round of reciprocal levies that the White House is due to announce on Wednesday. Trump said late Sunday that the administration is hurrying to determine the specifics of its new tariff agenda ahead of its self-imposed deadline of Wednesday, considering possibilities after promising to remake the American economy with a slew of new levies....
Oil fluctuated as the market weighed Donald Trump's mixed remarks about the threat of fresh penalties on Russian crude if his counterpart Vladimir Putin refuses a ceasefire with Ukraine. Trump told reporters on Air Force One that he doesn't think Putin will "go back on his word," which appeared to take some of the edge off his criticism earlier Sunday, when NBC News reported him as saying he was "very angry" at the Russian president and would consider "secondary tariffs." Brent's June contract was little changed below $73 a barrel after a marginal gain at the open, while...
Gold prices surged above $3,100 per ounce on Monday to a record high, as worries about potential inflation due to U.S. tariffs set the safe-haven asset up for its strongest quarter since 1986. Bullion continued its remarkable rally that has already seen the metal gain around 18% so far this year. Spot gold jumped 1.1% to $3,117.43 per ounce by 0935 GMT, having hit a record $3,128.06 earlier. U.S. gold futures were up 1.1% to $3,149.60. Bullion rose more than 27% last year as several bullish factors, including a favourable monetary policy backdrop and robust central bank buying, combined...
Oil edged higher after Donald Trump suggested that the US could impose "secondary tariffs" on Russia, a top-three producer nation and major exporter to the world. On Sunday, NBC News reported Trump as saying he was "very angry" at Vladimir Putin and would consider "secondary tariffs" on Russia's oil exports. He later told told reporters on Air Force One that he didn't think the Russian president would "go back on his word," which appeared to take some of the edge off his earlier criticism. The price reaction to Trump's remarks may have been somewhat blunted by...
Gold started the week with a fresh record high, ahead of President Donald Trump's expected latest tariff barrage that's heightened concerns of a global trade war. Bullion gained as much as 1.4% to $3,127.92 an ounce, beating the previous peak from Friday when it recorded a fourth weekly gain, with prices supported by growing haven demand amid a risk-off mood for markets. Trump last week signed a proclamation to slap a 25% tariff on auto imports, while traders also bracing for the White House's so-called reciprocal tariffs due Wednesday. Gold is up almost 19% this year...