Gold price (XAU/USD) is printing a stellar return on Thursday, moving around $3,120 at the time of writing. Since Tuesday morning, the precious metal has rallied nearly 5.00%. The main driver for the rally came from United States (US) President Donald Trump, who announced a 90-day pause to higher tariffs on 56 countries and the European Union, which will now be taxed at the 10% baseline rate. Trump also hiked levies on China to 125%, effective immediately, after the Asian country announced plans to retaliate with an 84% tariff on all US imports to take effect on Thursday. Those moves are...
Oil extended a volatile run as investors assessed abrupt shifts in US trade policy, with futures returning to losses following a relief rally on Wednesday. Brent fell near $64 a barrel after a choppy session that saw prices hit a four-year low before ultimately posting the biggest one-day gain since October. With markets in turmoil, President Donald Trump announced a 90-day halt on higher tariffs against dozens of nations, but he also raised duties on China to 125%. "With a lot of uncertainty still existing, the prospect for a major rebound in crude is not...
Gold prices rose more than 1% on Thursday, extending the previous session's sharp gains, as a weaker dollar and escalating trade tensions between the US and China prompted investors to turn to the safe-haven appeal of the precious metal. Spot gold rose 1.6% to $3,132.29 an ounce by 9:29 a.m. ET (1329 GMT), after rising more than 3% on Wednesday. US gold futures rose 2.3% to $3,150.20. US President Donald Trump said on Wednesday he would temporarily lower tariffs on dozens of countries, but raised tariffs on China to 125% from 104%. "Gold is regaining its appeal as a safe haven and is back...
Gold prices surged above $3,172 an ounce on Thursday, hitting a new record high, as a weaker dollar and escalating trade tensions between the U.S. and China boosted demand for the safe-haven metal. The surge followed President Trump's decision to raise tariffs on Chinese goods to 125%, up from 104%, even as he temporarily eased duties on other countries. The dollar index fell more than 1%, making gold more affordable for buyers using other currencies. Meanwhile, U.S. consumer prices unexpectedly fell in March, but inflation concerns remained high amid the new tariffs. As a result, traders...
Oil prices fell more than $2 a barrel on Thursday, erasing the last session's rally, as investors reassessed a planned pause in broad U.S. tariffs and turned their attention to the deepening trade war between Washington and Beijing. U.S. West Texas Intermediate crude fell $2.28, or 3.7%, to settle at $60.07 a barrel. Brent crude fell $2.15, or 3.3%, to settle at $63.33 a barrel. Both contracts had risen more than $2 a barrel on Wednesday after U.S. President Donald Trump halted the heavy tariffs he had announced on dozens of U.S. trading partners a week ago, marking an abrupt change of...