Gold prices fell on Monday from a record high hit earlier in the session as trade tensions eased after U.S. President Donald Trump exempted smartphones and computers from "reciprocal" U.S. tariffs. Spot gold was down 0.1% at $3,232.45 an ounce, as of 0329 GMT. Bullion hit a record high of $3,245.42 earlier in the day. U.S. gold futures edged up 0.1% to $3,248.20. "A weaker U.S. dollar has helped gold prices, but news of the tech tariff exemptions has boosted risk appetite and caused safe-haven demand to decline. This has left gold price directionless," said KCM Trade chief market analyst...
Oil prices edged lower in Asian trade on Monday as traders digested mixed signals on U.S. tariffs and the trade conflict with China, although weaker demand forecasts and lower prices continued to weigh. Oil prices were trading near a four-year low hit last week, as concerns over weak demand and trade-related disruptions hit commodity markets. The prospect of increased economic pressure on top oil importer China also weighed on prices, as Beijing engages in a bitter trade war with the United States. Brent crude for June delivery fell 0.3% to $64.56 a barrel, while West Texas Intermediate...
Silver (XAG/USD) attracted some sellers at the start of a new week and fell back below the $32.00 round figure during the Asian session on Monday (4/14). The white metal, for now, seems to have snapped its three-day winning streak to over one-week highs touched on Friday, although the technical setup supports prospects for some dip-buying at lower levels. Last week's breakout through the 50% Fibonacci retracement level of the recent slump from the March swing high to fresh YTD lows touched last week was seen as a key trigger for bullish traders. However, the subsequent move higher struggled...
The USD/CHF pair moved higher in early Asian trading on Monday (4/14), holding around the 0.8170 level after posting losses in the last two consecutive sessions. Market participants are eyeing the release of Swiss Producer and Import Prices for March, due later today. However, the USD/CHF pair's gains may be restrained as the Swiss Franc (CHF) continues to receive support from safe-haven demand amid escalating trade tensions between the United States and China. The renewed friction has rekindled fears of a global recession, prompting investors to move away from US assets. Late last week, a...
As U.S. President Donald Trump escalates his tariff war on the world, gold has been rallying alongside it to a series of record highs. The precious metal hit a new peak of $3,245.28 an ounce on April 11 and has gained 28% since bottoming out at $2,536.71 on Nov. 14, shortly after Trump's victory that returned him to the White House to begin his second term in January. In some ways, gold is doing what it's supposed to do. It's offering investors a safe haven from the chaos that has engulfed many financial markets since Trump's ill-fated "Liberation Day" tariff announcement on April 2. The...