The Gold Price (XAU/USD) drifts higher to near $3,350 during the early Asian session on Monday after facing some profit-taking due to the long weekend. Uncertainty about US President Donald Trump's tariff policies and persistent geopolitical tensions continue to underpin the precious metal. Investors have rushed to safe-haven assets like Gold due to rising uncertainty about tariffs and their impact on the economy, resulting in a more than 25% increase in the yellow metal prices since January. "The case for adding gold allocations has become more compelling than ever in this environment of...
Oil prices fell about 1% on Monday after nuclear talks between the United States and Iran progressed, reducing the concerns that the dispute will reduce supply from the major Middle Eastern producer. Brent crude futures slipped 70 cents, or 1.03%, to $67.26 a barrel at 0030 GMT after closing up 3.2% on Thursday. U.S. West Texas Intermediate crude was at $64 a barrel, down 68 cents, 1.05%, after settling up 3.54% in the previous session. Thursday was the last settlement day last week because of the Good Friday holiday. The U.S. and Iran agreed on Saturday to begin drawing up a framework for...
EUR/USD pair breaks out through a multi-day-old trading range and touches a fresh high since February 2022, around the 1.1485 area during the Asian session on Monday. The momentum is sponsored by the bearish sentiment surrounding the US Dollar (USD), which supports prospects for an extension of the recent well-established uptrend. Despite hawkish comments from Federal Reserve (Fed) Chair Jerome Powell, the uncertainty over US President Donald Trump's trade policies continues to undermine the Greenback. Powell said last Wednesday that the Fed is likely to keep its benchmark interest rate...
The US dollar index fell to around 98.6 on Monday, marking a fresh three-year low, as growing concerns over the Federal Reserve's independence weighed on sentiment. The drop followed President Donald Trump's renewed threats to dismiss Fed Chair Jerome Powell, stating last week that Powell's removal "cannot come fast enough" while pressuring the central bank to cut interest rates. The remarks added to market unease surrounding escalating trade tensions and policy uncertainty under the Trump administration. Over the weekend, Chicago Fed President Austan Goolsbee warned that tariffs could cause...
Gold price drifts higher to a fresh record high near $3,375 in the Asian session on Monday after facing some profit-taking due to the long weekend. Uncertainty about US President Donald Trump's tariff policies and persistent geopolitical tensions continue to underpin the precious metal. Gold price retreated further from its record high on Thursday, trading as low as $3,284.10 early in the American session. The US Dollar (USD) maintained its bearish bias against all major rivals throughout the day, with XAU/USD easing on the back of profit-taking. The pair, however, bounced from the mentioned...