Gold prices fell more than 0.50% on Monday (5/26) amid weak demand for haven assets after US President Donald Trump delayed tariffs on the European Union (EU). Meanwhile, trading remained quiet as the UK and US financial markets were closed for a holiday. At the time of writing, XAU/USD was trading at $3,336. The market mood improved after Trump's remarks on Sunday, delaying the imposition of tariffs on EU products until July 9. Therefore, Bullion was pressured after last week's gain of more than 4.86%, the most significant increase since the week began on April 7. On Friday, XAU/USD...
Gold prices fell more than 0.50% on Monday (5/26) amid lack of demand for haven assets after United States (US) President Donald Trump delayed tariffs on the European Union (EU). Meanwhile, trading remained quiet due to the closure of the UK and US financial markets for a holiday. At the time of writing, XAU/USD was trading at $3,336. The market mood improved after Trump's statement on Sunday, delaying the imposition of tariffs on EU products until July 9. Therefore, Bullion was pressured after last week's gain of more than 4.86%, the most significant increase since the week began on April...
Oil prices were steady on Monday on news that the eight-nation OPEC+ group, which has pledged voluntary oil output cuts, will now meet on May 31, a day earlier than previously planned. Brent crude settled down four cents at $64.74 a barrel, while U.S. West Texas Intermediate crude was last trading at $61.53 a barrel, unchanged from the previous session. Trading volumes were low due to the U.S. Memorial Day holiday. Three OPEC+ sources told Reuters on Monday of the change in meeting date. The meeting is likely to decide on July output, which sources previously told Reuters would require an...
EUR/USD started the week on a positive note but pared some of its earlier gains after hitting a four-week high of 1.1420, sponsored by US President Donald Trump's reversal of his decision to impose tariffs on the European Union (EU) on June 1. At the time of writing, the major was trading at 1.1380, up 0.20%. Last week, late on Friday, Trump threatened to impose 50% tariffs on EU goods on June 1, as negotiations with the bloc were not going as expected. This triggered a rally in EUR/USD, which ended at a two-day high of 1.1375. However, a phone call between EU Commission President Ursula...
Gold continued to edge lower as demand for safe-haven assets eased, with investors weighing the prospect of improved trade relations between the US and EU. Bullion was trading near $3,347 an ounce, after falling 0.4% on Monday, after Brussels said it would speed up negotiations with Washington to avoid a trans-Atlantic trade war. Both sides have softened their approach after US President Donald Trump initially criticized the bloc for stalling talks. Demand for safe-haven assets such as bullion has been hit by signs that the White House may be making progress in negotiations with some...