Gold edges higher in the early Asian session amid geopolitical tensions that typically enhance the safe-haven appeal of the precious metal. The U.S. is moving to scale down its presence in parts of Middle East to essential personnel, State Department and Pentagon said Wednesday, as tensions in the region rise. The tensions come before the sixth round of nuclear talks between the U.S. and Iran scheduled this weekend in Oman. Ongoing hostilities in the Middle East continue to weigh on investor confidence, says Bas Kooijman, CEO and Asset Manager of DHF Capital, in an email. Spot gold is 0.2%...
Oil rises in early Asian trade amid Middle East tensions that could lead to supply disruptions. The U.S. is moving to reduce its presence in parts of Middle East to essential personnel, State Department and Pentagon said Wednesday, as tensions in the region increase. Also, data released overnight by U.S. EIA showed commercial crude-oil stocks excluding Strategic Petroleum Reserve fell by 3.6 million barrels in the week ended June 6. Analysts surveyed by The Wall Street Journal had forecast a 1.6 million-barrel decline in crude stockpiles. Front-month WTI crude oil futures are 0.4% higher...
The dollar slid on Thursday on further signs that U.S. President Donald Trump may adopt a softer stance in tariff negotiations and heightened expectations of Federal Reserve rate cuts. Trump said on Wednesday he would be willing to extend a July 8 deadline for completing trade talks with countries before higher U.S. tariffs are imposed. U.S. Treasury Secretary Scott Bessent suggested earlier that the Trump administration may offer extensions from a July trade deal deadline for countries negotiating in good faith. The remarks renewed dollar weakness, lifting the euro to a seven-week high....
Gold prices rose on Thursday, bolstered by rising tensions in the Middle East and a weaker dollar, while softer-than-expected U.S. inflation data boosted expectations of Federal Reserve rate cuts. Spot gold was up 0.6% at $3,372.46 an ounce, as of 0202 GMT. U.S. gold futures gained 1.5% to $3,393. The U.S. dollar index (.DXY), opens new tab fell to a near two-month low, making greenback-priced bullion more attractive to overseas buyers. The weakness in the dollar index serves as a strong catalyst, said Kelvin Wong, a senior market analyst, Asia Pacific at OANDA, adding that gold faced...
The Australian dollar depreciated past $0.649 on Thursday, extending its decline from the previous session as risk sentiment soured amid fresh tariff threats from US President Donald Trump. On Wednesday, he announced plans to dispatch official letters to major trading partners within the next one to two weeks, outlining unilateral tariffs aimed at compelling countries to negotiate trade deals. Adding pressure on the Aussie dollar were rising expectations of further interest rate cuts by the Reserve Bank of Australia. Markets price in an 80% chance of a 25 bps cut to 3.60% at the July 8...