Gold (XAU/USD) is trading within a tight range on Thursday, consolidating between $3,360 and $3,400. These levels have repeatedly served as key short-term support and resistance over recent sessions. With the United States (US) observing the Juneteenth holiday, lower trading volumes have resulted in subdued price movements, although underlying risks remain pronounced. Geopolitical tensions persist as significant drivers of Gold prices. Russia has issued a stark warning against potential US military involvement in Iran, describing it as an "extremely dangerous step" with "unpredictable...
Gold price registers modest gains on Thursday as geopolitical tensions rose due to increasing rumors that the United States (US) might become involved in the Israel–Iran conflict. Nevertheless, a slightly hawkish Federal Reserve (Fed) caps the golden metal's advance. At the time of writing, XAU/USD trades at $3,373, up 0.13%. Geopolitics continued to drive Gold's price action due to reports from several US news websites like The Wall Street Journal and CBS News revealing that plans of a US attack on Iran nuclear facilities had been approved by US President Donald Trump, who is weighing his...
WTI crude oil futures pared its early session rally to trade below $75 per barrel on Thursday, only marginally below a five-month high, after President Trump's announcement that he will decide on US involvement in the Israel–Iran conflict "within two weeks" defused the immediacy of a Middle East supply shock. Earlier, renewed missile exchanges between Israel and Iran after Tel Aviv claimed to have struck nuclear targets in Iran had stoked fears of an escalation severe enough to threaten tanker traffic through the Strait of Hormuz, driving prices briefly above $77. Trump's initial "may...
Oil prices jumped almost 3% on Thursday as a week-old air war between Israel and Iran escalated and uncertainty about potential U.S. involvement kept investors on edge. Brent crude futures settled up $2.15, or 2.8%, to $78.85 a barrel, its highest close since January 22. U.S. West Texas Intermediate crude for July was up $2.06, or 2.7%, to $77.20 at 1330 EST (1730 GMT). Trading volumes were light on Thursday due to a U.S. federal holiday. Israel bombed nuclear targets in Iran on Thursday, and Iran fired missiles and drones at Israel after hitting an Israeli hospital overnight. There was...
Gold prices held steady in holiday-thinned trade as markets digested the Federal Reserve meeting results and the Middle East conflict. Israel and Iran continued to trade barbs, with Trump saying he would decide on a US strike on Iran "within two weeks." The safe-haven metal traded in a tight range amid lower volumes, but underlying risks remain real, says Tammy Da Costa at FXStreet. Geopolitical tensions remain the main upside driver for gold, although it faces pressure from renewed USD strength after the Fed update, she writes. Powell's cautious tone suggests monetary policy may remain...