Gold (XAU/USD) traded higher on Friday (04/07) as news of US President Donald Trump's "Big, Beautiful" bill made its way into the market. With markets closed in the US for Independence Day, XAU/USD was trading above $3,330 at the time of writing. Liquidity is expected to remain light in the US following the holiday weekend, which could make bullion sensitive to developments that could affect risk sentiment. Risk appetite improved this week, following reports that the US was making progress in trade talks ahead of a July 9 deadline. However, the mood changed slightly on Friday due to tariff...
The US dollar (USD) weakened on Friday (04/07), moving lower in holiday-thinned trading and ending two consecutive days of gains. After rising on stronger-than-expected US Nonfarm Payrolls data released on Thursday, the greenback is now paring gains, as market activity remains subdued amid the July 4 Independence Day holiday in the United States. The US Dollar Index (DXY), which measures the greenback against a basket of major currencies, traded flat during American trading hours. At the time of writing, the index was hovering near 97.00, retreating from a weekly high of 97.42 reached on...
Oil futures fell more than 1% on Friday, pressured by expectations that OPEC+ producers will decide later this week to raise output and by Iran's reaffirmation of its commitment to nuclear nonproliferation. Brent crude futures fell 70 cents, or 1.02%, to $68.10 a barrel by 10:06 a.m. ET (1406 GMT) while U.S. West Texas Intermediate crude fell 72 cents, or 1.07%, to $66.28. Trading was thin due to the U.S. Independence Day holiday. Both contracts were on track for small weekly gains, with Brent trading about 0.5% higher than Friday's close and WTI about 1.2% higher. The eight-nation OPEC+...
Gold prices continued their uptrend on Friday (04/07), poised to post gains of more than 1.50% for the week as the US Dollar weakened amid thin liquidity conditions following the US market closure to celebrate Independence Day. A minor escalation in the trade war boosted bullion prices. XAU/USD was trading at $3,333, up 0.26%. US President Donald Trump said that they would start sending letters to countries on Friday, ahead of the July 9 deadline. He announced that some of the tariffs imposed would be in the range of 10% to 70% and would take effect on August 1. Regarding this, US Treasury...
Oil futures edged lower in holiday-thinned trading on Friday, as the market awaited an OPEC+ meeting later this week and the likelihood that member nations would decide to raise output. Brent crude was down 50 cents, or 0.7%, at $68.30 a barrel while U.S. West Texas Intermediate crude was down 50 cents, or 0.75%, at $66.50 shortly before 1 p.m. EDT (1700 GMT). Trading was thin due to the U.S. Independence Day holiday. Brent crude was up about 0.8% from Friday's close and WTI crude was up about 1.5%. The eight-nation OPEC+ group is likely to raise oil output again for August at its meeting...