Silver (XAG/USD) continued its three-day uptrend, marking a new high since September 2011 and trading around $39.00 per troy ounce during the European trading session on Monday (July 14). The price of this safe-haven metal rose amidst weakening market sentiment, driven by concerns about new tariffs. US President Donald Trump announced on Saturday a 30% tariff on imports from the European Union (EU) and Mexico starting August 1. Trump also proposed a blanket tariff of 15%-20% on other trading partners, an increase from the current base rate of 10%. However, the European Union announced on...
Oil prices rose on Monday to their highest level in three weeks, as investors anticipated further US sanctions against Russia that could impact global supply, while increased oil imports by China also provided support along with signs of tighter supply. Brent crude rose 89 cents, or 1.3%, to $71.25 a barrel at 11:14 GMT, while US West Texas Intermediate crude rose 93 cents, or 1.4%, to $69.38. Increased Chinese crude imports and expectations surrounding US President Donald Trump's announcement on Russia supported prices, said UBS analyst Giovanni Staunovo. "...There remains a perception of...
Gold rose to a three-week high on Monday, boosted by safe-haven demand after U.S. President Donald Trump threatened tariffs on the European Union and Mexico, while silver hit a nearly 14-year high. Spot gold rose 0.4% to $3,369.89 an ounce, as of 11:23 GMT, after hitting its highest level since June 23 earlier in the session. U.S. gold futures rose 0.5% to $3,381.10. Trump said on Saturday that he would impose 30% tariffs on most imports from the European Union and Mexico starting August 1, adding similar warnings to other countries. The European Union and Mexico described the tariffs as...
The US dollar (USD) started the week with a positive bias, maintaining last week's gains as traders responded to the resurgence of trade tensions. However, the greenback traded slightly lower today as investors remained cautious. Late last week, US President Donald Trump again attracted attention by adding the European Union (EU) and Mexico to his growing list of tariff targets. The US Dollar Index (DXY), which measures the greenback against a basket of six major currencies, held near a two-week high. At the time of writing, the index was consolidating just below the 98.00 level, trading...
The US Dollar Index (DXY), which measures the strength of the US Dollar (USD) against a basket of major currencies, remains under pressure at the start of the week, trading below the 98.00 level on Monday. Fresh geopolitical risks have emerged after US President Donald Trump's announcement of tariff threats against the European Union (EU) and Mexico over the weekend. At the same time, reports that President Trump is pressuring Federal Reserve (Fed) Chair Jerome Powell to resign have reignited concerns about the central bank's independence, a factor that may influence investor confidence...