Gold prices weakened on Friday (July 25th), weighed down by a stronger US dollar and signs of progress in US-EU trade negotiations, which have reduced safe-haven demand. Spot gold fell 1% to $3,333.12 per ounce at 11:23 a.m. ET (15:23 GMT). US gold futures fell 1.2% to $3,333.70. The US dollar index rebounded from a more than two-week low, making bullion more expensive for overseas buyers, while the 10-year US Treasury yield held steady. "The Japan deal is significant, and there are hopes for a US-EU deal before the August 1st deadline. That's weakening safe-haven demand as rising risk...
Oil prices weakened on Friday due to negative economic news from the United States and China and signs of rising supply, despite optimism that a U.S. trade deal could boost global economic growth and future oil demand. Brent crude futures fell 32 cents, or 0.5%, to $68.86 a barrel at 11:02 a.m. EDT (15:02 GMT), while U.S. West Texas Intermediate (WTI) crude fell 47 cents, or 0.7%, to $65.56. This caused Brent prices to fall about 1% for the week and WTI to fall about 3%. U.S. President Donald Trump said on Friday there was a 50-50 chance, or even less, that the U.S. would reach a trade...
Gold prices weakened on Friday, weighed down by a stronger U.S. dollar and signs of progress in U.S.-EU trade negotiations, which have dampened demand for safe-haven assets. Spot gold fell 0.9% to $3,336.01 an ounce at 2:01 PM ET (18:01 GMT). U.S. gold futures closed down 1.1% at $3,335.6. The U.S. dollar index, open a new tab, rebounded from a more than two-week low, making bullion more expensive for overseas buyers. "The Japan deal is significant, and there are hopes for a U.S.-EU deal before the August 1 deadline. That's reducing safe-haven demand as rising risk appetite drives capital...
Oil prices weakened on Friday (July 25th) and closed at a three-week low as traders worried about negative economic news from the US and China and signs of increasing supply. The losses were limited by optimism that a US trade deal could boost global economic growth and future oil demand. Brent crude futures fell 74 cents, or 1.1%, to $68.44, while US West Texas Intermediate (WTI) crude fell 87 cents, or 1.3%, to $65.16. This was the lowest closing level for Brent since July 4th and WTI since June 30th. For the week, Brent fell about 1% while WTI fell about 3%. European Commission...
Gold prices (XAU/USD) attracted sellers for the fifth consecutive day and dropped to the lowest level since September 19, around the $2,559-2,558 region during the Asian session on Thursday. The US Dollar (USD) continued its post-election rally and climbed to a new peak so far this year (YTD) on hopes that US President-elect Donald Trump's policies will spur growth. This, in turn, was seen as a key factor that continued to weigh on the USD-denominated commodity. Meanwhile, investors believe that the protectionist tariffs expected from the new Trump administration could increase inflation...