Gold (XAU/USD) steadies on Tuesday, halting a four-day slide after dipping to a near three-week low around $3,300 on Monday. The slight rebound comes despite a broadly risk-on mood that has kept demand for safe-haven assets subdued. Optimism around easing geopolitical tensions ahead of the August 1 deadline and a renewed push into equities have curbed upward momentum for the metal. At the time of writing, the precious metal is trading around $3,321 during the American session, little changed on the day. Price action remains muted, with Gold oscillating in a narrow range between $3,300 and...
Gold price recovered some ground on Tuesday after falling for the fourth straight day as the Greenback trimmed some of its earlier gains, which boosted appetite for the yellow metal. A drop in US Treasury yields and a soft labor market report in the United States (US) prompted investors to buy Bullion. The XAU/USD trades at $3,330, up by 0.50% after reaching a three-week low of $3,301 on Monday and a daily low of $3,308. The US Bureau of Labor Statistics (BLS) revealed that the Job Openings and Labor Turnover Survey (JOLTS) for June missed estimates as companies seemed reluctant to hire,...
Oil prices gained more than 3% on Tuesday as President Donald Trump ramped up pressure on Russia over its war in Ukraine and on optimism that a trade war between the U.S. and its major trading partners was abating. Brent crude futures settled $2.47, or 3.53%, higher at $72.51 a barrel while U.S. West Texas Intermediate crude gained $2.50, or 3.75%, to settle at $69.21. Both contracts settled at their highest since June 20. On Tuesday, Trump said he would start imposing tariffs and other measures on Russia "10 days from today" if Moscow did not make progress toward ending the war in...
GBP/USD found some balance on Tuesday, pumping the brakes on an extended backslide but falling just short of snapping its losing streak. The Cable pair caught an intraday technical rebound near the 1.3300 handle, and FX markets are coiling ahead of the Federal Reserve's (Fed) latest interest rate decision, due on Wednesday. There remains little of note on the economic calendar for the United Kingdom (UK) side, leaving Cable traders to grapple with a hefty dose of US data releases through the remainder of the trading week. The Fed's latest interest rate decision is slated for Wednesday and...
Oil held the biggest gain in six weeks after US President Donald Trump reiterated he may impose additional economic penalties on Russia unless a truce is reached with Ukraine. West Texas Intermediate traded near $69 a barrel after closing 3.8% higher in the previous session. Brent settled above $72. Trump warned of "tariffs and stuff" if a ceasefire isn't agreed in 10 days and said he wasn't concerned about the impact on the market, suggesting the US could ramp up production. "I don't even worry about it," he told reporters aboard Air Force One on Tuesday as he returned to...