Gold prices remain bid during the North American session as breaking news revealed Iran's attack on US bases in Qatar, in retaliation for the over-the-weekend attack on Iran's nuclear installations by the White House. Meanwhile, US economic data was overlooked mainly as geopolitical tensions in the Middle East intensified. At the time of writing, XAU/USD trades at $3,385, up 0.39%. Macroeconomic data has been pushed aside as geopolitics grabs most headlines. Iran reported the launch of missiles at US bases in Qatar, Kuwait and Iraq, according to Al Arabiya, citing Israeli media. Alongside...
The dollar strengthened against European currencies on Wednesday ahead of a highly anticipated reading on U.S. inflation, also boosted by a Reuters report that China is considering allowing a weaker currency next year, which has caused the yuan and other Asian currencies to weaken The euro was last down 0.18% at $1.0508, a day before a European Central Bank meeting, and the pound fell 0.16% to $1.2752 as traders awaited U.S. CPI data, due at 1330 GMT. Economists expect headline and core consumer prices to rise 0.3% in November from previous increases of 0.2% and 0.3%,...
The Japanese Yen is pressured by renewed worries about Trump's trade tariffs.A modest USD strength provides a goodish lift to the USD/JPY pair on Monday. The divergent BoJ-Fed policy expectations should help limit deeper JPY losses. The Japanese Yen (JPY) attracts some sellers at the start of a new week as US President Donald Trump's tariff threats revive fears that Japan would also be an eventual target of new US levies. Apart from this, a modest US Dollar (USD) strength, lifts the USD/JPY pair to the 152.00 mark during the Asian session. Against the backdrop of the upbeat US jobs report...
Silver (XAG/USD) prices extended its gains for the third straight session, trading around $32.00 during Asian hours on Wednesday. The demand outlook for precious metals, including Silver, in the world's largest raw material consumer has improved following news of potential economic stimulus from China. The Politburo announced plans to adopt a "moderately loose" monetary policy and a "more proactive" approach to fiscal stimulus next year, marking a shift from the more cautious tone of the past decade. Silver prices are getting support from the increasing odds of the US Federal Reserve (Fed)...
Gold price (XAU/USD) maintains its offered tone through the first half of the European session on Wednesday, though it lacks follow-through selling as traders opt to wait for the release of the US consumer inflation figures. In the meantime, the US Dollar (USD) attracts some buyers in the wake of Federal Reserve (Fed) Chair Jerome Powell's hawkish remarks on Tuesday. This, along with a generally positive risk tone, undermines the commodity for the second straight day. However, concerns that US President Donald Trump's new levies on commodity imports and promised reciprocal tariffs, along...