Gold rose after hitting a two-week low, supported by lower U.S. Treasury yields as investors awaited U.S. President Donald Trump's meeting with Ukrainian President Volodymyr Zelenskiy and European leaders to discuss a peace deal with Russia. Spot gold was up 0.3% at $3,345.64 per ounce, as of 0156 GMT on Monday, after hitting its lowest level since August 1. U.S. gold futures for December delivery rose 0.3% to $3,391.80. "Gold was on the back foot to start the day, but ... was able to reverse course with buyers stepping up to around the $3,330 level as a value play. U.S. treasury yields...
The Australian Dollar (AUD) extends its gains for the second consecutive session on Monday. The AUD/USD pair holds gains as the US Dollar (USD) could face challenges amid the prevailing dovish tone surrounding the US Federal Reserve's (Fed) policy outlook for September. The AUD also received support as an upbeat Australian jobs data for July eased concerns about a weakening labor market, lessening the urgency for the Reserve Bank of Australia (RBA) to continue with another rate cut in September. RBA Governor Michele Bullock stated last week that current forecasts suggest the cash rate may...
Silver climbed above $38 per ounce on Monday, recouping some losses from last week as investors turned their attention to a key meeting in Washington between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy amid efforts to reach a peace deal with Russia. Trump said he would press Zelenskiy to reach a quick settlement following his Friday talks with Russian President Vladimir Putin. While no ceasefire breakthrough was achieved, Putin agreed to allow the US and Europe to provide Ukraine with robust security guarantees as part of a potential deal to end the war. Investors...
Oil prices were largely unchanged on Monday after a drop in early trade, as the United States exerted no further pressure on Russia to end the Ukraine war through measures to disrupt its oil exports following a meeting of the leaders of both nations. Brent crude futures dropped 6 cents, or 0.09%, to $65.79 a barrel by 0342 GMT while U.S. West Texas Intermediate crude was at $62.82 a barrel, up 2 cents, or 0.03%. U.S. President Donald Trump met Russian President Vladimir Putin in Alaska on Friday and emerged more aligned with Moscow on seeking a peace deal instead of a ceasefire...
The dollar steadied on Monday ahead of a key meeting between U.S. President Donald Trump and his Ukrainian counterpart Volodymyr Zelenskiy, while investors also looked ahead to the Federal Reserve's Jackson Hole symposium for more policy clues. Currency moves were largely subdued in the Asia session, though the dollar halted its fall from last week as traders further pared bets on a jumbo Fed cut next month. The euro was little changed at $1.1704, while sterling edged up 0.1% to $1.3563. Against a basket of currencies, the dollar stabilised at 97.85, after losing 0.4% last week. Markets...