Gold edges higher in early Asian trade amid lingering safe-haven demand. Geopolitical tensions have continued to support this demand, DHF Capital's Bas Kooijman says in an email. NATO recently described Russia's airspace violation over Estonia as part of a broader pattern of aggression, warning it would deploy "all necessary measures" to defend members, the CEO and asset manager says. Risks of a possible U.S. government shutdown next week may also be buoying the precious metal. Spot gold is 0.1% higher at $3,740.58/oz. Source: Dowjonesnewswires.com
Oil steadied following its biggest jump since July, after US President Donald Trump's increasingly hawkish rhetoric on Russia raised geopolitical risk. West Texas Intermediate traded above $64 a barrel after gaining 2.5% on Wednesday, while Brent settled above $69. Trump said NATO nations should shoot down Russian aircraft that violated their airspace and that Europe should stop purchasing energy from the OPEC+ member, leading oil investors to cut bearish positions. Meanwhile, US government data showed nationwide crude inventories declined to the...
Silver price (XAG/USD) pares its recent losses from the previous session, trading around $44.00 per troy ounce during the European hours on Thursday. The non-interest-bearing Silver maintains its position near a 14-year high of $44.47, which was reached on Tuesday as traders widely expect a 25-basis-point rate cut by the US Federal Reserve (Fed) at its October policy meeting. US Federal Reserve (Fed) Chair Jerome Powell struck a cautious note, stressing that the US central bank must weigh stubborn inflation against a softening job market, calling it "a challenging situation" and reiterating...
The Japanese Yen (JPY) attracts some buyers during the Asian session on Thursday and recovers a part of the previous day's heavy losses in reaction to the hawkish Bank of Japan (BoJ) expectations. In fact, Minutes from the BoJ's July meeting revealed that board members expect the central bank to keep hiking if inflation and the economy move as estimated. This underscores mounting pressure within the central bank to phase out the massive monetary stimulus. Apart from this, the cautious market mood turns out to be another factor driving some safe-haven flows towards the JPY. Meanwhile, the...
Gold prices held steady on Thursday with a slightly weaker dollar lending some support, while investors awaited key U.S. economic data for further insights into the Federal Reserve policy path. Spot gold was at $3,737.01 per ounce, as of 0347 GMT. U.S. gold futures for December delivery were unchanged at $3,767.90. The U.S. dollar index fell 0.1%, making greenback-priced bullion less expensive for overseas buyers. On Wednesday, San Francisco Federal Reserve Bank President Mary Daly said she "fully supported" the Fed's decision to cut its policy rate last week and expects further...