Spot silver prices surged to their highest level in decades as surging demand for safe-haven assets exacerbated supply constraints in the London bullion market. The precious metal surged 2.3% past $50 an ounce on Thursday, its highest level since the Hunt Brothers' squeeze in the 1980s. Silver continued a surge that has lifted prices more than 70% this year, outpacing gold's record-breaking rally. This is part of a growing search for safe-haven assets fueled by concerns about fiscal risks in the US, an overheated equity market, and threats to the independence of the Federal...
The dollar weakened on Thursday (October 9th), for the first time this week; most G-10 currencies weakened on the day, with the Australian and Canadian dollars outperforming the rest. The Bloomberg Dollar Spot Index fell less than 0.1% USD/JPY rose for a sixth day to 152.79, the longest winning streak since December EUR/USD fell for a fourth straight day to 1.1611 GBP/USD fell for a third day to 1.3382 USD/CAD fell less than 0.1% to 1.3946, its first decline in three days The government shutdown delayed Thursday's release of US data covering initial and continuing jobless claims as...
Gold moved down from a record high early Thursday as traders take profits while the dollar rose to a two-month high. Spot Gold was last seen down 0,72% to $4,010.40 per ounce. The price of the precious metal has climbed 21% since Aug. 18 when it began to rise as U.S. President Donald Trump threatened the independence of the Federal Reserve, while the central bank signaled it was ready to begin lowering interest rates as the U.S. labor market weakened. Strong demand from central banks and exchange-traded funds have also offer support for the metal's record run. "Strong ETF inflows,...
Gold price retreated during the North American session on Thursday after hitting a record high of $4,058, plunges below $4,000 as the Greenback posts solid gains.. XAU/USD trades at $3,978, down 1.5%. Safe haven demand eases amid Israel–Hamas ceasefire hopesThe Gold market mood turned negative on Thursday. Bullion prices fell as traders booked profits, sending prices toward a daily low of $3,944 as China's traders got back from holidays. Upbeat news regarding a permanent ceasefire between Israel and Hamas added to relief sentiment by market players. Despite this, the ongoing Russia-Ukraine...
Oil prices settled lower on Thursday after Israel and the Palestinian militant group Hamas signed an agreement to cease fire in Gaza. Brent crude futures closed down $1.03, or 1.6%, at $65.22 a barrel. U.S. West Texas Intermediate crude was down $1.04, or 1.7%, at $61.51. Israel and the Palestinian militant group Hamas signed an agreement on Thursday to cease fire and free Israeli hostages in exchange for Palestinian prisoners, in the first phase of U.S. President Donald Trump's initiative to end the war in Gaza. Under the ceasefire deal, fighting will cease, Israel will partially...