Gold (XAU/USD) is on a record-breaking spree, hitting yet another all-time high near $4,380 on Friday as investors seek a reliable store of value amid geopolitical, economic and fiscal uncertainty. At the time of writing, XAU/USD is trading around $4,292, easing from record highs and down nearly 0.80% on the day. Despite the pullback, the metal remains on track for its ninth consecutive weekly gain. Lingering concerns over the prolonged US-China trade standoff remain a key driver behind Gold's recent surge as trade tensions continue to cast a shadow over global growth prospects. The rally...
Oil is teetering on a third week of declines, weighed down by signs the market is reaching the surplus analysts have been waiting for. West Texas Intermediate is trading near $57 a barrel, expected to fall about 3% this week in its longest decline since March. Oversupply news continued to emerge this week. The International Energy Agency (IEA) raised its forecast for a global oversupply next year by about 18%. And a US storage broker reported a surge in bids to secure tanker capacity at the country's main crude hub in Cushing, Oklahoma, underscoring that traders are preparing for a supply...
Gold prices fell more than 2% on Friday (October 17th) after hitting a record high above $4,300 an ounce, pressured by a strengthening dollar and comments by U.S. President Donald Trump that "full-scale" tariffs on China would be unsustainable. Spot gold fell 1.7% to $4,251.19 an ounce at 11:37 a.m. ET (15:37 GMT), after hitting an all-time high of $4,378.69 earlier in the session. The precious metal broke through $4,300/ounce for the first time on Thursday, and is expected to post a weekly gain of 5.8%. U.S. gold futures for December delivery fell 0.8% to $4,268.60. The dollar index rose...
Metals are under pressure Friday, with silver falling more than 5%, the most in six months, after a record-breaking run in recent weeks. The pullback follows a rebound in Treasury yields, supported by easing concerns over regional banks and their lending activity -- a shift that's dampening haven demand, as my colleague Tatiana Darie noted earlier. Some of the weakness may also reflect profit taking after an exceptional year for the precious metals complex. Silver has surged 77% year-to-date, while gold is up 60%, leaving traders with ample incentive to lock in gains amid a...
Gold prices (XAU/USD) fell 2% after hitting a record high of $4,379 on Friday (October 17th), falling below $4,250, triggered by comments by US President Donald Trump that triple-digit tariffs against China were unsustainable. At the time of writing, gold bullion prices were hovering around $4,230-$4,240. Gold bullion prices fell below $4,250 as risk appetite returned and US Treasury yields rose. The greenback began to recover, a drag on gold prices. However, the biggest move was seen in US Treasury yields, with the 10-year US Treasury yield rising nearly three basis points. US President...