Gold slipped slightly Tuesday, pressured by a stronger U.S. dollar and lingering uncertainty over the Federal Reserve's next policy move. Spot gold fell 0.8% to $3,970.08 per ounce and U.S. Gold Futures declined 0.8% to $3,980.31 per ounce. The metal has struggled to hold above the $4,000 mark as the dollar extended gains, making bullion more expensive for overseas buyers. Gold pressured by stronger dollarThe dollar climbed to a three-month high against major currencies on Monday, underpinned by fading bets of another rate cut this year. Fed Chair Jerome Powell last week signaled that...
The USD/JPY pair declines on Tuesday to around 153.50 at the time of writing, down 0.40% on the day, as the Japanese Yen (JPY) attracts fresh safe-haven flows amid renewed global risk aversion. Fears of potential intervention from Japan's Ministry of Finance and the recent hawkish tone from Bank of Japan (BoJ) Governor Kazuo Ueda lend further support to the JPY. Ueda hinted last week that a rate hike could come by the end of this year or early next year, reinforcing expectations of a gradual policy shift by the BoJ. However, the Japanese Yen's upside remains limited. Uncertainty over the...
Gold edges higher on a possible technical recovery after front-month gold futures settled down 1.3% overnight. It shouldn't be a big surprise to see the precious metal consolidating in a lower $3,800-$4,050 per ounce trading range, TD Securities' Bart Melek says in a research report. The "perfect" gold bull market environment has been eroded by recent Fed rate cut ambiguities, central bank and Chinese retail buying worries, the head of Commodity Strategy says. After consolidation, however, average gold price is likely to reach a new quarterly record "north" of $4,400/oz in 1H 2026, Melek...
Oil fell for a second day after an industry report indicated the biggest increase in US inventories in more than three months. West Texas Intermediate held above $60, while Brent settled at more than $64 on Tuesday. US crude inventories rose 6.5 million barrels last week, according to a document from the American Petroleum Institute seen by Bloomberg. That would be the biggest jump since July 25 if confirmed by official data later Wednesday. Oil declined Tuesday after a global equities rally hit a speed bump and the greenback climbed to the...
The Australian dollar weakened to around $0.647, hitting its lowest level in eleven weeks. This decline continued as risk-off sentiment in global markets intensified, overshadowing the Reserve Bank of Australia's (RBA) hawkish policy outlook. At its November policy meeting, the RBA maintained its cash rate at 3.6%, citing ongoing inflationary pressures. Although RBA Governor Michele Bullock stated that the scope for further easing was limited, the market now sees little chance of a rate cut this year. However, despite the RBA's hawkish stance, it was not enough to lift the Australian...