Gold prices fell to their lowest in more than a week on Tuesday (November 18th) as fading bets on a Federal Reserve interest rate cut next month weighed on demand ahead of the release of delayed US economic data this week. Spot gold fell 0.3% to $4,033.29 an ounce, as of 09:09 GMT, after earlier hitting its lowest level since November 10. US gold futures for December delivery fell 1% to $4,032.60 an ounce. "Market participants are expecting a US rate cut following more aggressive comments from Fed officials," said UBS analyst Giovanni Staunovo. "I expect gold prices to bottom soon, as I...
The US dollar index held steady around 99.5 on Tuesday (November 18), halting the moderate gains recorded over the previous two sessions, as traders remained cautious and refrained from taking large positions ahead of key economic data releases. The latest data from the US Department of Labor showed initial jobless claims at 232,000 for the week ending October 18, while continuing claims reached 1.957 million, the highest level since August. The US statistical agency has begun releasing data delayed by the government shutdown, with the employment report scheduled for Thursday. Investors...
Oil prices were steady on Tuesday (November 18), regaining ground after a decline earlier in the session, as traders weighed the impact of Western sanctions on Russian oil flows compared to the expected supply surplus next year. Brent crude rose 2 cents to $64.21 a barrel at 10:31 GMT. U.S. West Texas Intermediate (WTI) crude rose 6 cents to $59.97. "Traders are weighing the impact of the growing global surplus compared to U.S. sanctions disrupting Russian crude flows," said MUFG analyst Soojin Kim. Both benchmarks were trading about 1% lower at the start of the session. The U.S. Treasury...
Gold (XAU/USD) steadies on Tuesday as risk-off sentiment across global markets prompts a mild pickup in safe-haven demand. At the time of writing, XAU/USD is trading around $4,060, bouncing back after slipping to $3,998 earlier in the Asian session. The risk-off tone is being driven by broad equity weakness, with global stocks sliding after a sharp tech-led selloff spilled over from Wall Street into Asia and Europe. Investors are pulling back as worries build around stretched AI valuations ahead of Nvidia's earnings on Wednesday. However, the upside in Gold remains constrained amid...
The US dollar strengthened slightly in trading on Tuesday evening in Asia (November 18th), holding within the 99.4–99.6 range after a moderate rally in the previous two sessions. Real-time data showed the US Dollar Index hovering around 99.52, a slight increase of around 0.04%, with a daily range of 99.40–99.66. This strengthening occurred amid selling pressure on global stock markets, with major indexes in Asia and Europe weakening sharply following a continued correction on Wall Street triggered by concerns about high valuations of technology and crypto stocks. In the foreign exchange...