Gold (XAU/USD) prices struggled to capitalize on their modest intraday gains on Tuesday and remained below multi-day highs set the previous day amid mixed fundamental cues. Geopolitical risks stemming from the prolonged Russia-Ukraine war and tensions in the Middle East, along with trade war concerns, continued to lend support to the safe-haven precious metal. However, the Federal Reserve's (Fed) hawkish policy shift kept a lid on the commodity. The US central bank last week signaled it would slow the pace of interest rate cuts in 2025. The outlook remains supportive of a pickup in the US...
The US dollar strengthened in thin holiday-affected trading on Tuesday, maintaining recent strength as traders brace for fewer Federal Reserve interest rate cuts in 2025. At 4:25 AM ET (09:25 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was trading 0.1% higher at 107.905, near a recent two-year high. The dollar has been in demand since the Federal Reserve outlined a hawkish outlook for interest rates after its final policy meeting of the year last week, projecting just two rate cuts of 25 basis points in 2025. In fact, markets are now...
Oil rose in thin holiday trade, supported by a rally in equities and the rise of President-elect Donald Trump in international politics. Brent traded near $73 a barrel after falling slightly on Monday. European and Asian stocks rose after a Wall Street rally led by large-cap technology stocks. However, the dollar held near a two-year high, dampening the appeal of commodities. Trump has threatened to seize the Panama Canal, as well as impose tighter sanctions on Iran and tariffs on China that could affect the global oil balance. "The festive season seems a little different from Donald...
Gold traded in a narrow range as traders weighed the prospect of a slower pace of interest rate cuts by the U.S. Federal Reserve next year. Bullion prices were near $2,615 an ounce after closing down 0.4% on Monday. Investors digested the latest data on U.S. consumer confidence, which unexpectedly fell amid uncertainty over the policies of the incoming Trump administration. Gold was steady during thin holiday trading but a stronger dollar continued to weigh on the market, Pranav Mer, an analyst at JM Financial Services Ltd. in Mumbai, said in a note on Tuesday. Earlier this month, the Fed...
Crude Oil prices are going nowhere as volatility dies down on Tuesday with traders looking ahead to Christmas Eve rather than the release of the American Petroleum Institute (API). Even headlines of further stimulus in China are not driving Oil prices higher: Chinese policymakers want to boost the economy with a 3 trillion Yuan bond injection, a move that should ramp up spending and result in a boost in demand for Oil from one of the world's top consumers. At the time of writing, Crude Oil (WTI) trades at $69.61 and Brent Crude at $72.80.(cay) Newsmaker23 Source: Fxstreet