Gold prices edged lower on Friday (12/27) as the US dollar index held steady, despite continued demand for safe-haven assets amid global geopolitical tensions. Gold futures for February delivery fell 0.11%, or $3, to settle at $2,650.90 an ounce by 10:36 a.m. KSA time and was on track for a weekly loss of around 0.10%. Spot gold was steady at $2,636.08 an ounce, while silver futures for March delivery were unchanged at $30,415 an ounce. Spot platinum fell 0.14% to settle at $938.48 an ounce. The dollar index, which measures the greenback against a basket of six major currencies, was...
Oil rose 1% on Friday and was on track for a weekly gain, spurred by expectations of a stimulus-driven economic recovery in China, the world's biggest oil importer, and by forecasts of lower U.S. inventories. Analysts polled by Reuters had expected U.S. crude stocks to have declined by about 1.9 million barrels last week and market sources said the American Petroleum Institute put the decline at 3.2 million barrels. Brent crude futures were up 74 cents, or 1%, at $74 a barrel by 1404 GMT. U.S. West Texas Intermediate crude rose 80 cents, or 1.15%, from Thursday's close to $70.42. For the...
Gold prices eased on Friday but were set for a weekly gain as investors gravitated towards safe-haven assets amid political uncertainty in the Middle East, overshadowing pressure from a firmer dollar. Spot gold fell 0.8% to $2,614.39 per ounce. U.S. gold futures were down 0.9% to $2,629.7. "There remain geopolitical hotspots around the globe, which is keeping gold in play from a safe haven perspective," said Tim Waterer, chief market analyst at KCM Trade. "Between Russia-Ukraine and events in Gaza, investors remain keen on gold in case either situation flares up further." In the Middle...
Gold prices slipped on Friday as elevated U.S. Treasury yields dimmed non-yielding bullion's allure in a holiday-thinned week, with markets focused on President-elect Donald Trump's return to office and the potential impact of his inflationary policies on the Fed's 2025 outlook. Spot gold fell 0.7% to $2,615.99 per ounce. U.S. gold futures were down 0.8% to $2,633.5. Treasury yields are a little bit higher here, and gold will remain under pressure through the end of today ... we are here in a thin holiday market," said Bob Haberkorn, senior market strategist at RJO Futures. The dollar...
Silver price (XAG/USD) falls to near $29.60 in a thin trading volume session following holidays on Christmas and Boxing Day on Friday. The white metal is under pressure even though tensions in the Middle East region between Israel and Iran have escalated. On Thursday, Israel launched missiles at the Iran-backed Houthis military and bombed Yemini airport. After the air assault, Israeli Prime Minister Benjamin Netanyahu said in an interview with an Israeli TV station of the Houthis, "We are just getting started with them". Israel retaliated to last week's air assault by Iran. Historically,...