Gold (XAU/USD) prices rose for the third straight session on Thursday, after rising more than 27% in 2024, marking its best performance since 2010. The upward momentum was driven by US monetary easing, persistent geopolitical tensions, and record central bank buying. However, non-interest-bearing gold may face some headwinds as the Federal Reserve (Fed) is expected to take a more cautious approach to further interest rate cuts in 2025, signaling a shift in its aggressive monetary policy stance. The shift is driven by uncertainty surrounding potential policy changes under the Trump...
Oil prices edged higher on Thursday, the first trading day for 2025, as investors returning from holidays cautiously eyed China's economy and fuel demand following President Xi Jinping's pledge to boost growth. Brent crude futures were up 16 cents, or 0.21%, at $74.80 a barrel by 0829 GMT after closing up 65 cents on Tuesday, the last trading day for 2024. U.S. West Texas Intermediate crude futures were up 16 cents, or 0.22%, at $71.88 a barrel after closing up 73 cents in the previous session. Xi said Tuesday in his New Year's speech that the country will implement more proactive policies...
Silver (XAG/USD) prices kicked off 2025 on a strong note. The white metal gained nearly 1.50% in the European session on Thursday and rose near $29.40. The asset gained as the US Treasury yield rally stalled after surging more than 10% in the past four weeks The 10-year US Treasury yield dipped near 4.55%. Lower yields on interest-bearing assets suggest a lower opportunity cost for non-yielding assets, such as Silver, which increases its appeal. Meanwhile, the US Dollar Index (DXY), which tracks the Greenback against a basket of six major currencies, traded sideways near a more than...
The U.S. dollar weakened on Thursday as traders headed into the new year, but the greenback remained close to a two-year high seen earlier in the week and is likely to remain supported in the near term given a more hawkish Fed stance and expectations for the incoming Trump administration. At 4:45 AM ET (09:45 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was trading 0.1% lower at 108.215, but remained close to a two-year high hit on Tuesday. Dollar to remain in demand in 2025 The index rose 7% in 2024 as traders sharply cut expectations for a...
Gold (XAU/USD) prices extended intraday gains near $2,650 in the North American open on Thursday after the New Year holiday. The precious metal gained as its appeal as a safe-haven asset increased, with investors focused on President-elect Donald Trump taking office on January 20. Trump's expected incoming policies, such as higher import tariffs and lower taxes, would be a boon for Gold. Higher import tariffs would lead to a potential global trade war and lower taxes would increase inflationary pressures in the United States (US). Gold tends to outperform amid economic uncertainty as a...