Gold prices held firm on Wednesday, supported by lower U.S. Treasury yields, although bullion traded in a narrow range as investors stayed on the sidelines awaiting more cues on the Federal Reserve policy. FUNDAMENTALS * Spot gold was steady at $2,178.31 per ounce, as of 0125 GMT, following two session on gains. * U.S. gold
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Swiss Franc traded broadly lower in Asian session today, amidst a backdrop of general market inactivity with all other major pairs and crosses staying inside Monday’s range. Still, it remains to be seen whether the Franc’s sell-off could extend beyond last week’s lows, a downturn initiated by SNB’s unexpected rate cut. Meanwhile, Euro and Sterling
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Oil prices were little changed on Tuesday as investors took a more mixed view toward the loss of Russian refinery capacity after recent Ukrainian attacks while a slightly weaker U.S. dollar offered some support. Front-month Brent crude futures due to expire on Thursday were 11 cents down at $86.64 a barrel by 1415 GMT while
Risk-on sentiment is pressuring e Swiss Franc and, to a lesser extent, Yen and Dollar today. DAX soared to new record highs, undeterred by the latest weak German consumer sentiment data, while CAC and FTSE are also marking gains. Similarly, the CAC and FTSE indices are registering gains, with U.S. futures indicating a positive start
This is scheduled to take place on Wednesday this week. The meeting is reportedly proposed by the chief executive of US insurer Chubb, Evan Greenberg. And the other outside attendees will include Stephen Orlins, president of the National Committee of US-China relations, and Craig Allen, president of the US-China Business Council. Beijing had just hosted
Tracking weakness from its offshore peers, gold prices traded in the red in the opening trade on Tuesday. The street remains cautious ahead of the inflation data due for a release in the US later this week. Softness in the yellow metal over the last few sessions has been on account of dollar uptick The
The forex markets display a calm demeanor in the Asian session, with most major pairs and crosses gyrating in very tight ranges. Australian Dollar finds modest support from the state orchestrated rebound in Chinese Yuan. However, this lift hasn’t translated into clear momentum for an extended rally in Aussie. Meanwhile, Yen continues to pare back
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices rose on Monday, driven by expectations of interest rate cuts by the U.S. Federal Reserve this year even as traders await inflation readings this week for confirmation on the timing of these reductions. Spot gold gained 0.5% to $2,175.68 per ounce as of 11:42 a.m. EDT (1542 GMT), while silver rose 0.2% to
Mild risk-off mood is seen in the global financial markets today, starting from the the noticeable retreat in Japan’s Nikkei, then the marginal declines across European stock indices, alongside soft US futures. However, this sense of caution has not significantly rippled through the currency markets, where activity remains largely subdued. Notably, most major currency pairs
The dollar managed a solid rebound towards the end of last week and is holding on to that coming into this week. Things are fairly calmer today, with light changes overall seen in the major currencies space. The dollar remains steady, as it looks to procure the next leg higher after last week’s moves. So
Gold dipped on Friday as the dollar strengthened, but was on track for a weekly gain after rallying to a record high in the previous session in the wake of the U.S. Federal Reserve‘s rate cut plans. Spot gold was down 0.9% at $2,160.63 per ounce as of 2:13 p.m. EDT (1813 GMT), and was
UPCOMING EVENTS: Tuesday: US Durable Goods Orders, US Consumer Confidence. Wednesday: Australia Monthly CPI, Fed’s Waller. Thursday: BoJ Summary of Opinions, Australia Retail Sales, Canada GDP, US Final Q4 GDP, US Jobless Claims. Friday: US Good Friday Holiday, Japan Jobs data, Tokyo CPI, Japan Industrial Production and Retail Sales, US PCE, Fed Chair Powell. Tuesday
As the financial year 2023-24 (April-March) is set to close in a week, gold’s returns so far amount to an impressive 11% beating the inflation by nearly twice. However, returns by silver over the same period have been a mere 3.2%. Both gold and silver have outperformed their peers in the international market. The yellow
Goldman Sachs forecasts for USD/JPY: 3 months 155 (the prior forecast for 3 months out was 145) 6 months 150 (prior 142) 12 months 145 (prior 140) These are from a GS note sent to client on Friday. GS cite a “benign macro risk environment” for its bearish view on yen. GS analysts also say
Spot gold hit a fresh record high of $2,222 on a dovish FOMC monetary policy decision before giving back all the gains due to the resurgent dollar. It closed with a weekly gain of nearly 0.40% at $2,166 in an eventful week laden with monetary policy decisions of key central banks. The metal fell to
The major US indices are closing with mixed results today. The Dow industrial average and S&P index both closed lower. No record closes for those indices on the last trading day of the week. The NASDAQ index did close in positive territory and at a new record. A summary of the closing levels shows: Dow