Gold prices held near one-year highs on Friday as recent U.S. economic data reinforced hopes that the Federal Reserve was close to the end of its rate-hiking cycle, which drove non-yielding bullion towards a second straight weekly rise. Spot gold was down 0.2% at $2,034.89 per ounce by 1108 GMT, with prices hovering below last … Read more
The yen sank against major peers on Monday after U.S. payrolls data bolstered the case for further Federal Reserve rate hikes, highlighting a growing disparity with Japan where the central bank continues to pin the benchmark yield near zero. Meanwhile, the risk-sensitive New Zealand and Australian dollars weakened amid heightened U.S.-China tensions over Taiwan, with … Read more
Gold prices edged down on Monday as a steady U.S. dollar made bullion less affordable for overseas buyers, while authorities attempted to assuage investor fears over a potential liquidity crisis in the global banking sector. FUNDAMENTALS * Spot gold was down 0.1% at $1,975.76 per ounce, as of 0104 GMT. U.S. gold futures fell 0.3% … Read more
Gold prices fell on Monday, weighed down by a stronger dollar and after recent U.S. economic data raised worries that the Federal Reserve could hike interest rates further. FUNDAMENTALS * Spot gold was down 0.2% at $1,837.59 per ounce, as of 0048 GMT. U.S. gold futures eased 0.1% to $1,847.60. * The dollar index was … Read more
Oil prices made modest gains in early trade on Friday but were heading for a second straight week of losses, as the market looked for more signs of a strong recovery in fuel demand in China to offset looming slumps in other major economies. Brent crude futures rose 16 cents, or 0.2%, to $82.33 a … Read more
Gold prices held steady on Thursday, hovering close to a near seven-month high scaled in the previous session, while market participants prepared for U.S. jobs data that could influence the Federal Reserve‘s policy trajectory. * Spot gold held its ground at $1,854.89 per ounce, as of 0042 GMT. Prices rose as much as 1.4% to … Read more
Gold prices traded in a tight range on Tuesday, as investors maintained a cautious stance ahead of this week’s policy meeting by the Federal Reserve where the U.S. central bank is likely to hike interest rates to tame high inflation. FUNDAMENTALS * Spot gold held its ground at $1,676.80 per ounce, as of 0037 GMT. … Read more
Oil prices turned down in early trade on Friday after a slight rebound in the previous session, leaving them set to fall for a second straight week on worries that central banks’ aggressive rate hikes and China’s COVID-19 curbs will hurt demand. Brent crude futures slipped 12 cents, or 0.1%, to $89.03 a barrel at … Read more
Oil prices dropped early on Monday as investors braced for this week’s meeting of officials from OPEC and other top producers on supply adjustments. Brent crude futures dropped 63 cents, or 0.6%, to $103.34 a barrel by 0000 GMT. U.S. West Texas Intermediate crude was at $97.87 a barrel, down 75 cents, or 0.7%, after … Read more
Oil prices rose more than $2 in early trade on Monday after Saudi Arabia raised prices sharply for its crude sales in July, an indicator of how tight supply is even after OPEC+ agreed to accelerate its output increases over the next two months. Brent crude futures were up $1.80, or 1.5%, at $121.52 a … Read more