Gold futures surged to a new record high on a weaker U.S. dollar and rising tensions in the Middle East. Gold futures rose 1% to $3,037.60 an ounce, beating Friday's previous record high of $3,017.10 an ounce. The U.S. dollar has been under downward pressure due to weak economic data and concerns about the pace of U.S. growth, alongside the growing burden of public debt, Linh Tran of XS.com said in a note.
At the same time, geopolitical tensions continue to rise in the Middle East. The Israel-Hamas conflict escalated dramatically early Tuesday when Israel launched a series of attacks on Hamas targets across the Gaza Strip, killing more than 300 people, according to Palestinian authorities. Combined with the escalating trade conflict caused by U.S. tariffs, investors have been drawn to gold as a safe haven, Tran wrote.
Source: Bloomberg
Gold price (XAU/USD) maintains its bid tone through the first half of the European session on Friday, though it remains below a one-week high touched the previous day. The US Dollar (USD) struggles t...
Gold edged up to around $3,330 per ounce on Friday, heading for a weekly advance as concerns over the US fiscal deficit and lingering tariff uncertainty boosted the metal's safe-haven appeal. On Thur...
Gold edges higher in the early Asian session amid U.S. fiscal-deficit concerns that typically enhance the safe-haven appeal of the precious metal. The House of Representatives narrowly passed Preside...
Gold prices fell 0.80% on Thursday (03/07) as a strong US Nonfarm Payrolls report strengthened the US Dollar, leading market participants to believe that the Fed is unlikely to cut interest rates at i...
Gold fell 1% on Thursday as stronger-than-expected U.S. payrolls data reinforced expectations that the Federal Reserve is unlikely to cut interest rates as quickly as previously anticipated, denting t...
Although the outcome of ongoing trade negotiations between the U.S. and European Union remains unclear, there are risks of an escalation in tensions, according to analysts at Barclays. European trade officials met with their Trump administration...
Investors will be keeping a close eye on tariff headlines out of Washington next week, as a temporary suspension of punitive import levies is set to expire. If that Wednesday deadline passes without an increase in trade tensions, it could prove...
The U.S. dollar slipped lower Friday, handing back some of the previous session's gains with attention turning to the July 9 deadline for U.S. trade deals. U.S. markets are closed Friday for the Independence Day holiday. Dollar slips on trade...
ADP Employment Change report to show gains in June US job growthThis week, the US labour market is set to take centre stage, adding to the combo of...
The ISM Manufacturing PMI edged up to 49 in June 2025 from 48.5 in May, compared to forecasts of 48.8, signalling economic activity in the...
European stocks edged lower on Tuesday on trade uncertainty with doubts on whether the ECB would continue to cut interest rates.
The Eurozone's...
US-based employers announced 47,999 job cuts in June 2025, the lowest so far this year, compared to 93,816 in May and 48,786 a year earlier. "The...