Gold holds in fresh bull-cycle highs in the midday New York session. The Gold Price is being supported amid continued demand for inflation protection in wake of the latest CPI/PPI data. Geopolitical tensions also remain higher and the prospects of Russo-Ukraine peace remain poor, underpinning the Gold Index.Gold price has …
Read More »Market Drivers – US Session – 12 April
The US dollar shed ground ahead of the release of US inflation figures, later recovering somewhat to close the day unevenly. The dollar is stronger against the shared currency, as EUR/USD trades around 1.0830, not far from the year low at 1.0805.Economic DataThe annual rate of US inflation, as per …
Read More »Washington to announce $750 million more in weapons for Ukraine
US President Joe Biden’s administration is expected to announce as soon as Wednesday another $750 million in military assistance for Ukraine for its fight against Russian forces.The equipment would be funded using the Presidential Drawdown Authority, or PDA, in which the president can authorize the transfer of articles and services …
Read More »Johnson, Biden agree to continue pressures on Russia
UK PM Boris Johnson and US President Joe Biden agreed on the need to continue joint efforts to ratchet up the economic pressure on Russian President Vladimir Putin over his invasion of Ukraine, a Downing Street statement on Tuesday said, reported Reuters. The two leaders discussed the need to accelerate …
Read More »Putin: Talks In A Dead-End, Ukraine Deviated From Agreements Achieved In Istanbul
Russian President Vladimir Putin said on Tuesday that talks with Ukraine are in a dead-end, reported Reuters citing Russia’s state-run RIA. Ukraine has deviated from the agreements achieved at talks in Istanbul, he added. Putin’s remarks come after he earlier stated that Russia’s special military operation in Ukraine is going …
Read More »Market Drivers – US Session – 11 April
The market sentiment was sour at the beginning of the week, with the US dollar initially falling but later recovering against its major rivals. Demand for safety pushed USD/CHF lower, to the 0.9300 region, and gold higher, as the precious metal trades around $1,950 per ounce.Economic DataBritish stocks ended lower …
Read More »EU Foreign Ministers agree to intensify weapon deliveries to Ukraine
The German Foriegn Minister on Monday said that EU Foreign Ministers had agreed that weapon deliveries to Ukraine would be intensified and noted that Ukrainians can only be defended with weapons. The German Foreign Minister added that it is important that the EU doesn’t disappoint the ambition of Western Balkan …
Read More »Palladium jumps 5% on supply concerns, inflation risks lift gold prices
On Monday, palladium prices jumped 5 percent to their highest level in more than two weeks, driven by supply concerns after trading of the metal was suspended from Russia, while gold prices increased due to inflation tension caused by the war in Ukraine. Palladium rose 4.5 percent to $ 2534.40 …
Read More »Germany To Stop Russian Gas Imports ‘Very Soon’
German chancellor, Olaf Scholz, said that Germany is doing all it can to wean itself off Russian energy, but declined to endorse a claim by Boris Johnson that it would stop importing Russian gas by the middle of 2024.Scholz said only that the goal would be achieved very soon, and …
Read More »NFP Data Proves Win-Win For USD
The US economy gained 431000 jobs in March, on top of upward revisions and other upbeat data. There is nothing in the data suggesting that the Fed will refrain from a 50 bps rate hike. The US dollar is set to gain ground as traders take risks off the table …
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