Latest news with #ExinityGroup
Gulf Business
17-06-2025
- Business
- Gulf Business
Gold gains as Israel-Iran crisis lifts safe-haven appeal
Image: Getty Images Gold prices rose on Tuesday as the conflict between Israel and Iran prompted investors to seek refuge in safe-haven assets, as they also await the upcoming US Federal Reserve policy meeting. Spot gold was up 0.1 per cent to $3,386.29 an ounce, as of 1203 GMT. US gold futures fell 0.4 per cent to $3,404.90. Israel's attacks on Iran have broadened its conflicts in the region to a level that poses a global threat, Jordan's King Abdullah said in a speech in the European Parliament on Tuesday. US President 'Gold still retains its bias for lurching upwards on signs of a worsening Middle East crisis, given the precious metal's stature as the preferred safe haven of late,' said Han Tan, chief market analyst at Exinity Group. Gold: A hedge against economic uncertainty Zero-yield bullion is considered a hedge against geopolitical and economic uncertainty and tends to thrive in a low-interest environment. 'Barring knee-jerk spikes on a worsening geopolitical conflict, bullion bulls' quest for pushing spot prices sustainably above $,3500 may only be fulfilled once the Fed signals a sooner-than-later rate cut,' Tan said. The US central bank's rate decision and Chair Jerome Powell's remarks are due on Wednesday. Traders are currently pricing in two cuts by the end of the year. Meanwhile, Citi lowered its short-term and long-term price targets for gold, projecting prices could drop below $3,000 per ounce by late 2025 or early 2026, driven by declining investment demand and an improving global growth outlook, it said in a note on Monday. Elsewhere, spot silver was up 1.9 per cenr at $37.01 per ounce, its highest level since February 2012, platinum rose 1.3 per cent to $1,262.43, while palladium gained 1.5 per cent to $1,044.94.
Zawya
17-06-2025
- Business
- Zawya
Gold gains as Israel-Iran conflict lifts safe-haven appeal
Gold prices rose on Tuesday as the conflict between Israel and Iran prompted investors to seek refuge in safe-haven assets, as they also await the upcoming U.S. Federal Reserve policy meeting. Spot gold was up 0.1% to $3,386.29 an ounce, as of 1203 GMT. U.S. gold futures fell 0.4% to $3,404.90. Israel's attacks on Iran have broadened its conflicts in the region to a level that poses a global threat, Jordan's King Abdullah said in a speech in the European Parliament on Tuesday. U.S. President Donald Trump said he wanted a "real end" to the nuclear dispute with Iran and cut short his trip to the G7 summit in Canada. A separate report said he had asked for his administration's National Security Council to be prepared in the situation room. "Gold still retains its bias for lurching upwards on signs of a worsening Middle East conflict, given the precious metal's stature as the preferred safe haven of late," said Han Tan, chief market analyst at Exinity Group. Zero-yield bullion is considered a hedge against geopolitical and economic uncertainty and tends to thrive in a low-interest environment. "Barring knee-jerk spikes on a worsening geopolitical conflict, bullion bulls' quest for pushing spot prices sustainably above $3500 may only be fulfilled once the Fed signals a sooner-than-later rate cut," Tan said. The U.S. central bank's rate decision and Chair Jerome Powell's remarks are due on Wednesday. Traders are currently pricing in two cuts by the end of the year. Meanwhile, Citi lowered its short-term and long-term price targets for gold, projecting prices could drop below $3,000 per ounce by late 2025 or early 2026, driven by declining investment demand and an improving global growth outlook, it said in a note on Monday. Elsewhere, spot silver was up 1.9% at $37.01 per ounce, its highest level since February 2012, platinum rose 1.3% to $1,262.43, while palladium gained 1.5% to $1,044.94.
Zawya
17-06-2025
- Business
- Zawya
Gold steady as market eyes Middle East conflict, Fed decision
Gold prices were steady on Tuesday as investors assessed the conflict between Israel and Iran and looked ahead to this week's U.S. Federal Reserve's policy meeting. Spot gold was steady at $3,383.01 an ounce, as of 0851 GMT. U.S. gold futures fell 0.5% to $3,401.30. Israel and Iran exchanged attacks for a fifth consecutive day on Tuesday. U.S. President Donald Trump urged an evacuation of Iran's capital Tehran and cut short his trip to the G7 summit in Canada. A separate report said he had asked for his administration's National Security Council to be prepared in the situation room. "Markets are waiting for the latest signals whether hostilities between Israel and Iran would escalate or will remain contained," said Han Tan, chief market analyst at Exinity Group. "Gold still retains its bias for lurching upwards on signs of a worsening Middle East conflict, given the precious metal's stature as the preferred safe haven of late." Sources told Reuters that Tehran has asked Oman, Qatar, and Saudi Arabia to urge Trump to push Israel for a ceasefire in the region, with Iran offering flexibility in nuclear talks in return. Zero-yield bullion is considered a hedge against geopolitical and economic uncertainty and tends to thrive in a low-interest environment. The U.S. central bank rate decision and Chair Jerome Powell's remarks are due on Wednesday. Traders are currently pricing in two cuts by the end of the year. Meanwhile, Citi lowered its short-term and long-term price targets for gold, projecting prices could drop below $3,000 per ounce by late 2025 or early 2026, driven by declining investment demand and an improving global growth outlook, it said in a note on Monday. Elsewhere, spot silver was up 0.3% at $36.45 per ounce, platinum was unchanged at $1,246.59, while palladium fell 0.4% to $1,025.44.
Yahoo
17-06-2025
- Business
- Yahoo
Gold steady as market eyes Middle East conflict, Fed decision
By Anushree Mukherjee (Reuters) - Gold prices were steady on Tuesday as investors assessed the conflict between Israel and Iran and looked ahead to this week's U.S. Federal Reserve's policy meeting. Spot gold was steady at $3,383.01 an ounce, as of 0851 GMT. U.S. gold futures fell 0.5% to $3,401.30. Israel and Iran exchanged attacks for a fifth consecutive day on Tuesday. U.S. President Donald Trump urged an evacuation of Iran's capital Tehran and cut short his trip to the G7 summit in Canada. A separate report said he had asked for his administration's National Security Council to be prepared in the situation room. "Markets are waiting for the latest signals whether hostilities between Israel and Iran would escalate or will remain contained," said Han Tan, chief market analyst at Exinity Group. "Gold still retains its bias for lurching upwards on signs of a worsening Middle East conflict, given the precious metal's stature as the preferred safe haven of late." Sources told Reuters that Tehran has asked Oman, Qatar, and Saudi Arabia to urge Trump to push Israel for a ceasefire in the region, with Iran offering flexibility in nuclear talks in return. Zero-yield bullion is considered a hedge against geopolitical and economic uncertainty and tends to thrive in a low-interest environment. The U.S. central bank rate decision and Chair Jerome Powell's remarks are due on Wednesday. Traders are currently pricing in two cuts by the end of the year. Meanwhile, Citi lowered its short-term and long-term price targets for gold, projecting prices could drop below $3,000 per ounce by late 2025 or early 2026, driven by declining investment demand and an improving global growth outlook, it said in a note on Monday. Elsewhere, spot silver was up 0.3% at $36.45 per ounce, platinum was unchanged at $1,246.59, while palladium fell 0.4% to $1,025.44. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Zawya
11-06-2025
- Business
- Zawya
Gold gains as US-China trade deal jitters persist; inflation data eyed
Gold prices firmed on Wednesday as investors stayed cautious amid lingering uncertainty over the U.S.-China trade truce and waited for key inflation data for clues into the Federal Reserve's interest rate trajectory. Spot gold gained 0.4% to $3,336.20 an ounce as of 0946 GMT. U.S. gold futures rose 0.4% to $3,347. U.S. and Chinese officials said on Tuesday they had agreed on a framework to put their trade truce back on track and remove China's export restrictions on rare earths, but offered little sign of a durable resolution to longstanding trade differences. In April, the U.S. and China imposed tit-for-tat tariffs on each other, triggering a trade war. After negotiations in Geneva last month, both countries agreed to scale back tariffs from triple-digit levels. "Markets are well aware that the path towards a trade deal between major economies is not a straightforward affair," said Han Tan, chief market analyst at Exinity Group. "Gold should remain supported as long as global trade tensions risk escalating further, or even just staying elevated for longer." The U.S. consumer price index (CPI) report, due at 1230 GMT, could give investors more guidance on the Fed's policy path. "Markets are expecting an uptick in the CPI prints, which should keep the odds for Fed rate cuts in check," Tan added. The central bank will keep rates steady for at least another couple of months, according to most economists polled by Reuters, as risks of inflation rebounding due to President Donald Trump's tariff policies loom. Elsewhere, spot silver fell 0.8% to $36.27 per ounce after hitting a more than 13-year high earlier this week. "We expect silver to reach $38/oz in the coming months. Market deficit considerations and a weaker USD hold the key for even higher prices - a test of $40/oz is possible," UBS said. Platinum rose 3.1% to $1,259.63, its highest since May 2021. Palladium added 1.7% to $1,077.89. (Reporting by Anushree Mukherjee in Bengaluru; Editing by Sumana Nandy and Joe Bavier)
