[MARKET ANALYSIS] Spot XAU extends to USD 4850/oz following fiscal and trade tensions
The extension of spot XAU to a record high of USD 4850/oz reflects significant geopolitical and fiscal tensions that are driving demand for gold as a safe haven.
[MARKET UPDATE] Spot XAU continues to reach new heights, currently up 2% at USD 4860/oz
Japan's SMFG (8316 JT) plans big JGB purchases after selloff, Bloomberg reports
[MARKET ANALYSIS] Spot XAU extends to USD 4850/oz following fiscal and trade tensions
Air Force One carrying US President Trump has turned back to Joint Base Andrews due to a 'minor electrical issue' on the aircraft, Axios reports; Trump will board another plane and continue towards Davos
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- Crude futures grind higher, but remain far from Tuesday’s settlement price, amid a lack of geopolitical updates.
- Precious Metals continues to reach new heights, with spot XAU extending to an ATH of USD 4850/oz as geopolitics and fiscal worries support the yellow metal.
- Base Metals rise in the early hours of the APAC session, with 3M LME Copper rebounding from Tuesday’s trough of USD 12.69k/t.
The current environment suggests that uncertainty in global trade and economic conditions may continue to bolster precious metals, potentially impacting other asset classes as investors seek to hedge against instability.
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