Gold: Safe-haven demand offsets energy risks – ING
Gold: Safe-haven demand offsets energy risks – ING
Market narrative
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Gold: Safe-haven demand offsets energy risks – ING
Forex
British Pound remains depressed against US Dollar following soft UK inflation data
Euro: Mild downside within defined range against US Dollar – UOB
USD/JPY Price Forecast: Likely to extend rally towards 164.00
The Pound to US Dollar (GBP/USD) exchange rate weakened on Wednesday after UK inflation cooled by more than expected in June, reducing expectations for further Bank of England policy tightening, while the US Dollar remained underpinned by cautious market sentiment. At the time of writing, GBP/USD was trading around $1.3374, slipping.
Fed and ECB policy meetings headline the week as DXY holds its uptrend. Explore the latest outlook for DXY, EUR/USD and GBP/USD.
Gold and silver rally ahead of the Fed and ECB meetings as central bank buying and industrial demand support precious metals. Explore today's outlook.
The Pound to New Zealand Dollar (GBP/NZD) exchange rate slipped to a one-month low on Tuesday after stronger-than-expected New Zealand inflation reinforced expectations for further Reserve Bank of New Zealand interest rate hikes. At the time of writing, GBP/NZD was trading around NZ$2.2939, down approximately 0.2% on the day.
Saudi Arabia Gold price today: Gold rises, according to FXStreet data
Philippines Gold price today: Gold rises, according to FXStreet data
United Arab Emirates Gold price today: Gold rises, according to FXStreet data
AUD/USD Price Forecast: Consolidates near 0.7000 as bulls await 38.2% Fibo. breakout
Pound Sterling Price News & Forecast: GBP/USD attracts some buyers, though it lacks follow-through
Pakistan Gold price today: Gold rises, according to FXStreet data
India Gold price today: Gold rises, according to FXStreet data
Malaysia Gold price today: Gold rises, according to FXStreet data
Gold's rally this week may prove to be one of the more important developments across financial markets—not simply because prices have reclaimed the $4,100 level, but because the move appears to contradict the macro forces that have governed precious metals for much of the second quarter. Silver has joined the advance, climbing back toward $60, even as Brent crude trades above $92, US Treasury yields continue rising and markets price in an more hawkish Federal Reserve.
Oil prices climbed higher as the Middle East conflict escalated further into an 11th consecutive night of exchanges between US and Iranian forces, with strikes hitting military, energy and gas infrastructure across several Iranian cities and reports of Iranian drone and missile attacks on US bases in the Gulf.
Gold rallies to over two-week high, eyes $4,150 as traders track US-Iran diplomacy efforts
EUR/JPY Price Forecast: Tests ascending triangle top above 186.00