Gold prices firmed on Monday, nearing its recent record high, amid solid bets of a September interest-rate cut following dovish signals from Federal Reserve Chair Jerome Powell and safe-haven demand due to geopolitical risks in the Middle East. Spot gold rose 0.3% to $2,518.47 per ounce at 01:45 p.m. ET (1742 GMT), just shy of…
Oil steadied after a three-day rally, with the threat of a halt in Libyan supply countered by a still-shaky demand outlook. Brent crude traded above $81 a barrel after rising 7% in the sharpest three-day rally since April last year, while West Texas Intermediate was near $77. Libya’s eastern government declared force majeure — a legal clause allowing…
The dollar edged higher on Tuesday and major currencies traded sideways as lingering concerns over tensions in the Middle East partially offset investors’ optimism for imminent U.S. interest rate cuts. Geopolitical risks kept early currency moves subdued, though fears of an escalating conflict following Israel and Hezbollah’s major missile exchange over the weekend petered out….
