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South African rand strengthens

ByVictoria

South Africa’s rand, stocks and government bonds strengthened on Friday, boosted by higher gold prices as worries over the United States’ worsening fiscal health sent investors into the safe-haven asset.

At 0929 GMT, the rand traded at 17.9150 against the dollar, 0.5% stronger than Thursday’s closing level.

Gold prices rose on Friday and were poised for their biggest weekly gain in more than a month, as a softer U.S. dollar and concerns over the country’s fiscal outlook boosted bullion’s safe-haven appeal.

Source – Reuters

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    ByVictoria
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    The silver market has been somewhat sideways over the last few weeks, but the Wednesday session could provide enough information to get people moving again.

    Silver fell in the early hours of Wednesday as we have tested the crucial $33 level again. This is an area that of course has been like a magnet for price for some time.

    Talks between the United States and China are seemingly a thing now, and that, of course, will help the idea of industrial demand for silver, but it takes away that precious metal trade as well.

    Source – FX Empire

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    The safe-haven Japanese yen strengthened on Monday while gold pushed to a fresh peak as traders worried that U.S. President Donald Trump’s tariffs would ignite inflation and crimp economic growth.

    The yen was up as much as 0.74% at 148.735 per U.S. dollar at one point on Monday, and was last 0.46% stronger at 149.145. 

    The Swiss franc, another traditional safe haven, started the day by rising 0.3% to 0.8775 per dollar.

    The Canadian dollar was flat at C$1.4321 per greenback.

    Mexico’s peso slipped 0.45% to 20.4364 per dollar.

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    Gold prices above $3000 for the second time

    ByVictoria
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    Gold prices scaled a record peak above the crucial $3,000-mark on Tuesday for the second time in a week, as investors sought cover from economic concerns fuelled by U.S. President Donald Trump’s tariff policies.

    Spot gold rose 0.2% to $3,006.88 an ounce as of 0525 GMT after hitting a record high of $3,016.92 per ounce earlier in the session.

    “Gold is moving higher on account of a weaker dollar and continued tariff uncertainties… With Gold at record highs there is a lot of technical and chart based buying that kicks in since there is no resistance apparent on the charts,” said Marex analyst Edward Meir.

    Spot silver firmed 0.1% to $33.85 an ounce, platinum added 0.2% to $1,002.50 and palladium rose 0.4% to $968.96.

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  • US Treasury yields down

    ByVictoria
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    Investors are expecting a packed week of economic data starting with the Chicago Fed National Activity Index for January out on Monday at 8:30 a.m. ET. This will be followed by the Dallas Fed Manufacturing Index at 10:30 a.m.

    The most anticipated data for the week will be the personal consumption expenditure index, which will be delivered on Friday at 8:30 a.m. ET. The Federal Reserve’s preferred inflation gauge heavily influences the Fed’s rate-cutting decisions.

    Source – CNBC