EUR/USD
1.19826
-0.470%
Gold
5272.54
1.812%
Oil
62.092
-0.537%
USD/JPY
152.707
0.350%
GBP/USD
1.37824
-0.474%
GBP/JPY
210.470
-0.102%
Real-time News
January 28th - Silver prices continued their upward trend, driven by a weaker dollar. Investors are shifting from sovereign bonds and currency assets to safe-haven hard assets. Saxo Bank analysts stated that gold and silver continued their strong gains as devaluation trades regained focus. Furthermore, the fact that Rick Riddell, a BlackRock executive known for his aggressive interest rate cuts, is considered a leading candidate for the next Federal Reserve Chairman further reinforces this logic.The Russian Foreign Ministry announced that the two Russian crew members detained on the oil tanker have been released and are en route to Russia.On January 28th, gold prices broke through $5,300 for the first time, accumulating a gain of over 20% year-to-date. The current "confidence crisis" in the US dollar further enhances the attractiveness of gold to overseas investors. Kelvin Wong, senior market analyst at Oanda, stated that the rise in gold prices stems from its extremely strong indirect negative correlation with the US dollar, as well as Trumps response to the dollar, reflecting a possible consensus within the White House to push for a weaker dollar. Trump also indicated that he would soon announce his nominee for Federal Reserve Chairman and predicted that interest rates would decline after the new chairman takes office. Ilya Spivak, global head of macro at Tastylive, pointed out that given the tension between the Feds responsibilities and the White Houses stance, the market is simply taking a defensive stance ahead of Powells speech today.Chairman of the German Federal Financial Supervisory Authority: There is a high possibility of a sudden correction in the financial markets.Italys Istat consumer confidence index for January was 96.8, below the expected 97 and the previous reading of 96.6.
