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Analysts believe that fears of a global trade war have increased investor demand for oil as a hedge against inflation and currency devaluation.

In addition to tariff concerns, the market is closely monitoring geopolitical developments in the Middle East. The Trump administration's recent reimposition of sanctions on Iran, aiming to reduce its oil exports to zero, has heightened supply concerns. This provided some support to oil prices.

In addition to tariff concerns, the market is closely monitoring geopolitical developments in the Middle East. The Trump administration's recent reimposition of sanctions on Iran, aiming to reduce its oil exports to zero, has heightened supply concerns, which has supported oil prices.

Gold prices hit a record high in Asian trade on Friday, buoyed by persistent speculation that the Federal Reserve will cut interest rates in the coming week, while increased safe haven demand in the face of a tight U.S. presidential election also helped.

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UBS Global Research has maintained a cautiously optimistic outlook on platinum, with a target price of $1,100/oz by mid-2025 in a note dated Monday. The note mentions that while the market conditions are currently challenging, there are factors that could support this price target over the next year.One of the key drivers behind this outlook is the expectation that the U.S. Federal Reserve will begin its easing cycle soon. Lower interest rates are anticipated to provide support for real assets, including platinum.

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We expect Chair Powell will lay out a case for an orderly withdrawal of monetary policy restrictiveness in a speech at Jackson Hole the morning of Friday, August 23, and by orderly, we mean 25 bp rate cuts, rather than 50 bp," economists' at UBS said in a recent after updating their rate cut call.

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Gold prices gained on Thursday, helped by a weaker U.S. dollar and Treasury yields, as investors waited for more data to gauge the Federal Reserve's outlook for interest rates after a key inflation report dampened hopes for a larger cut in September.

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The long-anticipated moment of a significant shift in the US labor market has arrived, signaling a potential Federal Reserve rate cut before the regular September meeting, Jefferies analysts said in a note to clients on Monday.Recent data revealed "unambiguous evidence of a weakening in the US labor market at a time when inflation is still above the Federal Reserve's 2% target."The labor market report for July showed a mere 114,000 increase in nonfarm payrolls, the second-lowest since December 2020.

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BlackRock CEO Larry Fink spoke in a US media interview (CNBC), endorsing the cryptocurrency:“My opinion five years ago was wrong”“I believe bitcoin is a legitimate financial instrument”BTC should be part of every investor’s portfolioan instrument you invest in when you’re more frightened ... when you believe that countries are debasing their currency by excess deficits“There’s a real need for everyone to look at it as one alternative”

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Powell referenced the idea that central bank policy works with “long and variable lags” to explain why the Fed wouldn’t wait for its target to be hit.The central bank is looking for “greater confidence” that inflation will return to the 2% level, Powell said.The Fed’s next policy meeting is at the end of July.

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