Capitals, June 9 (SANA) Global financial markets moved cautiously on Tuesday as oil prices declined, the US dollar strengthened and gold traded near stable levels amid continued monitoring of developments in the Middle East.
According to Reuters, crude oil prices fell after reports that Iran and Israel had halted reciprocal attacks following a call by US President Donald Trump, reversing most of the gains recorded in the previous session.
Brent crude dropped by $1.33 to $92.92 per barrel, while US West Texas Intermediate crude fell by $1.73 to $89.57 per barrel. Despite the decline, oil prices remain significantly higher compared with the beginning of the year amid ongoing geopolitical concerns.
Gold prices were broadly steady as investors weighed geopolitical uncertainty against expectations for upcoming US inflation data and potential Federal Reserve policy decisions. Spot gold traded at $4,332.50 per ounce after reaching its lowest level in more than two months during the previous session, while US gold futures slipped 0.1% to $4,357.10 per ounce.
Other precious metals recorded mixed performances, with silver and platinum posting modest declines, while palladium registered slight gains.
In currency markets, the US dollar strengthened against most major currencies, supported by risk-averse sentiment and expectations of further Federal Reserve interest rate increases. The euro traded at $1.1528 and the British pound at $1.3335, both slightly lower on the day.
The Australian and New Zealand dollars also weakened, while the Japanese yen remained near the closely watched level of 160 against the US dollar. The dollar index stood at 100.03, close to recent highs.
Investors continue to monitor developments in the Middle East, focusing on the durability of the reported ceasefire and its potential implications for global inflation trends and central bank policy in the coming months.
R.H/R.K
