Stephen Miran, a Federal Reserve governor whose term ends at the end of January, said Thursday that he is looking for 150 basis points of interest-rate cuts this year to boost the U.S. labor market. Miran told Bloomberg Television's Surveillance program that Fed officials had room to further reduce rates given his view that underlying inflation was likely running at 2.3%. "I'm looking for about a point and a half of cuts. A lot of that is driven by my view of inflation," Miran said. "Underlying inflation is running within noise of our target, and that's a good indication of where overall...
Silver prices surged to a new record, breaking through $80 per ounce for the first time, extending a strong rally heading into the end of the year. This rise marked a historic moment, as silver has moved very aggressively in recent sessions. The white metal rose for the sixth consecutive session and has gained about a quarter (±25%) in that period—the largest six-day gain in data dating back to 1950. The latest surge was driven by speculative fund inflows, coupled with supply disruptions still felt in several major trading centers following the short squeeze in October. Throughout the...
Crude oil prices strengthened towards the end of the year, supported by hopes of better demand from China and a commodity rally that helped lift market sentiment. Brent has returned above $61 per barrel, while WTI is hovering around $57 per barrel. This increase comes after China signaled continued support for growth next year. In a statement by the Chinese Ministry of Finance on Sunday, Beijing said it would expand its fiscal spending base in 2026, indicating the government remains ready to stimulate the economy through stimulus and spending. On the geopolitical front, oil prices...
Silver broke through $77 for the first time on Friday (December 26th), while gold and platinum hit record highs, driven by expectations of a US Federal Reserve interest rate cut and geopolitical tensions fueling demand for safe-haven assets. Spot silver jumped 7.5% to $77.30 an ounce, as of 1:53 PM ET (1853 GMT), after hitting an all-time high of $77.53 earlier today, marking a 167% year-to-date surge driven by supply deficits, its designation as a US essential mineral, and strong investment inflows. Spot gold rose 1.2% to $4,531.41 an ounce, after hitting a record high of $4,549.71...
Oil prices fell more than 2% on Friday (December 26th) as investors weighed the threat of a global oversupply, while also keeping an eye on a potential Ukraine peace deal ahead of talks later this week between Ukrainian President Volodymyr Zelenskiy and U.S. President Donald Trump. Brent crude futures fell $1.60, or 2.57%, to $60.64 per barrel. U.S. West Texas Intermediate (WTI) crude fell $1.61, or 2.76%, to $56.74. Although supply disruptions have helped oil prices recover in recent sessions from a nearly five-year low hit on December 16th, they are on track for their sharpest annual...
Gold, silver, and platinum surged to all-time highs, extending a historic year-end rally for precious metals, supported by rising geopolitical tensions, a weaker U.S. dollar, and thin market liquidity. Spot gold prices rose as much as 1.2% to a peak above $4,530 an ounce on Friday. Spot silver for immediate delivery rose for the fifth consecutive session, climbing as much as 5% to surpass $75 an ounce. Tensions in Venezuela, where the U.S. has blocked oil tankers and increased pressure on the government of Nicolás Maduro, have added to the appeal of precious metals as a safe-haven asset....
Bank of Japan (BOJ) Governor Kazuo Ueda stated that achieving 2% inflation is getting closer, although real inflation remains low. Ueda emphasized that the BOJ will continue to raise interest rates...
The Reserve Bank of Australia (RBA) maintained its cash rate at 4.1% during its April meeting, holding borrowing costs unchanged after slashing 25 bps in the February meeting, aligning with market...