Brent oil prices strengthened on Thursday (November 20th), driven by concerns about supply disruptions amidst still-high geopolitical tensions. Brent moved with daily gains of around 0.3% and has strengthened nearly 4% in the past month. Positive sentiment stemmed from new sanctions by the United States and its allies against major Russian oil companies, which sparked concerns about supply tightening, as well as a series of Ukrainian drone attacks on Russian energy infrastructure that briefly disrupted export flows from key ports such as Novorossiysk. On paper, the market remains fraught...
Gold is trading steadily around $4,070 per troy ounce after the release of mixed US employment data. September job growth was stronger than expected, but unemployment also rose, so the signal isn't entirely bullish or bearish for the economy. For the market, this figure isn't strong enough to force the Fed to immediately cut interest rates in December. As a result, gold is likely to trade sideways for now: held back by still-high interest rates, but still seen as a safe haven amid signs of an economic slowdown. (asd)The price of gold at the time of this analysis was $4,073. Disclaimer:This...
The global silver price today (November 21) remained around $50-51 per troy ounce, slightly weaker than the previous day but still well above its early-year level. Fundamentally, silver's movement is again being pulled in two directions: on the one hand, fading hopes for a Fed rate cut in December are tending to depress prices as dollar and bond yields remain attractive; on the other hand, silver remains supported by its position as an alternative safe haven amidst uncertainty regarding US economic data and the direction of Fed policy. In the medium term, silver's overall trend remains...