Silver prices weakened on Friday (November 21), pressured by a combination of a strengthening US dollar, rising bond yields, and a technical correction following the previous rally. The stronger dollar made silver relatively more expensive for holders of other currencies. Meanwhile, expectations that the Fed would not be too aggressive in cutting interest rates reduced market appetite for non-yielding precious metals. At the same time, concerns about a global economic slowdown also weighed on the demand outlook for silver in industries ranging from solar panels to electronics, prompting...
Oil prices fell again after posting their biggest weekly decline since early October, as the market assessed the chances of a Ukraine-Russia peace deal. The agreement could pave the way for increased oil supply from Russia, adding pressure to an already oversupplied market. Brent traded at $61.84 per barrel, while WTI hovered below $58. Market participants are also watching for potential sanctions relief against Russia if negotiations progress, which could worsen the projected oil surplus next year.With OPEC+ and American producers continuing to increase production, market sentiment remains...
Gold prices fell to around $4,040 per ounce on Monday (November 24th), continuing their decline from the weekend. Investors are now awaiting Tuesday's release of US economic data, namely Retail Sales and PPI, for clues on the Fed's policy direction. Expectations for a December interest rate cut have risen again after New York Fed President John Williams signaled support for an imminent rate cut. The market now prices the chance of a December rate cut up to 70%, from around 40% last week following strong employment data. Despite the short-term decline, gold prices are still up around 54%...