Global crude oil prices weakened on Monday (August 11th) as supply concerns eased and hopes for diplomacy between the United States and Russia grew. Brent crude fell -0.37% to USD 66.19 per barrel. Price pressure also stemmed from expectations of increased OPEC+ production, although actual output from several member countries remains limited due to technical constraints. The market is also monitoring the prospect of slowing global economic growth, which could potentially reduce energy demand. Source: Newsmaker.id
Gold prices (XAU/USD) faced strong selling pressure after failing to hold above the $3,400 level in Monday's Asian trading session, as optimistic market sentiment dampened demand for traditional safe-haven assets. However, this downward pressure was contained by growing confidence that the Federal Reserve (The Fed) will continue its interest rate cutting cycle in September. This prevented the US Dollar (USD) from capitalizing on its modest recovery from last Friday's two-week low, thus providing some relief for non-yielding gold. Furthermore, continued trade uncertainty ahead of the US...
Silver prices fell to $37,845 on Monday afternoon, pressured by easing geopolitical tensions after US President Donald Trump announced a meeting with Russian President Putin this week. The easing of global risks has reduced interest in safe-haven assets like silver. However, expectations of a Fed interest rate cut remain supportive of the market. Weak US employment data increased the likelihood of a rate cut in September. Focus now turns to the release of US inflation data on Tuesday, which could trigger further silver movement. At the time of writing, silver was down 1.33% at...