Oil prices continue to rise due to Russian supply risks (Primorsk, Ust-Luga, Kirishi) and a weakening dollar ahead of the Fed's potential 25 bps cut. Key points: Brent $67.20 / WTI $62.94; drone attacks potentially reducing Russian exports to India and China; weak Chinese data (factories/retail) but refinery throughput and apparent demand are rising; sentiment is also influenced by trade tariff news (G7/US) and concerns about US fuel demand. In essence, there is a supply risk premium lifting prices, while the mixed demand side is holding back any further rally. Future Outlook: The...
Positive sentiment ahead of a potential interest rate cut from the Fed has made precious metals, including silver, more attractive, as carrying costs are likely to decrease if interest rates fall.At the time of this analysis, the price of silver was at $42,178. Source: Newsmaker.id
Gold is consolidating around $3,650 (near resistance), still supported by a weak USD and subdued US yields. Key levels: $3,675 (latest high) above, with $3,626 as support. FOMC decision will be decisive: dovish (-25 bps + further signals) → USD tends to weaken → gold has the potential to rise; more cautious/hawkish → USD could rebound → gold is vulnerable to a correction to the support area. Oil price at the time of writing was $3,659.DISCLAIMER Note: This article is analytical in nature and is not a definitive reference. Consider fundamental and technical developments in trading before...