Brent oil fell again on Wednesday (October 29th) as the market monitored that supply was still too much for demand. Investors began to doubt that new US and European sanctions on major Russian oil companies would actually cut supply, as Russia can usually still re-channel exports to other countries. At the same time, OPEC+ was discussing plans to increase production again after slowly opening the tap in recent months. So the market took a simple signal: supply could increase, the risk of supply disruptions might not be as severe as feared, and global demand hasn't yet exploded. As a result,...
Gold prices moved cautiously at the start of the Asian session; spot gold was around $3,944,000/oz at the time of writing. Pressure stemmed from comments by Jerome Powell, who emphasized that a December interest rate cut was not a certainty, prompting market participants to reduce bets on further easing. This statement also boosted the dollar and Treasury yields, thus dampening interest in non-coupon gold.Meanwhile, the Fed's decision to cut interest rates by 25 bps and end its balance sheet contraction on December 1st continued to increase liquidity and lower short-term real interest...
Silver prices are trading in the $46-$48/oz range with high volatility. The two driving forces remain the same: safe-haven sentiment (global uncertainty + Fed rate cut expectations) and industrial demand (solar/electrification), which maintains buying interest as yields fall. Even if the Fed cuts rates again, the policy tone going forward remains crucial. If Powell sounds less dovish in December, the dollar could strengthen briefly and pressure silver; conversely, signals of further easing tend to support silver. On the physical side, the market is still weighing tight London spot supply...