Brent Crude Oil prices rose on Thursday (November 6th) due to growing concerns about global supply, including potential disruptions to oil flows from the Middle East, while market sentiment grew more optimistic about economic recovery, which could boost energy demand. (alg) Source: Newsmaker.id
Gold prices approached $4,000/oz on Friday (November 7th) after weak US jobs data reinforced expectations of an imminent Fed rate cut. Challenger job cuts nearly tripled in October—the largest increase in more than two decades—dampening optimism from the ADP payroll rebound. With official data limited due to the government shutdown, the market is placing greater weight on the private release and now rates the chance of a December cut at around 69%, up from 60% the day before. A weaker US dollar also provided a boost by making gold cheaper for foreign buyers, while economic uncertainty...
Brent prices surged again on Friday (November 7th), fueled by escalating geopolitical tensions in the Middle East, which have raised concerns about global supply disruptions. However, demand remains weak and global economic growth is slowing. (alg) Source: Newsmaker.id