Oil prices traded in a largely stable manner Monday as Middle East risks eased while traders considered a possible OPEC+ output increase in August. At 08:25 ET (12:25 GMT), Brent oil futures for August fell 0.1% to $66.72 a barrel, and West Texas Intermediate crude futures fell 0.2% to $65.35 a barrel. Both benchmarks posted their biggest weekly decline since March 2023 last week, but are set to finish higher in June with a second consecutive monthly gain of more than 5%, having rallied strongly on the Israel-Iran war. Crude was nursing sharp losses over the past week as an Israel-Iran...
Silver is holding onto a tight range on Monday (06/30), with XAG/USD consolidating around the key psychological level of $36.00 at the time of writing. The metal is under moderate pressure as broader market sentiment favors risk. US equities are holding onto recent gains near record highs. Rising risk appetite continues to weigh on demand for traditional safe-haven assets, capping Silver's upside. Intraday support has emerged around the current session low of $35.41, which has helped limit Silver's downside moves throughout the month of June. The daily candlestick shows a small-bodied...
Gold rose, supported by a decline in the dollar, as Senate negotiations continued over President Donald Trump's $4.5 trillion tax package. Gold rose 0.6% on Monday, after two straight weekly declines. Republicans are trying to convince opponents to support the tax bill for final passage, amid concerns that it will further swell the U.S. deficit. However, the precious metal is on track to end June flat for a second straight month as tensions in the Middle East eased, while consumer sentiment and inflation expectations improved in the U.S. The potential approval of Trump's tax bill and an...