Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook. Brent slid as much as 1.6% toward $67 a barrel after falling 0.7% on Friday, and West Texas Intermediate was below $66. The group led by Saudi Arabia decided on Saturday to increase supply by 548,000 barrels a day, putting OPEC+ on track to unwind its most recent output cuts a year earlier than planned. Alliance officials cited summer demand as one reason for their optimism that the extra barrels could be...
Gold prices experienced a slight decline at the beginning of this week, amid rising geopolitical tensions and changes in US trade policy. The decline occurred after US President Donald Trump hinted that he would impose an additional 10% tariff on countries that side with the BRICS group. The threat encouraged the strengthening of the US dollar, which in turn pressured gold prices. Gold bullion fell by 0.9%, trading near $3,306 per ounce. Investors are now monitoring the direction of US trade policy ahead of the tariff deadline on July 9. Treasury Secretary Scott Bessent signaled a possible...
Silver (XAG/USD) prices are currently holding below the psychological level of $37.00, trading around $36.70 per troy ounce in Asia, after halting a three-day rally in a row. Although demand for safe-haven assets has strengthened amid geopolitical tensions—especially the ongoing conflict in Gaza and President Donald Trump's threat of additional tariffs on pro-BRICS countries—silver prices are still being pressured by a stronger US dollar and easing expectations of a rate cut by the Federal Reserve. Tariff uncertainty keeps investors on the sidelines, but non-yielding assets such as silver...