Silver traded around $40.7 per ounce on Wednesday, lingering at its strongest level since 2011 as fiscal strains, renewed trade tensions and ongoing geopolitical risks lifted safe-haven demand. Support also came from expectations of a US Federal Reserve rate cut this month, with markets pricing a 92% chance of a 25 basis point move. Geopolitical nerves heightened after President Xi Jinping warned the world faced a choice of "peace or war" and "dialogue or confrontation" during a military parade, while US President Donald Trump alleged on social media that China was conspiring against the...
Oil prices eased in Asia on Wednesday but held near one-month highs on the back of new U.S. sanctions on a network of shipping companies and vessels, while traders looked ahead to an OPEC+ meeting over the weekend. Brent crude fell 19 cents, or 0.3%, to $68.95 a barrel by 0433 GMT. U.S. West Texas Intermediate crude dipped 16 cents, or 0.2%, at $65.43 a barrel. The benchmarks settled up more than 1% in the previous session after the U.S. imposed new sanctions on a network of shipping companies and vessels led by an Iraqi-Kittitian businessman for smuggling Iranian oil disguised as Iraqi...
Gold (XAU/USD) continued its sideways consolidation throughout the first half of the European session on Wednesday and remained near all-time highs. Growing acceptance that the US Federal Reserve (Fed) will cut interest rates this month limited the US Dollar's (USD) recovery and continued to act as a driver for the non-yielding yellow metal. Furthermore, ongoing trade-related uncertainty benefited the precious metal's safe-haven status and helped limit declines. However, gains remained limited as bullish investors appeared reluctant to place new bets amid highly overbought conditions....