Silver (XAG/USD) weakened on Friday, trading around $48.85 per troy ounce at the time of writing, down 0.10% for the day, as the market consolidated below the psychological $49 level. The precious metal is taking a breather after its recent rally, fueled by growing expectations of further monetary easing from the US Federal Reserve (Fed). The latest US Consumer Price Index (CPI) report showed that headline inflation rose by 0.3% month-on-month, lower than the 0.4% forecast, while core inflation slowed to 3.0% year-on-year. The data reinforced expectations that the Fed will maintain its...
Gold prices pared losses on Friday (October 24) after slightly lower-than-expected US inflation data reinforced expectations that the Federal Reserve will cut interest rates next week, but the precious metal is still expected to post its first weekly loss in 10 weeks. Spot gold fell 0.2% to $4,118.29 an ounce at 1:42 p.m. ET (1742 GMT), after falling nearly 2% earlier in the session. Prices have fallen more than 3% for the week. US gold futures for December delivery closed 0.2% lower at $4,137.8 an ounce. "Gold and silver jumped on lower-than-expected September core CPI, but it likely...
Oil prices fell on Friday (October 24th) as skepticism crept into the market regarding the Trump administration's commitment to sanctions against Russia's two largest oil companies related to the war in Ukraine. Brent crude futures closed 5 cents, or 0.1%, lower at $65.94 a barrel, while U.S. crude <CLc1> closed at $61.50 a barrel, down 29 cents, or 0.5%. Both crude benchmarks rallied early in the session, extending gains of more than 5% achieved on Thursday after the sanctions were announced, but then weakened in the final two hours of trading. Crude prices still closed up more than...