Gold prices rise in early trading as investors await U.S. private payroll data for cues on the Federal Reserve's next policy move. Futures in New York are up 0.9% to $3,991.60 a troy ounce. "Gold prices rebounded toward $4,000/oz as investors flocked to safe-haven assets after a global stock selloff sparked concerns over stretched equity valuations," says Soojin Kim from MUFG. However, the precious metal remains below the $4,000 mark, pressured by a stronger U.S. dollar and reduced expectations for further interest-rate cuts in December. The medium-term price outlook remains bullish,...
Oil prices were little changed on Wednesday (November 5) as investors digested weaker economic data from major oil-importing countries and US inventories indicating stronger fuel demand, while a stronger US dollar weighed on prices. Brent crude futures edged up 9 cents, or 0.14%, to $64.53 a barrel at 09:00 GMT, after hitting a near two-week low in the previous session. US West Texas Intermediate crude also rose 9 cents, or 0.15%, to $60.65. The weaker economic data coupled with a rally in the US dollar prevented oil from making significant gains, while prices found support from refined...
Gold prices rose more than 1% on Wednesday (November 5), with a slight weakening of the US dollar and widespread risk-off sentiment boosting demand. Spot gold rose 0.8% to $3,966.54 per ounce as of 10:44 GMT. US gold futures for December delivery rose 0.4% to $3,976.10 per ounce. Gold prices have risen about 52% this year, hitting an all-time high of $4,381.21 on October 20. "The recent shift to risk-off sentiment in financial markets due to rising concerns about equity market valuations helped gold stabilize after falling from record levels," said Julius Baer analyst Carsten...