Gold (XAU/USD) holds steady within familiar ranges on Wednesday as a mild risk-off tone across global markets underpins demand for the safe-haven metal. At the time of writing, XAU/USD is trading around $3,975, recovering modestly from Tuesday's low of $3,928. The risk-off sentiment follows a broad sell-off in global equities, led by weakness in US tech and AI-related stocks. Concerns about stretched valuations and warnings from Wall Street executives of a potential correction sparked the downturn, which rippled through Asian and European markets. Meanwhile, ongoing uncertainty surrounding...
Silver traded above $47.5 per ounce on Wednesday, snapping a three-day losing streak as global risk-off sentiment spurred demand for safe-haven assets. Global equities and other risk assets fell sharply amid concerns over stretched valuations and uncertainty about future US rate cuts. Meanwhile, ADP data showed private employers added 42,000 jobs in October, beating forecasts and signaling continued labor market resilience. The stronger data reinforced the view that the Fed is in no rush to cut rates further, as inflation remains above target and the government shutdown delays key labor...
Oil prices fell more than 1% on Wednesday, settling at two-week lows on pressure from concerns of a possible global oil glut, but data showing signs of strong U.S. demand for fuel limited losses. Brent crude futures closed 92 cents, or 1.43%, lower at $63.52 a barrel, while U.S. West Texas Intermediate crude settled 96 cents, or 1.59%, low at $59.60. Oil prices fell following U.S. government data that showed an increase in crude inventories last week. "A rebound in imports and subdued refining activity amid seasonal maintenance has encouraged a build to U.S. crude inventories," said Kpler...