Silver prices (XAG/USD) continued their three-day rally, approaching US$52.00 per troy ounce during Wednesday's Asian session. This strengthening occurred as US bond yields weakened, with the 10-year US Treasury yield holding around 4.00% after falling around 3.4% over the week. Lower yields make non-yielding assets like silver attractive again to investors. According to the CME FedWatch tool, the probability of the Fed cutting interest rates by 25 bps to a range of 3.50%-3.75% at its December meeting jumped to around 85.3%, from just 50.1% the previous week. These dovish expectations were...
Gold prices rose in Asian trade on Wednesday, benefiting from a softer dollar as a batch of middling U.S. economic readings drove increased conviction that the Federal Reserve will cut interest rates in December. Haven demand for gold appeared strong even as broader risk-driven assets rallied this week, amid lingering tensions between Japan and China, while uncertainty over a Russia-Ukraine ceasefire and stretched fiscal spending also helped. Spot gold rose 0.9% to $4,166.13 an ounce, while gold futures for February rose 0.9% to $4,201.15/oz by 00:24 ET (05:24 GMT). Gold rises as weak US...
Oil prices climbed on Wednesday after sliding to a one-month low in the previous session, though an expected supply glut and a potential Russia-Ukraine peace deal capped gains. Brent crude futures rose 28 cents, or 0.45%, to $62.76 a barrel at 0708 GMT, while U.S. West Texas Intermediate crude futures gained 26 cents, or 0.45%, to $58.27 a barrel. "The mild gains feel more like a technical breather than a trend," said Priyanka Sachdeva, a senior market analyst at Phillip Nova. "Any upticks we see – today or going forward - are largely driven by softer inventory signals and pockets of...