Oil prices edged higher and remained in the green in recent trading, as market participants weighed the chances of a ceasefire in Ukraine and escalating tensions between the United States and Venezuela. WTI oil hovered near $59 per barrel after gaining about 0.5% in the previous session, while Brent closed slightly higher, just above $62 per barrel. US President Donald Trump said the meeting between his envoy and Russian President Vladimir Putin went "quite well," but he admitted he did not yet know the final outcome of the peace talks to end the Russia-Ukraine war. The oil market is...
Gold prices edged higher and held around $4,210 per troy ounce in early Asian trading on Thursday morning. This increase occurred amid sentiment that the Federal Reserve (The Fed) is likely to cut interest rates at its meeting next week. Although the increase was not significant, gold's ability to hold above the $4,200 level indicates that buying interest remains strong. The main trigger for gold's rally came from weaker-than-expected US private sector employment data. The ADP report showed that US private payrolls fell by 32,000 in November, reversing from the 47,000 increase in the...
Gold prices fell suddenly during the Asian trading session on Thursday (December 4), after previously holding firm above the $4,200 per troy ounce area. This movement reflected a brief correction rather than a major trend change, as gold was still trading within that upper range. Market participants took advantage of the sharp rally in recent days to secure short-term profits. The main selling pressure came from profit-taking after gold approached new highs around $4,240–$4,250 and failed to break through. Amid relatively thin liquidity during the Asian session, this modest selling was...