Gold (XAU/USD) trades marginally higher on Friday, oscillating within the familiar range that has defined price action this week, as dovish Federal Reserve (Fed) expectations keep the precious metal broadly supported. At the time of writing, XAU/USD is hovering near $4,222, with investors turning their focus to the delayed US Personal Consumption Expenditures (PCE) inflation data due later in the day. Markets will closely parse the PCE release as the final checkpoint ahead of next week's Fed interest rate decision. Recent labour indicators have delivered mixed signals but have done little...
Silver hit a new record high and is on track for a second weekly gain as strong inflows into exchange-traded funds (ETFs) fueled a sharp rally. The white metal rose as much as 3.9% on Friday to a new record of $59.33 an ounce. Total additions to silver-backed ETFs in the four days through Thursday reached their highest level for any full week since July, a strong signal of investor interest despite signs that silver's rally may be overdone. "These inflows could quickly amplify the price action and trigger a short-term short squeeze," said Dilin Wu, research strategist at Pepperstone Group...
Oil prices rose as U.S. stocks continued their rally, extending a two-day rally, while investors assessed the prospects for a ceasefire in Ukraine and signs of a widening global surplus. West Texas Intermediate crude oil prices traded above $60 per barrel, signaling that a risk premium remains in place as a peace deal remains elusive. Ukrainian negotiators headed for a new round of talks in Florida, with Russia objecting to several points in the U.S.-backed plan. The Kremlin said it was awaiting analysis of the U.S.-Ukraine discussions, Interfax reported on Friday. The market is watching...