Oil prices held near two-week highs on Monday (December 8th) as investors anticipated a possible US Federal Reserve interest rate cut this week to boost economic growth and energy demand, while monitoring geopolitical risks threatening Russian and Venezuelan supplies. Brent crude futures fell 25 cents, or 0.4%, to $63.50 a barrel at 09:22 GMT, while US West Texas Intermediate crude was at $59.83, also down 25 cents, or 0.4%. Both contracts closed Friday's trading session at their highest levels since November 18th. "The market is in wait-and-see mode" ahead of further news on US interest...
Silver held near its all-time high at the start of a week in which the Federal Reserve is widely expected to cut interest rates. Gold edged higher. The white metal stabilized after falling as much as 1.4% in Asian trading on Monday. It is less than a dollar shy of the record high of $59.3336 per ounce reached in the last session. Last week was the best since July for inflows into silver-backed exchange-traded funds (ETFs), with nearly 590 tonnes added, signaling investor confidence that the rally has more to go. For most of last week, silver's 14-day relative strength index (RSI)...
Gold (XAU/USD) kicks off the week on a quiet note, with traders reluctant to take fresh positions ahead of the Federal Reserve's (Fed) interest rate decision on Wednesday. At the time of writing, XAU/USD is trading around $4,190, easing after rising to an intraday high of $4,219. Attention remains squarely on the Fed's monetary policy meeting, with markets gearing up for another interest rate cut at the final policy decision of 2025, which would bring the Federal Funds Rate down to the 3.50%-3.75% range. However, the latest Personal Consumption Expenditures (PCE) data and mixed labour...