Oil prices remain stable near their lowest level in almost two months, as the market is more concerned about oversupply than the impact of geopolitical tensions. Brent held around US$61/barrel after closing at its lowest level since October 20, while WTI remains below US$58/barrel. The main pressure comes from expectations of a widening supply surplus: OPEC+ and other producers continue to pump more oil, while consumption growth is expected to remain sluggish. This situation means oil prices are expected to remain on a downward path for the year. However, geopolitics is also preventing...
Gold prices halted their rise after a four-day rally, as comments from Federal Reserve (Fed) officials raised doubts about whether the US would cut interest rates again next year. On Monday, gold was stable at around US$4,305/ounce, after rising 2.6% last week. Although the Fed did cut interest rates on Wednesday, three policymakers apparently rejected the decision. The market is signaling that the next easing move could be more difficult and contentious, especially as 2026 approaches, when internal Fed views appear divided. The two officials who voted against it—Austan Goolsbee (Chicago)...
Silver prices are currently holding steady around US$62/ounce after a wild week last week: briefly setting a record, then being hit by profit-taking. Spot price data shows XAG/USD hovering around US$62 within a narrow daily range, indicating the market is awaiting a new trigger. From a macro perspective, the most "lifting" factor for silver right now is the direction of US interest rates. The Fed has indeed cut interest rates, but there are internal disagreements, so the market is becoming more cautious about betting on further easing in 2026. If expectations of lower interest rates...