Gold (XAU/USD) erases earlier gains on Thursday after the non-yielding metal hit $4,374 and approached the all-time high of $4,381 following the release of a weaker-than-expected inflation report in the US. At the time of writing, XAU/USD trades at $4,335. Bullion retreats as markets question inflation data reliability, keep January Fed cut odds unchanged. The core US Consumer Price Index (CPI) print in November fell to its lowest level since early 2021, according to the US Bureau of Labor Statistics (BLS). Both headlined and core CPIs dipped, but economists warned that the 43-day...
Gold prices were stable in the morning trading session in Asia. This precious metal was supported by the prospect of a US Federal Reserve (Fed) interest rate cut, which typically makes gold more attractive because it offers no interest yield. Fawad Razaqzada, a Global Macro market analyst at FOREX.com, stated that the current US interest rate environment opens the door to policy changes. He believes that with the US annual key interest rate hovering around 2.7%, the Fed's rate cut could occur earlier, even as early as 2026. He also believes that the short-term outlook for gold remains...
World oil prices weakened and headed for a second weekly decline. Market concerns about oversupply are considered greater than potential distribution disruptions. West Texas Intermediate (WTI) crude is trading near US$56 per barrel and has fallen more than 2% this week, while Brent crude closed below US$60 per barrel in trading on Thursday. Several of the world's largest oil traders believe the market will be oversupplied by early next year. Energy trading firm Trafigura even predicts Brent prices will hover around US$50 per barrel until mid-2026, as global supply continues to be...