Silver prices (XAG/USD) reversed their decline on Wednesday (January 7th) after three sessions of surges. Silver fell around 2.5% to around US$79.27 per troy ounce in the latest trading session, marking a "cooling off" phase after briefly approaching record levels. This decline was primarily driven by profit-taking. After a rapid rally in recent days, many market participants opted to lock in profits—especially ahead of a series of US economic data that typically triggers significant volatility in precious metals. Additional pressure came from the strengthening US dollar. The dollar index...
Oil prices weakened again on Wednesday after the market digested US President Donald Trump's statement regarding a deal to import Venezuelan crude oil to the United States. The main sentiment was the potential for increased supply to the world's largest oil consumer, at a time when the market was already sensitive to oversupply concerns. In the latest trading session, Brent fell around 1% to $60.09 per barrel, while WTI weakened 1.37% to $56.35 per barrel. This decline extended the weakness from the previous session, when the market increasingly leaned toward the "loose supply" narrative...
Gold prices fell as market participants began to ignore geopolitical escalation and instead focused on a busy slate of US economic data this week. Gold weakened after rallying more than 4% in the last three sessions, now hovering near the $4,455/oz area. On the geopolitical front, tensions remain high: President Donald Trump said Venezuela would hand over 50 million barrels of oil to the US, while the White House also ruled out the use of force to control Greenland. In Asia, China imposed export controls to Japan on goods potentially used for military purposes. However, instead of...