Brent crude rose more than 2% to above $78.50 a barrel on Friday, hitting its highest since October, boosted by a draw in U.S. crude stockpiles. Cold weather in the U.S. reduced inventory levels at Cushing, Oklahoma, to the lowest since 2014. Global oil markets are tight due to reduced supplies from major exporters such as Russia and Iran, as well as a surge in demand for heating fuel. The rise in oil prices is also linked to concerns about U.S. policy under President-elect Donald Trump, including potential sanctions on Iran and a trade conflict that could disrupt energy flows. Trump's...
Silver (XAG/USD) prices rose near $31.30 during the European session on Friday. The white metal strengthened ahead of the United States (US) Nonfarm Payroll (NFP) data for December, due to be released at 13:30 GMT. The labor market data will influence market expectations on whether the Federal Reserve (Fed) will continue its cautious stance on further policy easing. The NFP report is expected to show that the US economy added 160,000 new jobs in December, down from 227,000 in November. The Unemployment Rate is expected to remain steady at 4.2%. Investors will also be watching the Average...
Gold (XAU/USD) price is set to close the week on a high note as it trades for the fourth straight day of gains. The upbeat nonfarm payrolls figure came in at 256,000 jobs, which was very close to the maximum expected gain of 260,000. The figure was enough to stoke further inflation concerns, with markets pricing in a Federal Reserve (Fed) rate cut as early as October 2025, compared to July earlier this week. Source: FXStreet