Gold prices fell to around $2,670 an ounce on Wednesday (1/15), reversing gains from the previous session as investors turned cautious ahead of US consumer inflation data due later in the day. Signs of rising inflation could spur a further cautious adjustment to expectations for a Federal Reserve interest rate cut. On Tuesday, the precious metal found some support after a weaker-than-expected US PPI report sparked faint hopes that the Fed may have room for additional rate cuts this year. Meanwhile, with President-elect Donald Trump set to begin his second term next week, attention is also...
Oil prices were little changed on Wednesday, after falling the previous day, as a dip in U.S. crude stockpiles and expectations of supply disruptions from sanctions on Russian tankers lent support amid forecasts for lower global fuel demand. Brent crude futures were up 2 cents to $79.94 a barrel by 0205 GMT, after dropping 1.4% in the previous session. U.S. West Texas Intermediate crude rose 12 cents, or 0.15%, to $77.62 a barrel after a 1.6% drop. Prices slipped on Tuesday after the U.S. Energy Information Administration predicted oil will be under pressure over the next two years as...
Gold (XAU/USD) prices reversed an intraday dip to $2,669 area and turned positive for the second straight day on Wednesday, although the upside seemed limited ahead of the US Consumer Price Index (CPI) report. The US Dollar (USD) held near weekly lows touched in reaction to Tuesday's weaker US Producer Price Index (PPI) and turned out to be a key factor lending support to the commodity. Meanwhile, easing concerns over disruptive trade tariffs from US President-elect Donald Trump remained supportive of the risk sentiment – as depicted by a generally positive tone around the equity...