Silver (XAG/USD) price continued its uptrend for the fourth straight session, trading near $32.30 per troy ounce during the Asian trading hours on Thursday (February 6). Technical analysis on the daily chart highlights a strong bullish bias, with the price maintaining its upward trajectory within an ascending channel. The XAG/USD pair remains above the nine-day and 14-day Exponential Moving Averages (EMA), indicating solid near-term momentum. Moreover, the 14-day Relative Strength Index (RSI) is nearing the 70 level, which reinforces the bullish sentiment. A break above the 70 level could...
Oil prices edged up in Asian trade on Thursday after Saudi Arabia's state oil company sharply raised March crude prices, but the gains were small compared with the biggest drop in benchmark Brent crude in nearly three months the previous day. Brent crude was up 8 cents at $74.69 a barrel by 0422 GMT. U.S. West Texas Intermediate crude was up 15 cents at $71.18 a barrel. Oil prices had fallen more than 2% on Wednesday as a big build in U.S. crude and gasoline inventories signaled weaker demand, and as investors weighed the implications of a new round of U.S.-China trade tariffs, including...
Gold futures tick lower, but keep near record highs. Futures slide 0.4% to $2,881.30 a troy ounce, after hitting a fresh record of $2,906 in the prior session. Gold's bull market looks set to continue under the Trump administration, with trade wars and geopolitical tensions reinforcing trends toward central bank reserve diversification and de-dollarization, Citi analysts say. Support from emerging market central bank gold demand and global growth concerns should raise both ETF and physical gold demand, they say in a note. A Russia-Ukraine peace deal, and clarity around whether gold will be...