Global benchmark Brent crude oil settled 1% higher on Monday, as concerns mounted that intensifying airstrikes in Russia and Ukraine could lead to supply disruptions, and as a weaker dollar lent additional support. Brent crude futures settled up 67 cents, or 1%, at $68.15 a barrel. The U.S. benchmark, the West Texas Intermediate futures contract , was up 67 cents, or 1.1% at $64.68 by 2:15 p.m. ET. There will be no settlement for WTI futures on Monday due to Labor Day holiday in the U.S. Trading volume for both Brent and WTI was also muted due to that reason. Ukrainian President Volodymyr...
Gold price (XAU/USD) sticks to modest intraday gains near a two-day high, above the $2,650 level, through the first half of the European session as geopolitical risks and US President-elect Donald Trump's tariff plans drive haven flows for the second straight day. Furthermore, sliding US Treasury bond yields keep the US Dollar (USD) depressed near the weekly trough and assist the commodity in building on the overnight bounce from the $2,600 neighborhood, or a one-week low. Apart from this, a weaker tone around the European equity markets turns out to be another factor that benefits the...
Silver (XAG/USD) prices remained stable near $30.50 per troy ounce during Asian trading hours on Wednesday (11/27). Daily chart analysis suggests a possible shift in momentum from bearish to bullish as the currency pair has been moving down along the upper boundary of a descending channel pattern. However, the 14-day Relative Strength Index (RSI) is currently below the 50 level, indicating a prevailing bearish sentiment. Furthermore, the XAG/USD currency pair remains below the 14- and nine-day Exponential Moving Averages (EMA), which signal a bearish outlook and indicate weakening...
Gold prices were steady on Wednesday (11/27) during the Asian trading session, boosted by a ceasefire agreement in the Middle East that weakened demand for safe haven assets, and investors awaited US economic data that would provide clues on the Federal Reserve's interest rate path. Gold prices are still up more than 25% this year on US monetary policy easing and rising geopolitical risks, but have been hit by a stronger dollar this month following Donald Trump's election victory. Source: newsmaker.id
Silver (XAG/USD) prices bounced around the $30.40 level on Tuesday, after falling sharply in the previous session. The white metal gained ground temporarily as the US Dollar (USD) weakened. However, its outlook has weakened as its safe-haven demand has weakened due to a potential de-escalation in the war between Israel and Iran. Israeli Ambassador Mike Herzog told on Israeli Army Radio that a ceasefire deal to end fighting between Israel and Lebanon-based Hezbollah fighters could be reached "within days", AlJazeera reported. Potential truce talks have diminished safe-haven demand for...
Silver prices were stable in the $30 area during the Asian trading session on Tuesday (11/26). The decline occurred after US President-elect Donald Trump nominated hedge fund manager Scott Bessent as Treasury Secretary, which reduced market uncertainty. Silver is currently trading at $30,360. In addition, reports that Israel and Hezbollah are close to reaching a ceasefire agreement are also other factors that have reduced demand for safe haven assets. Source: newsmaker.id
Gold fell as the dollar surged after President-elect Donald Trump threatened 25% tariffs on Canadian and Mexican imports. Bullion was trading near $2,620 an ounce after dropping 3.4% in the previous session as easing Middle East tensions dampened demand for safe-haven assets. Spot gold fell 0.1% to $2,621.45 an ounce at 8:29 a.m. in Singapore after dropping as much as 0.8% earlier. Source: newsmaker.id
Silver prices dropped 1% to around $30.70 per ounce on Monday, giving back gains from the previous week and following a decline in gold prices as safe-haven demand for precious metals waned. The pullback came after US President-elect Donald Trump nominated hedge fund manager Scott Bessent as Treasury Secretary, reducing some market uncertainty. Bessent has signaled his support for Trump's tariff and tax cut plans, but markets expect him to prioritize economic and market stability over implementing sudden policy changes. Additionally, media reports indicated that Israel and Hezbollah,...
Gold price (XAU/USD) maintains its heavily offered tone through the first half of the European session on Monday. Scott Bessent's nomination as US Treasury Secretary clears a major point of uncertainty for markets. This, along with reports that Israel was close to reaching a ceasefire with the military group Hezbollah in Lebanon, boosts investors' confidence and turns out to be a key factor undermining demand for the safe-haven precious metal. Moreover, expectations that US President-elect Donald Trump's proposed policies could reignite inflation and limit the scope for the Federal...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....