Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more "noise" than signals of a short-term surplus. As of 3:50 PM WIB, Brent was at $69.60/barrel (+0.29%) and WTI was at $64.83/barrel (+0.31%). The gains were moderate, but enough to keep prices near the psychological $70 level for Brent. From a geopolitical perspective, market focus is on the potential for escalation in the Middle East. Recent reports...
Gold was steady as traders watched for signs the conflict in the Middle East could widen to include the US, while also awaiting an interest-rate decision by the Federal Reserve later in the day. President Donald Trump declined on Wednesday to say whether the US plans to join Israel's military offensive on Iran. He met with his national security team on Tuesday, fueling speculation that the US may join Israel's attack. Ahead of the Fed's rate decision, the latest US data showed jobless claims ticked down last week, stabilizing near the highest levels in...
The Australian Dollar is paring some of Tuesday's losses, favoured by a mildly weaker US Dollar on Wednesday. The pair, however, remains unable to consolidate above 0.6500 with investors cautious amid geopolitical tensions ahead of the US Fed monetary policy decision. The Israel-Iran war reaches its sixth day with Tel Aviv pounding the Islamic Republic tirelessly and the US threatening to get involved after President Trump demanded the unconditional surrender of Tehran´s authorities. Concerns about a widespread regional war and its potential impact on commodity prices and on global...
Oil prices fell on Wednesday, after a gain of 4% in the previous session, as markets weighed up the chance of supply disruptions from the Iran-Israel conflict and as they ponder a direct US involvement. Brent crude futures fell 93 cents, or 1.2%, to $75.52 a barrel by 0918 GMT. U.S. West Texas Intermediate crude futures fell 88 cents, also 1.2%, to $73.96 per barrel. U.S. President Trump warned on social media on Tuesday that U.S. patience was wearing thin, and called for an "unconditional surrender" from Iran. While he said there was no intention to kill Iran's leader Ayatollah Ali...
Gold prices are likely to be supported by central bank purchases, Julius Baer's Carsten Menke says in a research note. Central banks have doubled their average annual purchases to 1,000 tons from 500 tons since the start of the Ukraine war, Menke says. He adds that the main motivations are gold's status as a crisis asset, a portfolio diversifier and a store of value. "While de-dollarization is not a motivation, most central banks still believe that the share of U.S. dollars in their reserves is set to shrink," he says. Spot gold is down 0.15% at $3,384.54/oz. Source : Dow Jones...
Oil prices rose in Asian trade on Wednesday, extending a 4% gain from the previous session amid concerns that the Iran-Israel conflict could disrupt supplies. Brent crude rose 26 cents, or 0.3%, to $76.71 a barrel by 0440 GMT. U.S. West Texas Intermediate crude rose 35 cents, or 0.5%, to $75.19 a barrel. U.S. President Donald Trump on Tuesday called for Iran's "unconditional surrender" as the Iran-Israel air war entered its sixth day. The U.S. military is deploying more warplanes to the region to bolster its forces, three officials said on Tuesday. Analysts said the market is mostly...
Gold prices were flat in Asian trade on Wednesday as investors refrained from placing big bets ahead of the U.S. Federal Reserve's policy decision, while also monitoring developments surrounding the Israel-Iran conflict. Spot gold was flat at $3,388.04 an ounce, as of 0341 GMT. U.S. gold futures were largely unchanged at $3,406.50. "Gold prices fluctuated as investors tracked escalating risks in the Middle East. Lackluster U.S. reports on retail sales, housing and industrial production strengthened the case for the Fed to cut interest rates later this year," analysts at ANZ said in a...
Silver (XAG/USD) is seen consolidating the previous day's strong gains to the highest level since February 2012 and oscillated in a narrow range during the Asian session on Wednesday (6/18). The white metal is currently trading just above the $37.00 round-figure mark and seems poised to extend its recent uptrend from April monthly swing lows. From a technical perspective, the overnight breakout through a short-term descending trend-channel, which constitutes the formation of a bullish flag pattern, and the subsequent up-move validates the constructive outlook. However, a slightly overbought...
The US Dollar Index (DXY), which measures the US Dollar (USD) against a basket of six major currencies, retraced its recent gains and traded around 98.70 during Asian hours on Wednesday (6/18). Markets expect the US Federal Reserve (Fed) to keep interest rates unchanged at its June meeting scheduled for Wednesday. Traders now see a near 80% chance of a Fed rate cut in September, followed by another cut in October, according to Reuters. Traders are likely to closely monitor the Federal Open Market Committee (FOMC) statement on monetary policy, looking for direction going forward amid...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
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....