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 prices fell slightly on Thursday (December 11th), as traders weighed the US Federal Reserve's split vote on a quarter-percentage-point interest rate cut, while silver rose to a new record high. Spot gold fell 0.2% to $4,220.09 an ounce, as of 0947 GMT. US gold futures for February delivery rose 0.5% to $4,247.50 an ounce. "It's just overpositioning (in gold) in anticipation of a rate cut, which did happen, and so you're seeing some selling pressure," said independent analyst Ross Norman, adding that gold's fundamentals remain intact. The Fed cut interest rates by a quarter-percentage...
The US dollar found support on Thursday (December 11) from a broad risk-averse market mood, but failed to recover overnight losses against other currencies such as the euro, yen, and pound sterling after the Federal Reserve offered a less aggressive outlook than some had expected. Investors in Asia sold riskier assets such as stocks and cryptocurrencies after disappointing earnings from US cloud computing giant Oracle rekindled concerns that soaring AI infrastructure costs could outpace profitability. This helped stem the decline in the safe-haven US dollar, which initially faced selling...
Gold (XAU/USD) maintains its offered tone below the weekly high touched earlier this Thursday, though it manages to defend the $4,200 mark heading into the European session. The US Dollar (USD) stalls its post-FOMC decline and stages a modest recovery from its lowest level since October 24. This, along with the underlying bullish sentiment, turns out to be a key factor exerting some downward pressure on the precious metal. However, the Federal Reserve's (Fed) dovish outlook might keep a lid on any meaningful USD appreciation and act as a tailwind for the non-yielding Gold. Apart from this,...
The U.S. dollar fell against major peers including the euro, Swiss franc, and Japanese yen on Wednesday after the Federal Reserve lowered interest rates in a widely-expected move, but indicated it will likely pause its easing cycle at the next policy meeting in January. The greenback was further weighed down by comments Fed Chair Jerome Powell in a press briefing after the rate decision, saying that the U.S. central bank's next move is unlikely to be a rate hike. He added that a rate increase is not the base case reflected in new projections from policymakers. The Fed's decision to lower...
Oil extended an advance after the US seizure of a sanctioned tanker off Venezuela heightened geopolitical concerns. West Texas Intermediate rose to near $59 a barrel after advancing as much as 1.4% on Wednesday. Brent crude closed above $62. US forces intercepted and seized the very large crude carrier in a move that will likely deter others from shipping crude from OPEC member Venezuela. Meanwhile, Ukraine attacked a shadow-fleet tanker linked to Russia's oil trade, even as the US pushes for a ceasefire. The increased geopolitical tensions come against a...
Gold prices consolidated at the start of the Asian session at around $4,228/oz as the market still digested the latest FOMC decision. The Fed cut interest rates, but at the same time signaled that it was unwilling to promise an aggressive easing path next year. For market participants, this was a unique combination: on the one hand, there was support from lower interest rates, on the other, a "strong warning" that the next cut would not be automatic and could be slower than expected. In theory, a Fed rate cut eases short-term financial conditions: borrowing costs are cheaper, bond yields...
Gold prices soared immediately after the Federal Reserve announced its interest rate decision. As soon as the FOMC minutes were released, gold, which had been moving cautiously since the beginning of the session, suddenly rose sharply as the market read signals that the era of high interest rates was nearing its end. Within minutes of the announcement, gold prices surged and held steady near their daily highs as new buying inflows from market participants. Generally speaking, the Fed did cut interest rates as expected, but what triggered the gold surge was Jerome Powell's statement, which...
Gold (XAU/USD) holds firm on Wednesday, with price action contained inside the recent consolidation zone as markets brace for the Federal Reserve's (Fed) interest rate decision. At the time of writing, XAU/USD is hovering near $4,204, down from the intraday high of $4,218. The Fed will announce its policy decision at 19:00 GMT, with markets leaning toward another 25 basis point cut that would lower the Federal Funds Rate to the 3.50%-3.75% range. Expectations for reduced borrowing costs keep Bullion broadly supported, as lower interest rates reduce the opportunity cost of holding...
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....