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...
Silver extended gains to 13-year highs and platinum reached the highest since early 2022, signaling growing investor appetite for precious metals used in key industries. Spot prices for both metals continued to rally on Friday after spikes of more than 4% in the previous session. Gold edged higher at a slower pace. The metals were aided by technical momentum as well as improving fundamentals, with a strong appetite for physical silver in India and resurgent Chinese platinum demand reinforcing the rallies, according to a note by Nicky Shiels, head of metals...
Oil prices remained steadfastly glued to $65 a barrel, as they have been for more than three weeks, with easing trade tensions helping offset concerns about a brewing supply glut later this year. Brent inched lower, but held on to most of its gains from Thursday and was on track for its first weekly increase since mid-May. President Donald Trump and his Chinese counterpart, Xi Jinping, agreed to further trade talks over tariffs and supplies of rare earth minerals. The positive signals come against the backdrop of an oil market that has been increasingly rangebound over...
Gold prices rose on Friday and were headed for a positive week as haven demand was underpinned by uncertainty over U.S. trade policy and caution before a key U.S. payrolls reading. Bullion, along with broader metal prices, also benefited from a softer dollar, which languished near two-year lows amid few positive cues over the U.S. economy. A sharp sell-down on Wall Street, which was triggered by an escalated, public feud between President Donald Trump and billionaire Elon Musk, also boosted risk appetite. Spot gold rose 0.5% to $3,368.86 an ounce, while gold futures for August rose 0.5%...
The AUD/USD pair is trading around 0.6510 on Friday. The Australian Dollar (AUD) declines against the US Dollar (USD). The AUD/USD pair may remain stable amid market caution, as traders await the upcoming US Nonfarm Payrolls (NFP) report, due later in the day, seeking fresh insights into the United States (US) economy. Market sentiment improved following a productive phone call between US President Donald Trump and Chinese President Xi Jinping. Trump expressed that the call was productive and prepared to continue tariff negotiations. However, Trump and his team struggled to stay composed...
Silver held near a 13-year high, supported by a technical breakout that also drove platinum to the highest level since 2022, signaling growing investor appetite for precious metals used by the industrial sector. Spot silver rose as much as 4.5% on Thursday to $36.06 an ounce — the highest since February 2012 — while platinum surged 4.8% to above $1,146 an ounce. Prices on Friday held close to those peaks. The metals were aided by technical momentum across the metals complex as well as improving fundamentals, with strong appetite for physical silver in India and resurgent...
Gold edges higher in the early Asian session amid weak U.S. economic data and signs of easing U.S.-China tensions. Thursday's data, showing rising jobless claims and a sharp decline in imports, raised the prospect of slowing economic growth. Meanwhile, President Trump said his conversation with Chinese leader Xi Jinping was productive and both sides agreed to meet soon. Investors could remain cautious ahead of tonight's U.S. nonfarm payrolls report, Kudotrade's Konstantinos Chrysikos says. "A strong reading could challenge the current rate-cut narrative and weigh on gold, while any...
EUR/USD held onto earlier gains of more than 0.20% after the European Central Bank (ECB) made headlines, cutting interest rates but leaving open the possibility of a pause at its upcoming July 24 meeting. At the time of writing, the pair was trading at 1.1441 after bouncing off a daily low of 1.1404. The ECB decided to cut interest rates to 2%, as expected by market participants, although it had left open the possibility of a pause. The decision was not unanimous, with one dissenter, most likely Robert Holzmann, who, ahead of the meeting, had favored a cut after the June or July...
Oil prices rose on Thursday, recovering from the previous day's decline, on news that the US and China agreed to further trade talks after a phone call between US President Donald Trump and Chinese leader Xi Jinping. Brent crude futures were up 48 cents, or 0.7%, at $65.34 a barrel. US West Texas Intermediate crude futures were up 52 cents, or 0.8%, at $63.37 a barrel. "If we move away from the brink of a major trade war, that would raise expectations for oil demand both in the US and China," said Phil Flynn, senior analyst at Price Futures Group. The official Xinhua news agency reported...
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....