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 Wednesday (December 10th) as investors awaited expectations of a US Federal Reserve interest rate cut and hints about future policy, while silver extended its rally to a new high. Spot gold prices fell 0.4% to $4,193.60 per ounce at 11:13 GMT. US gold futures for February delivery fell 0.3% to $4,221.60 per ounce. Spot silver prices rose 0.7% to $61.11/ounce after hitting an all-time high of $61.61 earlier in the session, driven by rising industrial demand, declining inventories, and its designation as an essential mineral by the United States. The white metal...
Oil prices were steady on Wednesday (December 10) as investors monitored progress in Russia-Ukraine peace talks and awaited a decision on US interest rates. After a decline of about 1% in the previous session, Brent crude rose 7 cents, or 0.1%, to $62.01 a barrel at 10:39 GMT, while US West Texas Intermediate crude rose 10 cents, or 0.2%, to $58.35. Market sources citing API figures said on Tuesday that US crude inventories fell by 4.78 million barrels last week, while gasoline inventories rose by 7 million barrels and distillate inventories swelled by 1.03 million barrels. Government data...
Silver prices surged past $60 an ounce as traders factored in an imminent Fed rate cut and tightening supply conditions, reinforcing the precious metal's historical tendency to outperform gold during monetary policy easing cycles, ING commodity experts Ewa Manthey and Warren Patterson note. Fed rate cut expectations and tight supply drive silver's outperformance "Silver prices surged above $60 an ounce – a new record high – in Tuesday afternoon trading. This was driven by expectations that the Federal Reserve will cut interest rates this week and concerns over tightening supply....
The Bloomberg Dollar Index is flat after previously rising slightly by around 0.1%. This slight gain came after US Department of Labor data showed that job openings in October rose to a five-month high. Market participants are now adopting a wait-and-see approach ahead of the Fed's decision, while assessing the direction of interest rate policy next year. This Wednesday, the market expects the Fed to cut interest rates for the third consecutive time. However, the main focus is not just on whether to cut or not, but rather on the latest dot plot, economic projections, and Jerome Powell's...
Silver prices are strengthening after breaking through the $60 per ounce level for the first time. On Wednesday morning, silver briefly reached a record high of around $60.92 per ounce, continuing its 4.3% surge in the previous session. This rapid rise has led many market players to increasingly look to silver as a leading asset amidst sentiment regarding interest rate easing. From a fundamental perspective, silver's rally is largely supported by expectations that the Federal Reserve will cut its benchmark interest rate by another 0.25% at the conclusion of its December 9-10 meeting. Lower...
Japanese stocks are higher due to a weaker yen despite continued uncertainty over the U.S. interest rate outlook next year. Auto, brokerage and metals stocks are leading gains. Honda Motor is up 4.8%, Nomura Holdings is 2.4% higher and Mitsui Kinzoku is up 5.4%. USD/JPY is at 156.81, up from 156.08 as of Tuesday's Tokyo stock market close. Investors are closely watching any progress in Prime Minister Sanae Takaichi's measures to support the economy ahead of the Bank of Japan's policy meeting next week. The Nikkei Stock Average is up 0.9% at 51106.23. Source: Bloomberg
Gold prices strengthened slightly in the early Asian session ahead of today's FOMC meeting results. Spot gold rose around 0.1% to around $4,210.85 per troy ounce, with investors opting for caution while awaiting the Fed's decision, which could trigger a new direction for the precious metal. Generally, the market has already expected a 25 basis point interest rate cut, so the main focus is no longer on the figure, but on the latest economic projections and the communication style of Fed Chairman Jerome Powell. Analyst Daniel Takieddine of Sky Links Capital Group believes that Powell's...
Oil held the biggest two-day drop in a month as concerns about global oversupply continued to weigh on sentiment. West Texas Intermediate rose above $58 a barrel after losing 3% over the previous two sessions, while Brent crude closed near $62. The US said domestic crude production would hit a record high 13.6 million barrels a day this year, adding to a flood of supply hitting the global market. "Whether it's a glut or a super-glut, it's kind of hard to get away from," Saad Rahim, the chief economist of global commodities trader Trafigura Group, said on...
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....