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 rose in early Asian trade after the Fed warned of economic uncertainty due to tariffs. The precious metal tends to perform well during periods of economic uncertainty. However, price gains may be capped by expectations of a meeting between U.S. and Chinese officials in Switzerland on Thursday. BofA Global Research's supply/demand model suggests gold could comfortably trade above $3,000/oz, but not above $3,500/oz for now, especially if the trade dispute eases, the Global Commodity Research team said in a note. Spot gold rose 0.2% to $3,373.34/oz. (Newsmaker23) Source: Dow Jones Newswires
Oil continued to fall ahead of trade talks between the US and China, with comments from President Donald Trump highlighting the difficult path officials face to reach a possible deal. West Texas Intermediate crude futures were trading near $58 a barrel after falling 1.7% in the previous session. Brent crude futures settled above $61. Trump said Wednesday he was not willing to roll back tariffs on China first to jump-start planned negotiations. The officials are set to meet in Switzerland this week for talks. Crude prices have been on a tear recently on concerns about the potential hit to...
Gold prices fell more than 1% on Wednesday, pressured by a firmer dollar and U.S.-China trade talks optimism, while the Federal Reserve held interest rates steady. Spot gold slipped 1.1% to $3,390.26 an ounce. U.S. gold futures lost 0.7% to $3,399.1. The U.S. dollar gained 0.2% against other fiat currencies. A stronger dollar makes gold more expensive for other currency holders. The Fed held interest rates steady on Wednesday afternoon. The U.S. central bank stuck to comments it had made in the past that it was in no hurry to cut rates, but indicated in a post-meeting statement that it...
Oil prices fell by more than $1 a barrel on Wednesday as investors doubted that upcoming U.S.-China trade talks will result in a breakthrough, while hopes for an Iran-U.S. nuclear deal eased supply worries. Brent crude futures settled $1.03, or 1.66%, lower at $61.12 a barrel while U.S. West Texas Intermediate crude lost $1.02, or 1.73%, lower at $58.07 a barrel. The U.S. and China are due to meet in Switzerland, which could be the first step toward resolving a trade war disrupting the global economy. The trade talks between the world's two largest economies come after weeks of escalating...
Gold price remains on the back foot after the Federal Reserve (Fed) kept interest rates unchanged. XAU/USD trades at $3,394, down over 1%, as traders brace for Fed Chair Jerome Powell's press conference. XAU/USD down over 1% to $3,394 as traders await Powell's press conference following cautious Fed toneThe Federal Reserve held rates at the 4.25%-4.50% range unanimously, as expected, and mentioned that uncertainty about the economic outlook has increased further, adding that the risks of higher unemployment and inflation have risen. Fed officials added that the economy remains expanding at...
The Federal Reserve (Fed) left its benchmark interest rate unchanged at 4.5%, in line with expectations, but struck a more cautious tone in its policy statement. While noting that the labor market remains solid and economic activity continues at a steady pace, the Fed acknowledged that inflation is still "somewhat elevated" and that both inflation and unemployment risks have risen. The Committee reaffirmed its commitment to data-dependence and reiterated that policy adjustments remain on the table should downside risks materialize. Balance sheet reduction will continue at the current...
The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, trades broadly flat on Wednesday at around 99.40 after printing a fresh five-day low on Tuesday and looks to be on pause for now. Traders are meanwhile assessing news about progress between China and the US regarding trade talks and brace for the Federal Reserve (Fed) interest-rate decision later this Wednesday. Not much is expected from this rate decision as markets almost fully price in that the Fed will keep rates stable despite pressure from US President Donald Trump to cut...
Gold prices fell more than 1% on Wednesday as hopes around trade talks between the United States and China weighed on the safe-haven metal ahead of a Federal Reserve rates decision later in the day. Spot gold was down 1.2% at $3,388.49 an ounce as of 1141 GMT, after a sharp rise in the previous session. "Late yesterday, reports emerged of a potential meeting between U.S. and Chinese officials this week, which could bolster sentiment if confirmed by Chinese and U.S. authorities," said Zain Vawda, analyst at MarketPulse by OANDA. U.S. Treasury Secretary Scott Bessent and chief trade...
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....