Gold prices briefly caused a stir after hitting a new record, but then slowed. The main trigger: US President Donald Trump withheld the threat of tariffs on Europe and claimed there was a "framework" for a future agreement on Greenland. This calmer tone made the market a little more willing to take risks, thus easing the pressure to buy gold as a safe haven. However, the big picture hasn't changed: gold remains in high territory because the world remains filled with uncertainty. Trade wars could resurface at any time, geopolitical tensions haven't completely subsided, and investors are...
The Japanese yen exchange rate fell to around 155.7 per US dollar on Tuesday (December 2nd) after strengthening for three sessions. This weakening occurred because many traders chose to take profits from the previous rally. Previously, the yen had strengthened due to growing speculation that the Bank of Japan (BOJ) could raise interest rates in the near future, signaling a possible change in its monetary policy direction. Finance Minister Satsuki Katayama said that the government and the BOJ share a similar economic outlook. He also emphasized the importance of close coordination between...
Silver retreated from a record high, with a key technical indicator showing that a six-day rally has taken it into overbought territory. Gold also edged down. The white metal fell as much as 2.4% to around two dollars below the all-time peak reached in the previous session. Traders have been betting on continued supply tightness and expectations for another interest-rate cut in the US, a tailwind for non-yielding precious metals. The 14-day relative strength index, however, showed that this recent speculative fervor may have gone too far, too fast. A reading of above 70 shows that the...
Oil prices were steady in Asian trading on Tuesday, holding on to gains from the previous session as OPEC+ reaffirmed it will pause production increases in the first quarter, while traders continued to assess supply risks stemming from geopolitical tensions. As of 21:18 ET (02:18 GMT), Brent Oil Futures expiring in February edged up 0.1% to $63.23 per barrel, while West Texas Intermediate (WTI) crude futures gained 0.2% to $59.42 per barrel. Both contracts jumped over 1% on Monday after OPEC+ ministers on Sunday confirmed the group would hold output steady through the first quarter of 2026...
Gold prices weakened slightly in early Asian trading. Spot gold fell around 0.2% to around $4,223.40 per troy ounce. This movement follows a previous rally, and the market is now more cautious while awaiting signals on the direction of interest rate policy from the US central bank, the Federal Reserve (The Fed). In a note, Sucden Financial assessed that gold and silver movements will remain highly sensitive to indications of whether the Fed will cut interest rates. If interest rate cuts do indeed proceed, this is usually a supportive factor for precious metals because yields on...
Silver prices are currently stable and remain about a dollar away from their record high. The white metal is trading around $57.90 per ounce, after surging more than 8% in just the last two sessions. This surge occurred amid trader speculation that silver supplies would tighten, thus driving demand and keeping prices high. In October, a large influx of silver flowed into London to relieve market pressure, but this actually put pressure on other trading centers. Silver inventories linked to warehouses at the Shanghai Futures Exchange even fell to their lowest level in a decade. This...
Global oil prices remain strong as market participants await US President Donald Trump's next move on Venezuela. West Texas Intermediate (WTI) held steady above $59 per barrel after previously rising 1.3%, while Brent hovered near $63 per barrel. Market sensitivity grew after Trump held a meeting on Venezuela on Monday night, as US troops reportedly massed in the region and pressure on Nicolas Maduro's government intensified. This escalating situation has made the market cautious and added a risk premium to oil prices. These geopolitical concerns partly overshadow other concerns about the...
Oil prices rose more than 1% on Monday (December 1st) following a drone attack by Ukraine, the closure of Venezuelan airspace by the United States, and OPEC's decision to leave production levels unchanged for the first quarter of 2026. Brent crude closed at $63.17 per barrel, up 79 cents, or 1.27%. U.S. West Texas Intermediate crude closed at $59.32 per barrel, up 77 cents, or 1.32%. "The market is very nervous right now about the possible loss of Russian crude oil supplies," said John Kilduff, partner at Again Capital LLC. "They're watching closely to see if this Russia-Ukraine deal will...
Gold (XAU/USD) continued its rally for the second consecutive trading session on Monday (December 1), rising more than 0.40% as currency markets anticipate a Federal Reserve (Fed) interest rate cut next week. Meanwhile, a weaker US dollar kept the yellow metal hovering around $4,240 at the time of writing, having reached a five-week high of $4,264. Gold bullion remains strong despite the risk of BoJ tightening and weakening physical demand in China. The yellow metal remains bullish, but central bank tightening, particularly from the Bank of Japan (BoJ) following comments by Governor Kazuo...
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....