Gold prices hovered near an all-time high on Wednesday, buoyed by expectations of a U.S. interest rate cut this month, while market participants awaited U.S. inflation data for clues on the Federal Reserve's monetary policy path. Spot gold was up 0.5% at $3,643.78 per ounce, as of 0821 GMT, after hitting a record high of $3,673.95 on Tuesday. U.S. gold futures for December delivery were flat at $3,682.30. "Gold's gains come on the back of expectations of Fed rate cuts, supported by signs of cooling in the U.S. labour market, which have weakened the dollar," Ricardo Evangelista, senior...
Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data. Silver trades at $30.09 per troy ounce, up 0.64% from the $29.90 it cost on Tuesday. Silver prices have increased by 4.13% since the beginning of the year. Source: FXstreet
Silver prices held steady near $30 an ounce on Wednesday as investors awaited a key US inflation report that could influence the Federal Reserve's interest rate decision later this month. Earlier this week, silver faced downward pressure as stronger-than-expected US jobs data dampened expectations for further Fed rate cuts this year. Despite the recent pullback, the metal's value continues to be supported by strong industrial demand, particularly in renewable energy and electronics technologies, as well as ongoing supply concerns. In addition, investors remain hopeful that major consumer...
The Australian Dollar (AUD) held steady on Wednesday after two consecutive days of gains against the US Dollar (USD). The AUD/USD pair benefited from the risk-on market sentiment, supported by strong trade data from China, Beijing's efforts to stabilize the Yuan, and rising commodity prices. Traders are awaiting Australian employment data, scheduled for release later this week, for further insights on the Reserve Bank of Australia's (RBA) policy direction. Investor confidence is growing as US President-elect Donald Trump's economic team considers gradually increasing import tariffs. This...
Gold (XAU/USD) prices reversed an intraday dip to $2,669 area and turned positive for the second straight day on Wednesday, although the upside seemed limited ahead of the US Consumer Price Index (CPI) report. The US Dollar (USD) held near weekly lows touched in reaction to Tuesday's weaker US Producer Price Index (PPI) and turned out to be a key factor lending support to the commodity. Meanwhile, easing concerns over disruptive trade tariffs from US President-elect Donald Trump remained supportive of the risk sentiment – as depicted by a generally positive tone around the equity...
Oil prices were little changed on Wednesday, after falling the previous day, as a dip in U.S. crude stockpiles and expectations of supply disruptions from sanctions on Russian tankers lent support amid forecasts for lower global fuel demand. Brent crude futures were up 2 cents to $79.94 a barrel by 0205 GMT, after dropping 1.4% in the previous session. U.S. West Texas Intermediate crude rose 12 cents, or 0.15%, to $77.62 a barrel after a 1.6% drop. Prices slipped on Tuesday after the U.S. Energy Information Administration predicted oil will be under pressure over the next two years as...
Gold prices fell to around $2,670 an ounce on Wednesday (1/15), reversing gains from the previous session as investors turned cautious ahead of US consumer inflation data due later in the day. Signs of rising inflation could spur a further cautious adjustment to expectations for a Federal Reserve interest rate cut. On Tuesday, the precious metal found some support after a weaker-than-expected US PPI report sparked faint hopes that the Fed may have room for additional rate cuts this year. Meanwhile, with President-elect Donald Trump set to begin his second term next week, attention is also...
Oil prices slipped on Tuesday after a U.S. government agency forecast steady U.S. oil demand in 2025 while lifting its forecast for supply. Declines were limited by new U.S. sanctions on Russian oil exports to India and China. Brent futures fell $1.09, or 1.35%, to settle at $79.92 a barrel. U.S. West Texas Intermediate (WTI) crude finished at $77.50 a barrel, down $1.32, or 1.67%. On Monday, prices jumped 2% after the U.S. Treasury Department on Friday imposed sanctions on Gazprom Neft and Surgutneftegas as well as 183 vessels that transport oil as part of Russia's so-called shadow fleet...
Gold edged higher mid-afternoon on Tuesday as the dollar fell after a U.S. inflation measure rose less than expected last month, while a report said the Trump Administration plans to gradually introduce tariffs on U.S. imports. Gold for February delivery was last seen up US$4.70 to US$2,683.30 per ounce. The U.S. Bureau of Labor Statistics reported the Producer Price Index (PPI) rose 0.2% in December from the prior month, under expectations for a monthly rise of 0.3%, according to FactSet. The data comes ahead of Wednesday's release of the U.S. December Consumer Price Index, which is...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
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....