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 trimmed losses after Kyiv and its European allies rejected key parts of a US-Russia plan to end the war in Ukraine. Bullion prices traded near $4,060 an ounce, heading for a slight weekly loss following a sell-off in equities and cryptocurrencies, and a poor US jobs report that clouded prospects for another Federal Reserve interest rate cut in December. The leaders of Germany, France, and the UK agreed in a phone call with Ukraine's Volodymyr Zelenskiy that Kyiv's armed forces must remain capable of defending its sovereignty. The US has threatened to halt the provision of intelligence...
Gold prices fell more than 1% on Friday (November 21) and are set for a weekly decline after a strong US jobs report dampened expectations of a Federal Reserve rate cut next month, weighing on the non-yielding precious metal. Spot gold fell 0.7% to $4,047.14 an ounce, as of 09:09 GMT, after falling more than 1% earlier in the session. Bullion prices have fallen 0.5% this week. US gold futures for December delivery fell 0.4% to $4,044.50 an ounce. "The prospect of further rate cuts is somewhat tempered by the good labor market data released yesterday. I think that's the main factor"...
Oil prices fell more than 1% on Friday (November 21), extending their decline for a third session as the United States pushes for a Russia-Ukraine peace deal that could boost global supply, while interest rate uncertainty curbs investor risk appetite. Brent crude futures fell 83 cents, or 1.3%, to $62.55 a barrel at 08:45 GMT. U.S. West Texas Intermediate crude fell 1.6%, or 92 cents, to $58.08. Both contracts are expected to decline by about 3% for the week, erasing last week's gains. Market sentiment turned bearish as Washington pushed for a peace plan between Ukraine and Russia to end...
The Japanese yen held steady near 157 per dollar on Friday (November 21st), after previously weakening steadily. The currency began to "put on the brakes" after Finance Minister Satsuki Katayama signaled that the government could intervene if the yen's movements were deemed too wild and speculative. Now, many market participants expect Japanese authorities to step in again if the yen approaches 160 per dollar, in line with previous intervention areas. Despite the temporary halt in its weakening, the yen is still expected to fall nearly 2% in the week and is near a 10-month low. Pressure...
Gold was steady after a mixed US jobs report that offered little fresh incentive for the Federal Reserve to cut interest rates. Bullion was trading around $4,080 an ounce, after dropping marginally in the previous session. The last labor report that the Fed will see before its Dec. 9-10 meeting showed that US job growth beat expectations in September but unemployment marched higher. Many Fed officials are leaning toward keeping interest rates steady, while swap traders see a less-than-50% chance of a reduction next month. Bullion typically underperforms in a higher rate...
Oil pushed lower after Ukrainian President Volodymyr Zelenskiy agreed to work on a peace plan, just as US sanctions on two Russian oil giants are scheduled to take effect on Friday. West Texas Intermediate dropped for a third session toward $58 a barrel, while Brent closed near $63 on Thursday. The plan was drafted by the US and Russia and Zelenskiy expects to talk with President Donald Trump in the coming days. Proposals include Ukraine ceding territory and the removal of sanctions. European diplomats expressed skepticism about any deal, noting that Russian President...
Global gold prices weakened again in tonight's trading after rising in the previous session. The main pressure came from the strengthening US dollar and rising US government bond yields, reducing gold's attractiveness as a non-yielding asset. As the dollar strengthens, the cost of holding gold for investors transacting in other currencies becomes more expensive, prompting some market participants to sell and take profits after the rally in recent weeks. At the same time, market participants were still closely monitoring the US employment data, released after a recent delay. The report...
Gold held steady, halting a two-day rally, as investors tempered expectations of a Federal Reserve interest rate cut next month. Gold bullion traded near $4,070 an ounce, after rising nearly 1% over the previous two sessions. The US will not release its October employment report, leaving Fed policymakers without significant data before their final meeting of the year. Meanwhile, minutes from the October meeting showed many officials said it would likely be appropriate to keep interest rates steady for the remainder of 2025. Gold bullion tends to benefit from lower interest rates because it...
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....