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...
Silver (XAG/USD) prices extended its gains for the sixth straight day, trading around $29.90 during Asian hours on Friday. Silver prices could find upside support amid safe-haven demand as markets anticipate signals on the US economy under the incoming Trump administration and the Federal Reserve's (Fed) interest rate outlook for 2025 Non-yielding silver gained traction as modest US PCE inflation data challenged expectations of limited Fed rate cuts next year, hinting at the possibility of more cuts. The safe-haven appeal was supported by rising geopolitical risks stemming from the ongoing...
Oil prices fell in sluggish year-end trading, with investors assessing the outlook for 2025 while monitoring developments in the Middle East. Brent crude was steady near $73 a barrel, after falling 0.4% on Thursday, while West Texas Intermediate held below $70 a barrel. A 10-day volatility gauge for the U.S. crude benchmark has fallen to its lowest level since 2021, with the same metric for Brent dropping to its narrowest reading since March. Source: Bloomberg
Gold was steady in quiet post-holiday trade, after mixed U.S. jobless claims data did little to change bets on the Federal Reserve's interest rate cut prospects. Bullion was near $2,633 an ounce, after rising 0.6% on Thursday, following a report showing initial applications for U.S. unemployment benefits rose to their highest in more than three years — suggesting it is taking longer for unemployed people to find work. Initial claims, however, fell. Speaking after the Fed's final policy meeting of 2024, Chairman Jerome Powell last week reiterated that the labor market was cooling in a way...
Oil prices drifted in quiet year-end trading, with investors assessing the outlook for crude for 2025 while tracking developments in the Middle East. West Texas Intermediate was steady above $69 a barrel, after falling 0.7% on Thursday, when Brent also fell. A 10-day volatility gauge for the U.S. crude benchmark has ebbed to its lowest level since 2021. In the Middle East, Israel struck several targets in Yemen that it said were controlled by the Houthis, the last Iran-backed group still fully involved in a regional war that began 14 months ago. Crude prices were on track to end the year...
Gold prices rose on Thursday, driven by safe-haven demand amid light trading volumes following the Christmas holiday, as markets await signals regarding the U.S. economy under the incoming Trump administration and Federal Reserve's rate strategy for 2025. Spot gold rose 0.7% to $2,633.32 per ounce. U.S. gold futures added 0.6% to $2,650.20. "Some of gold's gains had to do with what's going on in Ukraine with Russia hitting Ukraine's electrical system," said Daniel Pavilonis, senior market strategist at RJO Futures. President Joe Biden said on Wednesday he asked the U.S. Defense Department...
Oil held steady after a rally, with stimulus measures in China and a U.S. industry report that signaled another draw in stockpiles in focus. Brent traded below $74 a barrel after rising 1.3% on Tuesday, with West Texas Intermediate nearing $70. In a bid to boost growth, China has given local officials more freedom in how they invest government bond proceeds, while keeping interest rates unchanged for now. Policymakers pledged a "moderately loose" monetary stance in the top crude importer earlier this month. In the U.S., the American Petroleum Institute said commercial crude inventories...
Oil rose as stimulus measures in China may help to bolster demand, and a US industry report flagged another drop in stockpiles. Brent climbed toward $74 a barrel after a 1.3% gain on Tuesday, with West Texas Intermediate above $70. In a bid to bolster growth, China is giving local officials more leeway in how they invest proceeds of government bonds, while keeping interest rates steady for now. Policymakers pledged a "moderately loose" monetary stance in the top crude importer earlier this month. Source: Bloomberg
Gold edges higher in early Asian trade. In the short- and medium-term, prices may experience fluctuations and volatility as there is no overall driving force amid the holidays, analysts at Nanhua Futures write in a note. For now, markets continue to expect the Fed to keep rates on hold in January, they add. Spot gold is 0.2% higher at $2,620.85/oz. Source: Bloomberg
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....