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...
Oil prices were steady on Monday after a weekly gain as the U.S. signaled tighter sanctions on Russian crude and Chinese authorities vowed to shore up the country's economy. Brent crude traded above $74 a barrel after rising nearly 5% last week, while West Texas Intermediate crude neared $71. The U.S. and its allies could consider lowering the price cap on Russian crude to further limit Moscow's ability to fund its war in Ukraine, Treasury Secretary Janet Yellen said in an interview with Reuters. Crude has been stuck in a tight range since mid-October, with geopolitical concerns tempered...
Gold edged up in early Asian trade on Monday (12/16). Investors are focused on this week's Federal Reserve meeting, Pepperstone's Quasar Elizundia wrote in an email. While markets are expecting a 25 bps rate cut, the Fed's economic projections and the ‘dot plot' could provide more clarity on the outlook for monetary policy in 2025, Elizundia said. Gold faces a challenging medium-term outlook with its price action closely tied to expectations for monetary policy and its impact on bond yields. The ability of central banks to manage inflation will be critical in shaping gold's future...
Oil prices climbed about 2% on Friday to settle at a three-week high, on expectations that additional sanctions on Russia and Iran could tighten supplies and that lower interest rates in Europe and the U.S. could boost fuel demand. Brent futures rose $1.08, or 1.5%, to settle at $74.49 a barrel. U.S. West Texas Intermediate crude rose $1.27, or 1.8%, to settle at $71.29. That was Brent's highest close since Nov. 22 and put the contract up 5% for the week. WTI posted a 6% gain for the week and closed at its highest since Nov. 7. Source: Reuters
Gold prices fell on Friday after bullion hit a more than five-week high in the previous session and as the U.S. dollar gained, but prices were on track for a weekly rise on expectations of a Federal Reserve rate cut next week. Spot gold was down 0.8% at $2,658.89 per ounce, as the U.S. dollar hovered near its highest in more than two weeks. Bullion hit its highest since Nov. 6 on Thursday, and has risen nearly 1% so far for the week. U.S. gold futures fell 1.1% to $2,678.50. Underpinned by easing monetary policies, robust central bank buying, and safe-haven demand, gold has shattered...
Gold (XAU/USD) has given away earlier gains and is trading lower for the second consecutive day during Friday's European session. The US Dollar (USD) maintains its bullish tone, supported by rising US Treasury yields, which keeps the precious metal under pressure. Recent US data is showing a resilient US economy with inflation picking up. Donald Trump's high tariffs for imports and restricted immigration are expected to lift consumer prices, forcing the Federal Reserve (Fed) to approach cautiously with monetary easing next year. Most of the major central banks, in contrast, are expected to...
Oil prices nudged upwards on Friday, heading for their first weekly rise since the end of November, as additional sanctions on Iran and Russia ratcheted up supply worries, while a surplus outlook weighed on markets. Brent crude futures edged up 5 cents to $73.46 a barrel by 0716 GMT, while U.S. West Texas Intermediate crude was up 8 cents at $70.1 a barrel. Both contracts are on track for a weekly gain of more than 3% as concerns about supply disruption from tighter sanctions on Russia and Iran, and hopes that Chinese stimulus measures could lift demand in the world's No. 2 oil consumer...
Silver (XAG/USD) prices extended its decline for the second session, trading around $30.90 per troy ounce during Asian hours on Friday (12/13). The daily chart analysis shows a shift in momentum to bearish from bullish bias as the pair has broken below an ascending channel pattern. The XAG/USD pair is moving below the nine- and 14-day Exponential Moving Averages (EMAs), indicating a continued bearish outlook and signaling weakening near-term price momentum. This suggests increasing selling interest and increases the likelihood of further price depreciation. Additionally, the 14-day...
Gold rose above $2,680 on Friday, recovering slightly from a more than 1% drop in the previous session, as investors continued to assess the latest economic data. U.S. factory-rate prices rose more than expected in November, fueling concerns that inflation may remain above the Federal Reserve's target into next year. However, initial jobless claims unexpectedly jumped to a nearly two-month high, far surpassing forecasts, underscoring the risk of a weakening labor market. Markets still largely expect a 25bps hike by the Fed next week and are pricing in further rate cuts next year, although...
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....