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...
The silver market remains firmly focused on the fundamentals that support today's high prices. Despite some corrections in recent days, the underlying structure of the silver market remains tight due to limited supply and continued rising demand from the industrial and investment sectors. Global physical silver stocks are expected to dwindle as new production is unable to grow rapidly, while demand from various industries remains strong. One of the main reasons for silver's price movements is massive industrial demand. Silver is essential for the manufacture of solar panels, electric...
World oil prices fell sharply again after traders began considering the possibility of an end to the Russia-Ukraine war. West Texas Intermediate (WTI) crude was trading near $57 per barrel, after previously falling around 2% from the previous day's closing level. Meanwhile, Brent was also below $61 per barrel, reflecting a more cautious market sentiment. Market participants believe that an end to the war could reopen Russian oil exports, which have been restricted by sanctions. This development comes after allies the US and Ukraine reportedly reached an agreement on a security guarantee...
The global gold price remains stable at around $4,500 per ounce after three consecutive days of sharp gains. Traders are now more focused on US economic data due this week, rather than the geopolitical tensions heating up in several parts of the world. This price adjustment indicates investors remain cautious, awaiting the latest information that could impact the market. News of the arrest of the Venezuelan leader, as well as comments from the White House about the possible use of military force in various regions, has heightened global tensions. Even tensions between China and Japan over...
Government officials in Caracas and Washington are discussing exporting Venezuelan crude to refiners in the United States, five government, industry and shipping sources told Reuters on Tuesday, a deal that could divert supplies away from China while helping state company PDVSA avoid deeper output cuts. Venezuela has millions of barrels of oil loaded on tankers and in storage tanks that it has been unable to ship due to a blockade on exports imposed by U.S. President Donald Trump since mid-December. The blockade was part of rising U.S. pressure on the government of Venezuelan President...
Gold price (XAU/USD) rallies on Tuesday for the fourth straight day, shy of reclaiming the $4,500 figure even though US Treasury yields rise along with the Greenback, which is also gaining 0.20%. At the time of writing, XAU/USD trades at $4,487, up nearly 1%. Bullion extends gains as Venezuela tensions fuel haven demand despite firmer yields and US Dollar strength. Precious metals traders continued to push Gold and Silver toward record high levels amid geopolitical uncertainty. The capture of the Venezuelan President Nicolas Maduro and US President Donald Trump's verbal threats of...
The dollar index edged up to 98.5 on Tuesday, its strongest level in more than two weeks, as investors focused on a slate of key economic data for the US. Recent indicators have pointed to some softening in economic momentum. The ISM Manufacturing PMI came in below forecasts, signalling the sharpest contraction in the factory sector since 2024, while the S&P Global Services PMI was revised lower, indicating further weakness in the services sector. Meanwhile, Richmond Fed President Barkin said that monetary policy will require "finely tuned judgments" going forward, while Governor Miran...
Silver rose to around $79 per ounce on Tuesday, marking a third consecutive session of gains and moving toward record levels. The US attack on Venezuela and the capture of President Nicolas Maduro added a new layer of geopolitical risk, supporting demand for safe-haven metals. Reports also indicated that President Donald Trump threatened a second military action if Venezuela's interim president, Delcy Rodriguez, did not comply with US demands. Investors further digested weaker-than-expected US manufacturing data and dovish comments from a key Federal Reserve official regarding labor market...
Gold prices edged up on Tuesday (January 6), hitting a one-week peak and nearing a record high, with demand for safe havens driven by geopolitical tensions surrounding the US arrest of Venezuela's president and expectations of a US interest rate cut. Spot gold prices rose 0.3% to $4,461.09 an ounce, as of 11:35 GMT, after rising nearly 3% in the previous session. Bullion hit a record high of $4,549.71 on December 26, ending the year with a 64% gain, its best annual performance since 1979. US gold futures for February delivery rose 0.3% to $4,462.60. "Gold prices were supported by rising...
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....