Oil prices rose again after OPEC+ confirmed plans to temporarily halt production increases during the first quarter. This Saudi Arabia-led decision is considered a response to seasonally weaker market conditions. Brent is now trading above $63 per barrel, while WTI is approaching $60, signaling that the market is beginning to adjust to the new supply policy. This increase comes after oil posted four consecutive monthly declines due to concerns about a supply surplus. The IEA even predicted a record supply glut in 2026, while JPMorgan forecast oil prices could fall to nearly $50 per barrel....
Gold (XAU/USD) traded slightly higher on Monday (November 24th) as investors considered developments in the Federal Reserve's monetary policy outlook alongside improving sentiment on risk assets. At the time of writing, XAU/USD was trading around $4,087, up nearly 0.50% after bouncing off an intraday low near $4,040. Market sentiment remains anchored by renewed expectations for a December interest rate cut after New York Fed President John Williams said on Friday that he still sees room for near-term easing. His remarks helped revive rate cut expectations after a period of waning...
Oil prices fluctuated between gains and losses as traders weighed the prospects for a Ukraine-Russia peace deal that could ease political risks in an already oversupplied market. West Texas Intermediate crude traded near $58, little changed after its biggest weekly loss since early October. Ukraine and its European allies signaled that there were still key points of contention in U.S.-brokered peace talks to end the Russian invasion, although senior officials praised progress in securing more favorable terms for Kyiv. "Something good may be happening," President Donald Trump wrote in a...
The crude market has suffered a volatile year, and Bank of America Global Research expects the price of oil to remain pressured in 2026. The benchmark Brent contract has fallen almost 20% so far in 2025, averaging $69 a barrel, as the U.S. trade war and OPEC+ price war collided. "The high end of the range was $82/bbl first on the back of U.S. sanctions on Russia in January and then as the U.S. struck Iran in June. The low end of the range was $60/bbl in May right before US and China agreed to de-escalate trade measures," said analysts at Bank of America, in a note dated Nov. 23. Looking...
Gold (XAU/USD) recovers slightly from the daily low touched during the early part of the European session and trades with a mild negative bias, just above the $4,060 level, down less than 0.15% for the day. Mixed signals from US Federal Reserve (Fed) officials keep the door open for another interest rate cut in December and prompt some US Dollar (USD) profit-taking after the recent rise to its highest level since late May. This turns out to be a key factor lending some support to the non-yielding yellow metal. Apart from this, geopolitical risks stemming from the intensifying...
Silver stabilized around $50 per ounce on Monday, halting a recent slide as dovish comments from a senior US Federal Reserve official boosted expectations for a rate cut next month. New York Fed President John Williams said Friday that a near term rate reduction remains possible, with labor market weakness posing a greater risk than elevated inflation. Markets now price in roughly a 69% chance of a 25 basis point rate cut in December, up from 44% a week ago. Policymakers, however, remain divided, with Boston Fed President Susan Collins noting she has not yet decided on a policy...
The US Dollar Index (DXY) finally halted its five-day rally and hovered around 100.20 in Asian trading on Monday (November 24th). Market participants are now awaiting the release of US producer price inflation (PPI) data for September, due out next Tuesday, as this data could provide important clues to the Fed's future policy direction. The dollar's weakening occurred after expectations for a Fed rate cut in December rose sharply. The chance of a 25 bps rate cut is now around 69%, much higher than 44% last week. Comments from Fed officials—from John Williams, who said a cut could happen...
Silver prices came under pressure again at the start of the week as global market sentiment remained cautious. Market participants reduced exposure to riskier assets after the global economic outlook was deemed weak, while uncertainty regarding major central bank interest rate policies also curbed buying interest in the precious metal. Silver, which typically moves in the direction of gold but is characterized by higher volatility, became more sensitive to these changes in sentiment. Furthermore, the mild strengthening of the US dollar at the start of the week also weighed on silver prices....
The Australian dollar weakened against the US dollar on Monday (November 24th), ahead of the release of important inflation data due this week. The market is focusing on Australia's first "full" monthly CPI release for October on Wednesday, which is expected to provide new clues about the direction of the RBA's interest rate policy. Despite the pressure on the AUD, the AUD/USD pair still found some support due to expectations that the RBA will adopt a more cautious stance. The minutes of the RBA's November meeting indicated the central bank is likely to keep interest rates high for longer....
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....