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....
Oil extended after the biggest weekly loss since early October, as traders weighed the prospect of a Ukraine-Russia peace deal that could increase crude flows into an already well-supplied market. Brent traded above $62 a barrel after slumping almost 3% last week, while West Texas Intermediate was below $58. European leaders and other allies have told the US the plan needed more work to try and restrain a Trump administration looking to give concessions to Russia and impose terms by Thanksgiving. Following US-Ukrainian talks on Sunday in Geneva, US Secretary of State Marco...
Gold was steady in Asia as the market weighed the chances of another Federal Reserve rate cut in the coming months. New York Fed President John Williams said he sees room for the US central bank to cut borrowing costs in the near term as the labor market softens, although other officials sounded more cautious. Bullion pared losses on Friday after Williams' comments but still ended the session lower. Futures traders are pricing in a slightly more than 60% chance of a quarter-point cut next month. Gold rose 0.1% to $4,070.08 an ounce as of 7:43 a.m. in Singapore...