Oil prices rose on Tuesday after data showed China's manufacturing activity expanded in December, but they are on track to end lower for a second consecutive year due to demand concerns in top consuming countries. Brent crude futures rose 60 cents, or 0.8%, to $74.59 a barrel as of 0530 GMT. U.S. West Texas Intermediate crude gained 62 cents, or 0.9%, to $71.61 a barrel. For the year, Brent declined 3.2%, while WTI was down 0.1%. China's manufacturing activity expanded for a third straight month in December but at a slower pace, an official factory survey showed on Tuesday, suggesting a...
Gold price (XAU/USD) holds ground after two days of losses amid thin trading volume on Monday. Gold prices are set to finish the year with an impressive 27% gain, representing their strongest annual performance since 2010. This rally has been driven by central bank purchases, rising geopolitical tensions, and monetary easing policies implemented by major central banks. The yellow bullion, Gold, remained relatively stable as investors reacted to indications of a hawkish Federal Reserve (Fed). Robust labor market data, reflected in payroll counts, and persistent inflation prompted FOMC...
Gold held above $2,600 per ounce on Tuesday after two sessions of declines, showing little movement over the past week as investors awaited fresh catalysts. Traders are closely monitoring signals about the US economy, President-elect Donald Trump's tariff policies, and the Federal Reserve's monetary policy outlook, all of which could influence gold's trajectory. Resilient labor market data from payroll counts and signs of persistent inflation has recently led FOMC members to project fewer rate cuts next year, which weighed on gold prices in Q4 as the hawkish Fed reduced the appeal of...
The dollar was firm on the last trading day of the year, poised to clock strong gains in 2024 against most currencies as investors prepared for fewer U.S. rate cuts and the incoming Trump administration's policies. The dollar's ascent, buoyed by rising Treasury yields, has pushed the yen toward its lowest levels since July, when the Japanese authorities last intervened. On Tuesday, it was at 157.02 per dollar, on course for a 10% drop in 2024, its fourth straight year of decline against the dollar. Japanese markets are closed for the rest of the week, and with most markets closed on...