Gold prices finally rebounded after two consecutive days of pressure. This slight increase occurred as market participants began to reconsider the chances of an interest rate cut by the Federal Reserve next month. Previously, market sentiment had been hit by weakening expectations that the Fed would soon lower borrowing costs. In recent days, several Fed officials have expressed a cautious outlook. They believe that inflation could slow for longer or stall again, making an interest rate cut imminent. Some officials, such as Jeff Schmid and Susan Collins, have even openly rejected a December...
Oil prices rose more than 2% on Friday (November 14th) as the Russian port of Novorossiisk halted oil exports following a Ukrainian drone attack on an oil depot in the Russian energy hub, sparking supply concerns. Brent crude futures closed up $1.38, or 2.19%, at $64.39 a barrel, while U.S. West Texas Intermediate crude settled up $1.40, or 2.39%, at $60.09 a barrel. Brent rose 1.2% for the week, and WTI posted a weekly gain of about 0.6%. Friday's attack damaged a ship at the port, an apartment block, and an oil depot in Novorossiisk, injuring three crew members, Russian officials...
Gold prices fell 3% on Friday (November 14th) due to a broader market sell-off, triggered by hawkish remarks from US Federal Reserve officials, which dimmed hopes of a December interest rate cut. Spot gold prices fell 1.9% to $4,092.72 an ounce, as of 2:33 PM ET (19:33 GMT), after falling more than 3% earlier in the session. However, bullion is up 2.3% so far this week. US gold futures for December delivery closed 2.4% lower at $4,094.20. "The notion that we're going to see a smaller chance of a Fed rate cut in December is what's weakening the gold and silver markets," said David Meger,...
Oil prices rose nearly 2% on Friday (November 14th), driven by supply concerns after the Black Sea port of Novorossiisk halted oil exports following a Ukrainian drone attack on an oil depot in Russia's key energy hub. Brent crude futures rose $1.04, or 1.65%, to $64.05 a barrel at 14:28 GMT, while U.S. West Texas Intermediate crude rose $1.15, or 1.96%, to $59.84 a barrel. The contracts were more or less stable this week. At those levels, Brent was headed for a weekly gain of about 0.7% and WTI was up slightly by 0.15%. Friday's attack damaged a ship at the port, an apartment block, and an...