Gold prices rose for the fourth straight session on Thursday, driven by safe-haven demand amid escalating tensions in the Russia-Ukraine conflict, while investors awaited remarks from Federal Reserve policymakers on the interest rate outlook. Spot gold was up 0.3% at $2,657.41 per ounce, as of 0238 GMT, hitting its highest since Nov. 11. U.S. gold futures rose 0.3% to $2,660.00. Ukraine fired a series of British Storm Shadow cruise missiles into Russia on Wednesday, marking the latest use of Western weapons on Russian targets, just a day after firing U.S. missiles. Meanwhile, the United...
Oil steadied as US crude stockpiles expanded for a third week, with traders monitoring an escalation of the war in Ukraine. West Texas Intermediate traded near $69 a barrel after closing 0.7% lower on Wednesday, while Brent settled below $73. US crude inventories rose by 545,000 barrels last week, according to government data. The volume was significantly smaller than figures flagged by an industry report. Oil has swung between gains and losses since mid-October, buffeted by a range of factors including signs of ample supply and a stronger dollar. Russia's war in...
Gold edges higher in early Asian trade. The precious metal is still supported by geopolitical uncertainties, particularly the ongoing conflict between Russia and Ukraine, Sucden Financial analysts say in a note. Geopolitical tensions can often spur demand for gold, which is considered a safe-haven asset. Spot gold is up 0.2% at $2,654.46/oz. Source: Marketwatch
Oil prices settled lower on Wednesday after U.S. crude and gasoline stocks rose by more than expected last week, but losses were capped by worries about the intensifying war between major oil producer Russia and Ukraine. Brent crude futures for January settled down 50 cents, or 0.68%, at $72.81. U.S. West Texas Intermediate crude futures for December expired on Wednesday, and settled down 52 cents, or 0.75%, at $68.87, while the more active WTI contract for January settled down 49 cents, or 0.71% at $68.75. U.S. crude and gasoline stocks rose by more than expected last week, according to...