Oil prices fell on Wednesday to a five-month low due to escalating US-China trade tensions and the International Energy Agency's (IEA) prediction of a supply surplus in 2026. Brent crude fell 48 cents, or 0.8%, to $61.91 per barrel. US West Texas Intermediate (WTI) crude fell 43 cents, or 0.7%, to $58.27. This was the lowest close for both benchmarks since May 7, for the second straight day. Bank of America said Brent could fall below $50 per barrel if US-China trade tensions escalate while OPEC+ production increases. The world's two largest oil consumers have renewed their trade war over...
Gold prices breached $4,200 per ounce for the first time on Wednesday, extending a record rally as rising interest rate cut bets and geopolitical jitters send investors flocking to the safe-haven metal. Spot gold rose 1.3% to $4,195.35 per ounce as of 1:57 p.m. ET (1757 GMT), after hitting an all-time high of $4,217.95 earlier. U.S. gold futures for December delivery settled up 0.9% to $4,201.60. "The metal has been on a tear, and it doesn't look like it wants to stop With U.S.-China trade tensions being reignited in the last few days, investors have even more reason to hedge their long...
Gold rose to a new record above $4,200 an ounce and silver surged, driven by escalating US-China tensions and speculation that the Federal Reserve will cut interest rates twice more this year. The price of gold bullion rose as much as 1.8% to a peak of $4,218.29 on Wednesday. Spot silver prices rose more than 3%, while the availability of the precious metal in the London market remains limited. Silver had a volatile day on Tuesday, when prices surged to an all-time high above $53.55 an ounce before falling sharply. US Treasury yields fell to their lowest level in months after Fed Chairman...
Oil prices plummeted on Wednesday (October 15th), holding near five-month lows for a second day, pressured by escalating US-China trade tensions and the International Energy Agency's (IEA) prediction of a supply surplus by 2026. Brent crude fell 23 cents, or 0.4%, to $62.16 a barrel at 11:11 a.m. EDT (15:11 GMT). U.S. West Texas Intermediate crude fell 14 cents, or 0.2%, to $58.56. Both benchmarks were heading for their lowest close since May 7 for the second straight day. Bank of America said Brent could fall below $50 a barrel if US-China trade tensions escalate while OPEC+ production...