Renewed tensions between the United States and Russia have resurfaced following an incident involving an oil tanker, sparking market concerns about potential disruptions to global energy supplies. Washington's move, associated with tightening oversight and enforcement of sanctions on Russian oil shipments, is viewed by Moscow as provocative and could worsen relations between the two countries. Russia views these actions as an attempt by the United States to suppress Russian energy exports and strengthen its dominance in the global oil market. Meanwhile, Washington argues that these measures...
Gold prices are holding steady today after rising for three consecutive days, supported by expectations of further monetary easing in the United States. Bullion is trading slightly around $4,280 per ounce, after gaining 1.2% in the previous session. The Fed recently cut interest rates and opened up the possibility of additional cuts next year, while the swaps market is even betting on two cuts by 2026, although the central bank has only signaled one. This low interest rate environment is a significant factor in reviving interest in the precious metal. The supporting factors for gold don't...
Silver climbed above $61 per ounce, extending a record rally as markets digested the Fed's 25 basis point cut and parsed Chair Powell's remarks which markets read as relatively dovish even as committee guidance remained cautious. The cut itself was largely priced in, but Powell's comments and a softer dollar lowered the opportunity cost of holding metal. At the same time the physical market has tightened materially which amplifies the policy impulse. ETF inflows and spot buying have surged this year and funds added large tonnes last week, while official and retail demand in Asia and India...
Gold prices surged tonight due to a combination of dovish sentiment from the Fed and market concerns about the future economic outlook. Following the interest rate cut and signals that the Fed is no longer aggressive about raising interest rates, US bond yields tended to fall, lowering the opportunity cost of holding gold. At the same time, the US dollar is less strong than before, making the dollar-denominated precious metal feel cheaper to global buyers. The result: an influx of buying into gold, pushing prices through key psychological levels in the evening session. In addition to...
US West Texas Intermediate (WTI) crude oil was trading around $57.70 at the time of writing on Thursday, down 1.80% on the day. Crude oil remained under pressure as signs of progress emerged in negotiations aimed at ending the conflict between Russia and Ukraine, a development that reduced the risk premium previously embedded in oil prices. US President Donald Trump reportedly told Ukrainian President Volodymyr Zelensky that he had until Christmas to accept a proposal that could end the war, according to the Telegraph. Meanwhile, Zelensky confirmed that he was finalizing a revised peace...
Gold prices fell slightly on Thursday (December 11th), as traders weighed the US Federal Reserve's split vote on a quarter-percentage-point interest rate cut, while silver rose to a new record high. Spot gold fell 0.2% to $4,220.09 an ounce, as of 0947 GMT. US gold futures for February delivery rose 0.5% to $4,247.50 an ounce. "It's just overpositioning (in gold) in anticipation of a rate cut, which did happen, and so you're seeing some selling pressure," said independent analyst Ross Norman, adding that gold's fundamentals remain intact. The Fed cut interest rates by a quarter-percentage...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
European stock indices closed marginally lower on Wednesday as equities took a breather from their recent strong momentum, while investors continued to assess the outlook for the ECB's policy this...
The upcoming Supreme Court ruling on the legality of President Donald Trump's massive tariffs, which rocked markets in April, is one of the next major tests for US stocks and bonds.
Equity markets...