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...
Silver is now stable around $57 per ounce after previously hitting a record high near $59 earlier in the week. Selling pressure emerged as many traders opted to take profits after a rally they deemed too strong. The more than 2% drop in the previous session also pushed silver out of "overbought" territory, so this correction looks more like a short-term breather than a major trend reversal. The recent rise in silver prices has been largely supported by expectations that the Federal Reserve will cut interest rates at its meeting next week. Swap contracts indicate the market is almost certain...
Oil prices held steady on Thursday amid investor expectations that the Federal Reserve would cut interest rates, while stalled Ukraine peace talks dampened hopes of a deal to restore Russian oil flows. Brent crude closed up 59 cents, or 0.94%, at $63.26. U.S. West Texas Intermediate crude closed up 72 cents, or 1.22%, at $59.67. U.S. crude futures rose more than $1 per barrel earlier in the session, boosted by expectations that a U.S. interest rate cut would support the world's largest economy and oil demand, after data showed a slowdown in employment. The dollar weakened, poised to post a...
Gold (XAU/USD) posted modest gains on Thursday, despite the latest US jobs data showing that the labor market remains resilient, albeit with signs of easing emerging. High expectations that the Federal Reserve (Fed) will cut interest rates kept bullion prices supported, with XAU/USD trading at $4,212, up 0.25% at the time of writing. The mixed US jobs data kept rate cut speculation high, helping bullion extend its gains despite signs of a stabilizing labor market. Market sentiment was mixed after the release of the latest US economic data showed the labor market weakening, but not as...
Gold prices were largely unchanged on Thursday as rising US Treasury yields offset support from a weaker dollar, while the market awaited Friday's US inflation data for clues on the Federal Reserve's policy outlook ahead of its December meeting. Spot gold fell 0.2% to $4,195.69 an ounce, as of 15:05 GMT. US gold futures for February delivery fell 0.2% to $4,224.10 an ounce. "Higher yields are capping some upside (for gold), and the dollar index is generally providing some support," said Marex analyst Edward Meir. The benchmark 10-year US Treasury yield rose 0.8%, while the US dollar index...
Silver fell from its all-time high, as traders took profits after an eight-day rally deemed too fast and too far. Gold was little changed. The white metal fell as much as 3.4% after the latest US jobs data did little to dent bets on interest rate cuts next week. Applications for unemployment benefits hit their lowest level in more than three years, indicating that companies are retaining workers despite the recent wave of layoffs. Lower interest rates should theoretically boost precious metals, including silver and gold, as they don't pay interest. However, silver's rapid rise to an...
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...