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 edged higher and held around $4,210 per troy ounce in early Asian trading on Thursday morning. This increase occurred amid sentiment that the Federal Reserve (The Fed) is likely to cut interest rates at its meeting next week. Although the increase was not significant, gold's ability to hold above the $4,200 level indicates that buying interest remains strong. The main trigger for gold's rally came from weaker-than-expected US private sector employment data. The ADP report showed that US private payrolls fell by 32,000 in November, reversing from the 47,000 increase in the...
Oil prices edged higher and remained in the green in recent trading, as market participants weighed the chances of a ceasefire in Ukraine and escalating tensions between the United States and Venezuela. WTI oil hovered near $59 per barrel after gaining about 0.5% in the previous session, while Brent closed slightly higher, just above $62 per barrel. US President Donald Trump said the meeting between his envoy and Russian President Vladimir Putin went "quite well," but he admitted he did not yet know the final outcome of the peace talks to end the Russia-Ukraine war. The oil market is...
Silver held steady near a record high on Thursday, hovering around $58.50 per troy ounce, just under a dollar shy of its all-time high of $58.97 reached the previous day. The metal has risen for eight consecutive days, supported by speculation about tight supplies and hopes for lower US interest rates, which typically benefit precious metals as they are interest-free. Silver's gains strengthened after ADP employment data showed US companies cut their workforce in November by the largest amount since early 2023. This data added to concerns about a weakening labor market and reinforced the...
Oil prices rose on Wednesday (December 3) after the US and Russia failed to reach a deal to end the war in Ukraine that would have eased sanctions on Moscow's oil sector, although gains were tempered by concerns about oversupply. Brent crude closed up 22 cents, or 0.4%, at $62.67, while U.S. West Texas Intermediate crude rose 31 cents, or 0.5%, to $58.95. Both contracts fell more than 1% in the previous session. U.S. crude, gasoline, and distillate stocks rose last week, the Energy Information Administration (EIA) said on Wednesday, adding to concerns about oversupply. Crude inventories...
Gold prices held steady on Wednesday (December 3), boosted by weak private payrolls data that reinforced expectations of a US interest rate cut next week, while silver hit a new record high. Spot gold was little changed at $4,202.06 an ounce at 2:03 PM ET (19:03 GMT), after hitting a session high of $4,241.29 earlier in the session. U.S. gold futures for February delivery closed 0.3% higher at $4,232.50. Silver held steady after hitting a record high of $58.98 earlier in the session. "The ADP data miss this morning, coupled with silver hitting an all-time high overnight," is supporting...
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...