OPEC on Tuesday raised its forecast for global oil demand next year and trimmed its forecast for growth in supply from the United States and other producers outside the wider OPEC+ group, pointing to a tighter market outlook. World oil demand will rise by 1.38 million barrels per day in 2026, the Organization of the Petroleum Exporting Countries said in a monthly report, up 100,000 bpd from the previous forecast. This year's expectation was left unchanged. Oil supply from countries outside the Declaration of Cooperation - the formal name for OPEC+ - will rise by about 630,000 barrels per...
Gold price (XAU/USD) maintains its strong bid tone through the first half of the European session on Monday and currently trades near the all-time peak, just below the $3,400 mark. The severe nature of US President Donald Trump's international trade policies has raised the possibility of a US recession, which continues to weigh on investors' sentiment and benefits the safe-haven precious metal. Meanwhile, trump's back-and-forth tariff announcements have dented confidence in the world's largest economy. This, along with the prospects for more aggressive policy easing, drags the US Dollar...
Silver prices rose nearly 1% to around $32.80 per ounce on Monday, bouncing back from the previous session's losses as a weakening US dollar reignited safe-haven demand. The greenback came under pressure amid escalating concerns over US economic policy direction and the independence of the Federal Reserve. Investor anxiety intensified after President Donald Trump threatened to fire Fed Chair Jerome Powell, raising fears of political interference in monetary policy and undermining confidence in the central bank's autonomy. Adding to the risk-off mood were heightened US-China trade tensions,...
The dollar index fell to 98.2 on Monday, the lowest since February 2022, as concerns over the Federal Reserve's independence weighed on the greenback. On Friday, National Economic Council Director Kevin Hassett revealed that President Trump is exploring the possibility of firing Fed Chair Jerome Powell. A day earlier, Trump posted on social media that Powell's removal "cannot come fast enough," while intensifying pressure on the central bank to cut interest rates. Such remarks have fueled worries about the politicization of US monetary policy, potentially undermining the Fed's credibility...
Silver (XAG/USD) attracts some dip-buyers at the start of a new week and touches an intraday high, around the $32.80 region during the Asian session. The white metal, however, remains below the $33.00 mark and a nearly two-week high touched last Thursday, warranting some caution for bullish traders. Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and...
Oil prices fell more than 1.5% on Monday as investors once again focused on concerns U.S. tariffs on its trading partners will create economic headwinds that will reduce fuel demand growth. Brent crude futures slipped $1.10, or 1.6%, to $66.86 a barrel at 0255 GMT after closing up 3.2% on Thursday. U.S. West Texas Intermediate crude was at $63.57 a barrel, down $1.11, or 1.7%, after settling up 3.54% in the previous session. Thursday was the last settlement day last week because of the Good Friday holiday. "The broader trend remains tilted to the downside, as investors may struggle to find...
U.S. President Donald Trump announced Monday evening on Truth Social that Israel and Iran have agreed to a "Complete and Total CEASEFIRE" following what he referred to as "THE 12 DAY...
Gold moved above $2600 on Monday during the Asian trading session. Currently, Gold is still struggling to capitalize on last week's modest recovery from a one-month low and is fluctuating.
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