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) retreats after touching a fresh record high earlier this Monday and trades with a mild negative bias around the $3,220 area during the first half of the European session. A positive tone around the equity markets prompts some profit-taking around the precious metal amid slightly overbought conditions on the daily chart. Any meaningful corrective decline, however, still seems elusive in the wake of a sharp escalation in US-China trade tensions, which might continue to act as a tailwind for the safe-haven bullion. Meanwhile, investors now seem convinced that the Federal...
Silver prices dipped to around $32 per ounce on Monday, snapping a three-day rally as easing trade tensions reduced demand for safe-haven assets. The pullback followed US President Donald Trump's decision to exempt key technology products from his newly announced "reciprocal" tariffs, lifting global market sentiment. China's Commerce Ministry welcomed the exemptions as a "small step," while urging the US to fully remove the broader 145% levy on Chinese goods. Markets are now focused on upcoming trade negotiations between the US and major partners, including Japan, India, and South...
Oil steadied above a four-year low as traders weighed the latest U.S. moves in a trade war, as well as "constructive" talks between Washington and Tehran. Brent traded below $65 a barrel after a week of losses while West Texas Intermediate neared $62. While President Donald Trump paused tariffs on some electronics, he also indicated that specific tariffs would be announced in due course. Meanwhile, easing tensions with Iran could offer the prospect of increased supply. The weekend talks in Oman marked the first high-level engagement since 2022, and signaled renewed efforts to resolve a...
As U.S. President Donald Trump escalates his tariff war on the world, gold has been rallying alongside it to a series of record highs. The precious metal hit a new peak of $3,245.28 an ounce on April 11 and has gained 28% since bottoming out at $2,536.71 on Nov. 14, shortly after Trump's victory that returned him to the White House to begin his second term in January. In some ways, gold is doing what it's supposed to do. It's offering investors a safe haven from the chaos that has engulfed many financial markets since Trump's ill-fated "Liberation Day" tariff announcement on April 2. The...
The USD/CHF pair moved higher in early Asian trading on Monday (4/14), holding around the 0.8170 level after posting losses in the last two consecutive sessions. Market participants are eyeing the release of Swiss Producer and Import Prices for March, due later today. However, the USD/CHF pair's gains may be restrained as the Swiss Franc (CHF) continues to receive support from safe-haven demand amid escalating trade tensions between the United States and China. The renewed friction has rekindled fears of a global recession, prompting investors to move away from US assets. Late last week, a...
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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