Oil prices weakened following the Trump-Putin meeting in Alaska today. Brent fell 0.93% to $66.18/barrel at the time of writing.The market is weighing the possibility of a ceasefire in Ukraine, which could lead to the easing of Russian oil sanctions, versus a stalemate that risks triggering secondary US sanctions.Sentiment is also underscored by weak Chinese data (falling factory output, slowing retail sales) and concerns about a supply surplus as OPEC+ production increases. The IEA assesses that the market is likely oversupplied, making prices easily bearish. Oil prices at the time of...
Gold rose to a new record high above $3,200 an ounce on Friday as concerns about the impact of tariffs on the global economy boosted bullion's appeal as a haven for investors. Gold's safe-haven status has been bolstered this week, with President Donald Trump's U-turn on tariffs sparking a panic sell-off in stocks, bonds and the U.S. dollar as fears of a global recession gripped Wall Street. In particular, the sell-off in U.S. Treasury bonds highlighted the declining appetite for U.S. assets and raised questions about whether the country's debt remains a safe haven. Source: Newsmaker.id
Silver rose above $31.20 an ounce on Friday (11/4), marking its third straight session of gains, as broad-based US dollar weakness and renewed economic concerns fueled demand for alternative assets. The metal also benefited from rising inflows into safe-haven assets, with the dollar losing some of its appeal as a traditional safe haven. Despite the 90-day tariff suspension, investors remain uneasy about President Trump's trade policies and their potential to tip the US economy into recession. Source: Newsmaker.id
Gold continued to record new highs, moving above the $3,200 level for the first time on Friday (11/4), driven by a weakening US dollar and economic concerns due to the escalating trade war. Despite the 90-day tariff suspension, investors remain concerned about President Trump's trade policies and their potential to drag the US economy into recession. Meanwhile, the price of gold when this news was released rose 1.7% to the level of $3229/ toz. Source: Newsmaker.id
Silver prices extended gains for a second session as commodities bounced back after Trump's reversal of his reciprocal tariff policy that lowered new tariffs on imports from most US trading partners to 10% for 90 days to allow for trade negotiations. However, major consumer China remains subject to a steep 125% tariff amid continued tit-for-tat escalation between Washington and Beijing.As of this writing, silver is trading at $31,240 Source: Newsmaker.id
Gold rose to a new record high on Friday (11/4) as concerns about the impact of tariffs on the global economy continued to drive investors to seek safety in the precious metal even after U.S. inflation data eased. Bullion edged up in early Asian trading on Friday (11/4) to above $3,204 an ounce. That surpassed the previous record set in the previous session, when it closed more than 3% higher for a second straight day. Source: Newsmaker.id -ads