Oil prices rose in early Asian trading as tensions between the US and Venezuela escalated, according to a research note from analysts at Nanhua Futures. They cited S&P data showing a decline in tanker traffic to Venezuela, which could tighten supply flows and improve market sentiment.Analysts believe this geopolitical risk has the potential to support oil prices in the short term, while investors will monitor developments in US-Venezuela relations for potential triggers for further price movements. During the session, the front-month WTI contract rose 0.7% to $57.13 per barrel, and the...
Silver prices fell more than 1% toward $32 an ounce on Thursday (01/05), marking a third straight session of declines, as easing global trade tensions sapped demand for safe-haven assets. Sentiment shifted after U.S. President Donald Trump hinted at potential trade deals with India, Japan and South Korea, and voiced optimism about a deal with China. At the same time, the outlook for industrial demand for silver came under pressure amid weaker economic data from major economies. Source: Newsmaker.id
Gold fell on Thursday (01/05) to a two-week low on signs of potential progress in trade talks between the U.S. and other countries, denting demand for haven assets despite concerns about a weakening economy. Prices fell as much as 2.15% as market sentiment improved on Wall Street after National Economic Council Director Kevin Hassett said the Trump administration was making progress in tariff talks. Source: Newsmaker.id
Gold fell to a two-week low on Thursday (1/5) as a stronger dollar and easing trade tensions dented the metal's safe-haven appeal, while investors awaited the U.S. nonfarm payrolls report. Spot gold fell 1.6% to $3,235.55 an ounce by 0629 GMT, after hitting its lowest since mid-April. Source: Newsmaker.id
Silver remains under heavy selling pressure for the third straight day on Thursday.Silver (XAG/USD) is trading lower for the third straight day, marking the fourth day of negative movement in the previous five, and dropped to a more than two-week low during the Asian session on Thursday. However, the white metal is showing some resilience at the bottom even though the technical setup supports prospects for an extension of the one-week-old downtrend.As of this writing, Silver is trading at $31,993 Source: Newsmaker.id
Gold prices were trading at $3247 early in the Asian session on Thursday (1/5) this was accompanied by news that the Trump administration was close to announcing the first phase of a deal that would reduce planned tariffs on several countries also easing some concerns about the global trade outlook. The easing of the US-China tariff war has caused the price of Gold to be at a normal level. Source: Newsmaker.id