Silver prices are currently trading above $74.49 per ounce in the US session on Friday (December 26th), extending a remarkable rally that began several months ago, fueled by geopolitical tensions and a weakening US dollar. This surge was fueled by continued speculation, supply dislocations in major trading centers, and a large influx of funds into silver-backed ETFs. Rising demand, from both the investment and industrial sectors, has made silver a leading choice amidst the global economy.Silver is also supported by fundamental factors such as rising geopolitical tensions and concerns about...
In the morning session in Singapore at around 7:36 a.m., gold prices were recorded as having risen 0.7% to $4,187 per ounce, while the Bloomberg Dollar Spot Index was flat, indicating no significant pressure from the strengthening dollar. Gold prices were stable but remained on track to rise for the fourth consecutive month. In Asian trading on Friday (November 28th) morning, positive sentiment stemmed from expectations that the Federal Reserve would cut interest rates next month. Comments from several Fed officials and the delayed release of economic data have made the market increasingly...
Gold prices (XAU/USD) weakened in the Asian session on Thursday (November 27), retreating from the nearly two-week high reached the previous day. More positive market sentiment, supported by hopes for a Russia-Ukraine peace deal and the prospect of lower global interest rates, prompted some funds to shift away from safe-haven assets like gold. This occurred amid thin trading volume due to the Thanksgiving holiday in the United States. However, gold's weakness so far appears limited. The market remains confident that the Federal Reserve will cut interest rates at its December meeting, while...
Silver prices have rallied again as US bond yields fall and expectations mount that the Fed will cut interest rates at its December meeting. This has made non-yielding assets like silver attractive again, especially since its movements tend to be more aggressive than gold.Going forward, silver's direction will be heavily influenced by two factors: expectations of a Fed rate cut and industrial demand, particularly from the solar energy sector. If sentiment for easing interest rates persists and silver's demand for production remains high, upside potential remains open, although the risk of a...
Gold (XAU/USD) maintained its intraday gains, nearing a one-and-a-half-week high reached in the Asian session, supported by dovish expectations from the Fed. The latest US data showed inflation is starting to ease, while comments from several Fed officials supporting further easing pushed the US dollar to a one-week low. This provided additional support for non-yielding gold, keeping its outlook positive. However, global risk appetite has also increased due to the prospect of lower US interest rates and hopes for progress in Russia-Ukraine peace talks, which has limited interest in...
Oil prices remain stuck near their lowest levels in a month, with WTI around US$58 and Brent around US$61 per barrel. The market is clouded by the potential for peace in Ukraine, which could ease sanctions on Russian oil, while the IEA projects a supply glut of up to 4 million barrels per day next year.US oil inventories did fall by 1.9 million barrels, but this was not enough to lift sentiment. As long as supply remains abundant and demand is weak, the risk of oil prices remaining in the lower zone remains quite high, unless OPEC+ agrees to tighten production again.The oil price at the time...