Oil prices rose slightly in trading on Tuesday (January 20) after better-than-expected Chinese economic data boosted demand optimism. Brent crude rose 19 cents (0.3%) to $64.13/barrel, while February WTI which expires today rose 25 cents (0.4%) to $59.69/barrel. The more active March WTI contract also edged higher to around $59.42/barrel. This strengthening was driven by news from China, the world's largest oil importer. The Chinese economy reportedly grew 5.0% through 2025, meeting the government's target. Refinery activity also increased, with refinery throughput rising 4.1% and crude oil...
Gold is trading steadily around $4,070 per troy ounce after the release of mixed US employment data. September job growth was stronger than expected, but unemployment also rose, so the signal isn't entirely bullish or bearish for the economy. For the market, this figure isn't strong enough to force the Fed to immediately cut interest rates in December. As a result, gold is likely to trade sideways for now: held back by still-high interest rates, but still seen as a safe haven amid signs of an economic slowdown. (asd)The price of gold at the time of this analysis was $4,073. Disclaimer:This...
Brent oil prices strengthened on Thursday (November 20th), driven by concerns about supply disruptions amidst still-high geopolitical tensions. Brent moved with daily gains of around 0.3% and has strengthened nearly 4% in the past month. Positive sentiment stemmed from new sanctions by the United States and its allies against major Russian oil companies, which sparked concerns about supply tightening, as well as a series of Ukrainian drone attacks on Russian energy infrastructure that briefly disrupted export flows from key ports such as Novorossiysk. On paper, the market remains fraught...
Silver is currently being supported by two main factors: its function as a safe haven and industrial demand. While the market is wary of interest rates, inflation, and geopolitics, silver is being sought along with gold. At the same time, silver is used in solar panels, electronics, and electric vehicles, so the green energy trend is keeping underlying demand strong. From a policy perspective, expectations that the Fed is nearing the end of its interest rate hike cycle also benefit silver. If interest rates fall and the US dollar weakens, non-interest-bearing precious metals like silver...
Gold prices strengthened in the early Asian session, with spot gold rising around 0.6% to around US$4,102.58 per troy ounce. This increase was supported by increased investment interest, after data on institutional holdings in large gold ETFs showed more companies adding to their gold positions. TD Securities also believes the trend of gold buying by central banks will continue in the long term. The combination of institutional investors and central banks makes gold attractive as a safe haven asset amid global uncertainty.The gold price at the time of this analysis was released was...
Silver prices strengthened on Wednesday (November 19th) as investor interest in precious metals improved. In recent trading, silver (XAG/USD) rose slightly and regained ground above the US$51 per troy ounce level, after a correction in the previous few sessions. This strengthening occurred amid a market atmosphere that remains risk-off, as market participants await the release of US employment data (NFP) and the latest developments on expectations of a Fed interest rate cut in December. The probability of a rate cut has indeed decreased to around 40 percent, but the prospect of interest...