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 (XAU/USD) has given away earlier gains and is trading lower for the second consecutive day during us session. The US Dollar (USD) maintains its bullish tone, supported by rising US Treasury yields, which keeps the precious metal under pressure. Recent US data is showing a resilient US economy with inflation picking up. Donald Trump's high tariffs for imports and restricted immigration are expected to lift consumer prices, forcing the (Fed) to approach cautiously with monetary easing next year.As of this writing,Gold is at $2,657 Newsmaker.id
Gold prices were steady in Asian trade on Friday after posting a sharp decline in the previous session on a stronger dollar, as anticipation of a Federal Reserve meeting next week benefited the greenback.However, the yellow metal held on to most of its gains this week, as safe-haven demand was supported by rising geopolitical tensions in the Middle East and Asia.Spot gold was steady at $2,687.44 an ounce, while February gold futures were flat at $2,709.51 an ounce by 00:00 ET (05:00 GMT). Spot prices are trading up more than 2% this week.The yellow metal pared some of its gains this week as...
Silver began to experience an increase on Friday during the Asian trading session.After the release of US data that affected silver prices yesterday, it tended to decline. Furthermore, market players mostly still expect a 25bps increase by the Fed next week and expect further interest rate cuts next year, although uncertainty remains about the extent of the reduction. Source: Newsmaker.id
Gold continued to fall after mixed U.S. data prompted traders to book profits ahead of the Federal Reserve's final policy meeting of the year. Bullion was trading near $2,690 an ounce after falling 1.4% on Thursday following a report showing U.S. wholesale inflation unexpectedly rose in November, while applications for unemployment benefits rose last week to a two-month high.
Silver prices rallied again to near one-month highs as the latest US inflation data met expectations, strengthening the case for a Federal Reserve rate cut. The market is now pricing in a near 100% chance of a 25 basis point cut at the Fed's meeting next week. In addition, sentiment was boosted by hopes that Beijing will announce more stimulus measures after a key political meeting. Chinese leaders begin a closed-door Central Economic Work Conference on Wednesday, where they will set economic targets and outline stimulus plans for 2025. Earlier this week, the Politburo committed to a...