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) prices extended its weekly uptrend for the third straight day on Wednesday and climbed to a two-and-a-half-week high during the Asian session. The commodity now looks to extend its momentum beyond the $2,700 mark and remains well supported by a combination of factors. Geopolitical risks stemming from the escalating Russia-Ukraine war and tensions in the Middle East, along with concerns over US President-elect Donald Trump's tariff plans, continue to boost safe-haven demand. Until this News Released Gold Prices Were at Level: $ 2,683
Gold prices steadied near a two-week high in Asian trade on Wednesday as geopolitical instability in Asia and the Middle East underpinned safe haven demand. The yellow metal also caught some bids as markets turned risk-averse ahead of key U.S. inflation data due later on Wednesday, which is likely to factor into the outlook for rates. Among industrial metals, copper prices rose sharply on sustained optimism over more stimulus measures in top importer China. Encouraging copper import data from the country also aided sentiment. Source: Investing.com
Gold rose during the North American session on Tuesday with buyers eyeing the $2,700 mark for the first time since November 25. One of the drivers of the yellow metal's rise was expectations that the Federal Reserve (Fed) will cut interest rates at its December meeting. At the time of writing, XAU/USD was trading at $2,694, up 1.32%. US economic data released on the day showed that small businesses have grown optimistic about the economy, according to a survey by the National Federation of Independent Business. However, traders are focused on the release of US inflation figures on the...
Gold prices continued their rally on Tuesday. China's Politburo, promising further economic stimulus to support growth, and the resumption of Gold purchases by the People's Bank of China (PBOC) acted as a boost for the precious metal. Another source of support for Gold was safe-haven flows fueled by uncertainty in the Middle East, following the fall of the Bashar al-Assad regime in Syria, and political deadlock in France and Germany. Finally, rising bets that the Federal Reserve (Fed) will cut interest rates next week pushed US yields to multi-week lows, providing additional support for...
Silver prices followed gold's gains in the European session on Tuesday (10/12), trading near $31.90 and hitting an intraday peak of $32.04. The metal's safe haven status and close correlation with gold have supported its gains. Market uncertainty surrounding geopolitical instability and U.S. economic policy has boosted silver's appeal as a store of value. However, like gold, silver's rally has faced resistance from a stronger U.S. dollar. The People's Bank of China's gold purchases reflect broader global demand trends. Coupled with concerns about potential inflation stemming from Trump's...