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 prices rose in Europe on Tuesday (10/12), still supported by optimism about a Fed rate cut this month, fiscal stimulus from China and geopolitical tensions in the Middle East. Investors are eyeing the release of the US Consumer Price Index (CPI) on Wednesday and the Producer Price Index (PPI) on Thursday, both of which are expected to have an impact on the Federal Reserve's interest rate cut decision. Traders now see about a 90% chance of a 25 basis point rate cut next week, according to the CME FedWatch tool, up significantly from 73% last week. Source: newsmaker.id
Silver (XAG/USD) prices extended its rally for the second day, trading around $32.00 per troy ounce during Asian hours on Tuesday. The daily chart analysis shows a bullish bias, with the currency pair moving up within an ascending channel pattern. Moreover, the 14-day Relative Strength Index (RSI) remains above the 50 mark, further supporting the bullish sentiment. The XAG/USD pair continues to trade above the nine- and 14-day Exponential Moving Averages (EMAs), strengthening the bullish outlook and signaling a strengthening of the short-term price momentum. This indicates increased buying...
Gold steadied after rallying as traders shifted focus to a key US inflation report due later this week that could shape expectations ahead of the Federal Reserve's final interest rate decision of the year. Bullion prices held near $2,660 an ounce — near a two-week high — after China's central bank added the precious metal to its reserves for the first time in seven months. Geopolitical concerns also fueled demand for safe-haven assets amid fears of a power vacuum in Syria after Bashar al-Assad was ousted from power over the weekend.
Gold prices (XAU/USD) moved higher in the American session, supported by its status as a safe asset amid rising uncertainty in the Middle East following the fall of the Bashar al-Assad regime in Syria.In addition, the People's Bank of China (PBOC) announced over the weekend that it resumed Gold purchases in November after a six-month pause, which provided an additional boost to the precious metal.Data from the US released on Friday revealed that the country's labor market remained solid, but the rising unemployment rate confirmed expectations that the Federal Reserve (Fed) will cut interest...
Silver (XAG/USD) strengthened in the European session on Monday above $31.20 troy ounce. The metal is supported by its dual role as an industrial metal and a precious metal as a safe haven asset. The latest economic data from China provided mixed signals, with the Consumer Price Index (CPI) posting its smallest increase in five months while the Producer Price Index (PPI) showed signs of improvement. These indicators point to moderate stability in China, the world's largest silver consumer, which provides additional support for the metal. Source: newsmaker.id