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 again on Thursday (November 6th), driven by increased demand as a safe-haven asset amid geopolitical and economic uncertainty, a wave of central bank buying strengthening structural support, and expectations of an interest rate cut by the Federal Reserve, which lowered real yields, making the precious metal more attractive. (alg) Source: Newsmaker.id
Silver prices rose on Thursday (November 6th) as industrial demand from the technology and renewable energy sectors surged, mining supply failed to keep pace, and expectations of a Federal Reserve interest rate cut made non-yielding assets like silver more attractive. (alg) Source: Newsmaker.id
Gold is trading sideways around $3,980/oz, near a four-week low. The ADP data, which added 42,000 jobs, and the ISM Services PMI, which hit an eight-month high, have led the market to lower bets on a Fed rate cut, in line with Powell's hawkish tone and inflation remaining above target. At the same time, global risk appetite has improved, reducing interest in gold as a safe haven. In the short term, prices are likely to remain consolidative while awaiting new signals from Fed officials' comments and subsequent data releases. At the time of this analysis, the gold price was around...
Gold prices held around $3,940 per ounce on Wednesday, holding some of the previous session's decline and nearing their lowest level since early October. Expectations of a US interest rate cut faded after several Fed officials adopted a cautious stance, in line with Powell's hawkish tone last week, who suggested the latest cut could be the last this year. The probability of a December cut is now around 69%, down from 90% before the FOMC decision. Market focus shifts to the ADP private employment report as the official data release is delayed due to the federal government shutdown....
Silver prices were stable during the Asian session, pressured by a strengthening US dollar and global market restrictions. Silver was trading around $47.15 per ounce, with many investors choosing to wait for further economic data before making major decisions. Despite demand from the industrial sector, concerns about a further global market downturn and a strengthening dollar have made it difficult for silver to strengthen.However, silver remains attractive to some investors seeking a safe haven amid geopolitical tensions and economic shutdowns. Some analysts see potential for a rebound in...