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...
Brent crude oil prices rose to around $66.43 per barrel in Wednesday afternoon trading during the European session (October 1). This increase occurred after two consecutive days of declines, as market participants began anticipating the OPEC+ decision at this weekend's meeting. There is speculation that OPEC+ will discuss the possibility of accelerating supply increases, although no official decision has been announced. Meanwhile, market sentiment is still clouded by the potential for a US government shutdown, which could slow economic activity and suppress energy demand. However, a sharp...
Gold prices surged to a new high of $3,875.53 per ounce, extending their rally to four consecutive days. This surge occurred as investors grew concerned about a possible US government shutdown, which could delay the release of important data like nonfarm payrolls and fuel interest in safe-haven assets like gold. So far this year, gold has risen more than 47%, heading for its biggest annual gain since 1979. Positive sentiment was driven by massive buying by global central banks and a surge in demand for gold-backed ETFs, along with expectations that the Fed will continue to cut interest...
The price of silver is currently hovering around $46 per ounce, up slightly after a correction earlier this week. This increase occurred amid cautious market sentiment, which is still monitoring the risk of a US government shutdown and the direction of the Fed's interest rates. Investors are starting to look again to silver as an alternative safe haven asset, although its movements have not been as aggressive as gold. While physical demand remains stable, silver's recent movements have been more influenced by global sentiment and inflows into precious metal ETFs. The market is also awaiting...
Gold fell on Tuesday (September 30th), pressured by a strengthening US dollar and rising Treasury yields, which increased the opportunity cost of holding non-yielding assets. After rallying to a new record above $3,800, the market was also overshadowed by profit-taking, dampening buying momentum. On the policy front, the market is reassessing the timing of the Fed's interest rate cut, resulting in a decline in risk appetite for riskier assets while reducing flows into hedge funds. Looking ahead, the focus is on the Fed's signals and the release of US data that could alter expectations of an...
Gold hit another record high of $3,854 per ounce, driven by concerns over a potential US government shutdown, prompting investors to seek safe-haven assets. So far this year, gold prices have risen 46%, marking their best annual rate since 1979. Meanwhile, Treasury yields maintained their gains after a previous rally, and the US dollar strengthened slightly following President Donald Trump's decision to impose a 10% tariff on lumber imports. In Asia, stocks rose 0.2%, marking their sixth consecutive month of gains, with Zijin Gold International surging 66% on its Hong Kong trading...