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...
Oil prices continued their decline heading into Friday's European session, amid concerns about fuel demand in the United States outweighing the prospect that the Federal Reserve's first interest rate cut this year will stimulate higher consumption, and U.S. President Donald Trump's recent call for lower prices to pressure Moscow to end the war in Ukraine weighed on renewed attacks on Russian energy infrastructure. However, both oil benchmarks are still on track to close higher for the second consecutive week. Brent crude oil price at the time of writing is...
Silver strengthened to around $41.90 due to the impact of the Fed's interest rate cut. Lower interest rates lower the opportunity cost of holding silver, making it more attractive. Sentiment is also supported by global demand-particularly for solar panels (photovoltaics), which are largely driven by China-as well as purchases of silver ETFs by Saudi Arabian sovereign wealth funds and the prospect of a weakening US dollar. However, silver's gains could be restrained if the appetite for safe havens wanes. Easing geopolitical tensions, such as hopes for progress in the Russia-Ukraine dialogue...
Gold is currently correcting after initially surging following the Fed's 25 bps interest rate cut. Jerome Powell's "meeting-by-meeting" and less dovish statements have raised market doubts about the pace of future rate cuts, thus easing interest in gold. Furthermore, the US dollar strengthened following Powell's comments. A stronger dollar typically puts downward pressure on gold prices because it makes them more expensive for buyers outside the US. As a result, gold is now about $60 below its record high. The price of gold at the time of writing is $3,653/Toz. DISCLAIMER Note: This...
Gold corrected after hitting a record $3,707/oz: The Fed's 25 bps cut is already priced in, Powell's tone is cautious, the USD strengthens, the bullish impulse subsides, and profit-taking takes hold. Key levels: resistance $3,680–$3,700 (ATH $3,707), support $3,650/$3,640, then $3,610–$3,600. With expectations of further cuts already partially priced in, the bullish impulse has temporarily subsided. The gold price at the time of writing was $3,639/oz. DISCLAIMERNote: This article is for analytical purposes only and is not a definitive reference. Consider fundamental and technical...
Silver prices are rising again, as the US dollar rally begins to lose steam amid calmer risk sentiment.At the time of this analysis, silver prices were at $41,858 Source: Newsmaker.id