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 weakened to around $3,290 per ounce on Friday (August 1) and were on track for their worst weekly performance since late June, pressured by a stronger US dollar following President Trump's imposition of higher tariffs on several countries. Trump reaffirmed the global base tariff of 10% and imposed retaliatory duties of up to 41% on countries that do not have trade agreements with the US. He also announced a 40% levy on goods suspected of being routed through third countries to avoid existing tariffs. Source: Newsmaker.id
Gold futures traded flat at around $3,308 per troy ounce, after previously weakening following the Federal Reserve's decision to hold interest rates. The Fed cited the risk of inflation due to tariffs as the primary reason, reinforcing the prospect of prolonged high interest rates, which typically dampens gold's appeal. The strengthening of the US dollar over the past week has also been a major factor weighing on gold prices. A stronger dollar makes gold more expensive for global buyers and reduces its appeal as a safe-haven asset. Gold prices at the time of writing were at...
hours on Thursday, bolstered by a weaker US Dollar (USD). Investors brace for further development surrounding US President Donald Trump's tariff policy on major trade partners. Trump late Wednesday announced a new trade deal with South Korea, stating that the United States (US) would charge a 15% tariff on imports from South Korea. The agreement includes a $350 billion commitment from South Korea toward US-owned and controlled investments. Also, Investors continue to assess the 25% duties on imports from India, along with an unspecified "penalty." Any signs of tariff uncertainty or renewed...
Gold prices rebounded on Thursday (July 31) from a one-month low reached in the previous session, as trade uncertainty sparked by the announcement of new US tariffs increased bullion's appeal, even as expectations of a US interest rate cut in September eased. Source: Newsmaker.id
Gold edged up to $3,330/oz in European trading on Wednesday (July 30th), supported by falling US Treasury yields and a weakening US dollar. The Fed is widely expected to hold interest rates, despite US President Donald Trump's continued calls for a rate cut. The market still expects a potential rate cut in September. Meanwhile, investors await the Federal Reserve's policy statement, which will be released today, for guidance on the direction of future monetary policy. Gold prices at the time of writing were at $3,330/oz. DISCLAIMER Note: This article is analytical only and is...