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...
After a sharp rally to a 13-year high in early June, silver has undergone a healthy correction: down from around USD36–36.4/oz to the USD35.8–36.2/oz area today. Such a move is common after a major rally, when market players take profits. Market players adopted a wait-and-see position before the release of the US Non-Farm Payroll (NFP) data. The focus shifted to gold as a safe-haven, so that silver experienced a stagnant correction. In the short term, silver prices are still supported by a supply deficit, strong industrial demand, and safe-haven flows.
Global gold prices are holding steady in the positive area at around $3,343 per ounce after rallying 2% in the previous two sessions. Currently, the market is taking a wait-and-see attitude ahead of two major agendas from the US: the House vote on Trump's tax bill and the release of June employment data. Although the US dollar strengthened slightly, positive sentiment towards gold remained intact as fiscal concerns, geopolitical tensions, and the direction of trade policy are still the main concerns of investors. Additional support came from central bank purchases and fund flows into...
Silver's move now focuses on upcoming labor market data, including the ADP private payrolls report due on Wednesday and the key June jobs report on Thursday, for further signals on the economic outlook and potential Fed policy moves.At the time of writing, silver was trading at $36,025/Toz. Source: Newsmaker.id
The Silver price (XAG/USD) edges lower to around $36 during the Asian trading hours on Wednesday, pressured by a modest rebound in the US Dollar (USD). Traders will take more cues from the release of the US ADP Employment Change report for June, which is due later on Wednesday. The Greenback receives support from a better-than-expected increase in labor market demand. This, in turn, exerts some selling pressure on the USD-denominated commodity price, as a firmer USD makes Silver more expensive for foreign buyers. Additionally, rising demand for industrial uses might contribute to silver's...
Silver prices are at $36,118 per ounce, reflecting a consolidation phase after a strong rally that took it to a record 13 years ago. Fundamentally, the weakening US Dollar and expectations of an interest rate cut by the Fed provide support for demand for safe-haven assets such as silver. In addition, strong industrial demand, especially from the renewable energy and electronics sectors, which account for more than 50% of global consumption, also support prices. Source: Newsmaker.id