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...
Silver price slides over 2% to near $35.85 during European trading hours on Friday. The white metal faces a sharp selling pressure due to improvement in trade relations between the United States (US) and China and no signs of Israel-Iran truce violation. During the European trading session, a spokesperson from the Chinese Ministry of Commerce confirmed that Beijing has agreed to expedite exports to rare earths to the US, while Washington will revoke non-tariff barriers. Meanwhile, an increase in Federal Reserve (Fed) dovish bets due to tensions between Donald Trump and Chair Jerome Powell...
Gold fell to $3,280 an ounce on Friday, hitting a four-week low, as fading geopolitical risks and easing concerns about a prolonged trade conflict dampened demand for the safe-haven asset. The U.S. and China are finalizing details of their London trade deal, which will implement the Geneva consensus. Meanwhile, investors continue to assess the prospects for a Fed rate cut, with reports suggesting President Trump may announce his Fed chair nominee as early as September or October, likely favoring a candidate who supports looser monetary conditions. Source: Newsmaker.id
Gold prices were trading around $3,320 per ounce on Friday afternoon, pressured by stronger-than-expected US economic data. A decline in jobless claims and a surge in durable goods orders fueled concerns that the Federal Reserve might delay interest rate cuts. This reduced the appeal of gold, which tends to strengthen when interest rate prospects fall. Despite increasing fundamental pressures, geopolitical and political uncertainty in the US still supports demand for gold as a hedge. The market focus is now on the PCE inflation data to be released tonight. Technically, gold is still holding...
Gold (XAU/USD) attracted some buyers for the second straight day on Thursday (6/26) and maintained its positive bias through the first half of the European session. The US Dollar (USD) selling remained unabated amid reports that US President Donald Trump is considering replacing Federal Reserve (Fed) Chairman Jerome Powell, which raised concerns about the central bank's future independence. Also, bets that the Fed will resume its rate-cutting cycle as early as July dragged the USD to a more than three-year low and benefitted the non-yielding yellow metal. Source: Newsmaker.id
Silver prices are currently around $36,366, recording moderate gains in the early session on Thursday (6/26) as the US Dollar weakens and Treasury bond yields decline. Market sentiment tends to be cautious but still shows interest in safe-haven assets such as silver, especially amid uncertainty over US tariffs and the direction of the Fed's monetary policy. Technically, silver is still above the support of the medium-term rising channel, with momentum starting to stabilize even though the RSI indicator shows conditions approaching overbought. Source: Newsmaker.id