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...
In this morning's session, gold prices remained stable at around $3,334 per ounce, reflecting investors' cautious steps towards geopolitical news and global monetary policy. The ceasefire between Israel and Iran is still being maintained, easing concerns about the escalation of conflict in the Middle East, thus reducing the urge for safe-havens such as gold. However, the pressure on the weakening dollar and the prospect of US-Iran diplomatic talks provide fundamental support that restrains selling pressure. The initial signal from the Federal Reserve to cut interest rates—which is not the...
Gold steadied as traders weighed a truce in the Middle East and weak US economic data that fueled hopes for Federal Reserve interest-rate cuts. Bullion traded little changed near $3,330 an ounce, after closing down 1.3% on Tuesday. The truce between Israel and Iran appeared to hold, easing demand for haven assets, after US President Donald Trump lashed out at both sides for early breaches. Meanwhile, US data showed consumer confidence has declined unexpectedly in June, signaling ongoing anxiety about tariff-driven impacts on the economy and the jobs market. That...
Silver prices rose during the Asian session on Wednesday (6/25) as a weaker US Dollar (USD) provided some support to the USD-denominated commodity. Traders are preparing for Federal Reserve (Fed) Chairman Jerome Powell who will testify later on Wednesday. In addition, Investors are also closely monitoring developments surrounding the Israel-Iran conflict. Israeli Prime Minister Benjamin Netanyahu said the country would strike again if Iran rebuilds its nuclear project. Any sign of escalation could boost the price of the precious metal in the near term. Source: Newsmaker.id
Gold prices remain in a downtrend after a fragile ceasefire between Iran and Israel eased geopolitical tensions in the Middle East, reducing demand for safe haven assets. Gold was trading almost unchanged at around $3,325 per ounce in early Asia, after closing down 1.3% the previous day. Although the conflict has eased, global uncertainty, trade tensions, and expectations of interest rate cuts remain supporting factors for gold prices which have risen 27% so far this year. On the other hand, weakening US consumer confidence in June added to market concerns about the economic impact of...
Gold fell as haven demand ebbed after US President Donald Trump announced that Israel and Iran had agreed to a ceasefire. Bullion fell as much as 1.6% to below $3,320 an ounce on Tuesday. Trump, who made the surprise announcement on his Truth Social platform days after ordering airstrikes on Iran's nuclear facilities, said the accord is aimed at a lasting end to the fighting and warned against violations. Israeli Prime Minister Benjamin Netanyahu confirmed later that his country has agreed to a truce after achieving its war goals in Iran. Rising haven demand because of...