Gold prices (December 24th) in the European session were stable at $4,491 ahead of Christmas Day tomorrow, with the market closing early tonight. Gold prices surged past $4,500 per ounce for the first time, while silver, platinum, and palladium also hit record highs. This increase was driven by surging demand for safe haven assets amid geopolitical and global trade risks, as well as expectations of further US interest rate cuts in 2026. Investors flocked to precious metals as a hedge.According to analysts, this trend is reinforced by the de-globalization narrative, where gold and precious...
Fundamentally, Brent crude oil is trending higher today, hovering around USD 63 per barrel, continuing its rebound from its lows in recent weeks. The main catalyst was the OPEC+ meeting, which decided to maintain current production levels until at least the first quarter of 2026, rather than increasing supply to the market. This "hold-on" stance was interpreted by the market as an effort to prevent oversupply amid already high global inventories and a slowing demand outlook, thus supporting prices after previous pressure. However, looking at the bigger picture, Brent's trend throughout this...
Gold (XAU/USD) maintained its intraday gains near a two-week high heading into Friday's European session, with investors awaiting a sustained move. The increasing likelihood of a US Federal Reserve (Fed) interest rate cut in December proved to be a key factor continuing to benefit the non-yielding yellow metal. Source: Newsmaker.id
World oil prices are approaching their longest monthly decline since 2023. Brent is stable above $63 per barrel and WTI is around $59, with both expected to post a fourth consecutive month of declines in November. Pressure stems from expectations of a global oversupply after OPEC+ reopened production capacity, coupled with increased production from countries outside the alliance. JPMorgan estimates the market could experience a surplus of around 2.8 million barrels per day next year. Market focus is now on Sunday's OPEC+ meeting, which is likely to maintain its plan to temporarily halt...
Silver prices are currently trending in the gold direction, supported by expectations that the Federal Reserve will cut interest rates in the coming months. The prospect of lower interest rates typically benefits precious metals by suppressing bond yields and making non-interest-bearing assets like silver relatively more attractive. Furthermore, the recent weakening of the US dollar has also helped silver prices remain at relatively high levels, as the metal is traded in dollar denominations. From a fundamental perspective, silver has two main drivers: as a precious metal (a safe haven, an...
In the morning session in Singapore at around 7:36 a.m., gold prices were recorded as having risen 0.7% to $4,187 per ounce, while the Bloomberg Dollar Spot Index was flat, indicating no significant pressure from the strengthening dollar. Gold prices were stable but remained on track to rise for the fourth consecutive month. In Asian trading on Friday (November 28th) morning, positive sentiment stemmed from expectations that the Federal Reserve would cut interest rates next month. Comments from several Fed officials and the delayed release of economic data have made the market increasingly...