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 rose on Wednesday (4/9) and was set for its best day since March 2023, supported by a weaker dollar and safe-haven inflows amid escalating US-China trade tensions after Beijing announced more levies on US goods. Investors worried that tariffs will stoke inflation and hamper economic growth dumped stocks, industrial commodities and sought refuge in gold. Source: Newsmaker.id
Gold (XAU/USD) prices soared and recovered to $3,063 at the time of writing on Wednesday after US President Donald Trump's tariffs went into effect. At one point this week, the market was hoping for a last-minute solution as several news outlets reported on Monday that President Trump was considering a 90-day tariff pause for all countries except China. However, the White House stated that any suggestion that President Trump was considering a 90-day tariff pause was "fake news." Source: Newsmaker.id
Silver (XAG/USD) prices recovered from losses during Asian trading hours on Wednesday. Analysts believe that the recent correction could be a setup for a strong rebound amid rising trade tensions and recession fears. Traders are gearing up for the FOMC Minutes, due out on Wednesday.US President Donald Trump said late Tuesday that he is not considering abandoning his plan to impose extensive additional tariffs on dozens of countries despite contacts from trading partners seeking to avoid the levies. However, he hinted that he may be open to some negotiations.Until this news was released,...
Gold prices were steady early in the Asian session on Wednesday (9/4) as traders braced for the US to raise tariffs on Chinese goods to as high as 104%, a move that Beijing is expected to retaliate against as hopes fade that a brutal global trade war can be avoided. The precious metal still looks to have more to gain, having risen more than 13% this year on central bank buying and inflows into exchange-traded funds. Markets are also betting that rising volatility could prompt the Federal Reserve to accelerate interest rate cuts to stave off a recession. Lower interest rates typically...
Silver prices fell below $30 an ounce on Tuesday (08/4), following increased volatility as investors continue to navigate shifting global trade dynamics and their impact on economic expectations and tariffs. The precious metal came under pressure last week amid broad risk-off sentiment, as fears of a tariff-driven global recession sparked a wave of liquidation across asset classes. Source: Newsmaker.id