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 maintained support and showed a modest recovery from a four-week low reached during the Asian session on Friday. The white metal is currently trading around the $31.35 region, up over 0.30% for the day, although there was no follow-through buying as traders eagerly await the release of the US Personal Consumption Expenditures (PCE) Price Index.As of this writing, silver is trading at $31,197 Source: Newsmaker.id
Silver prices continue to face selling pressure. The white metal fell nearly 0.3% on Thursday (27/2) as US Treasury yields have bounced back after six consecutive days of declines. Meanwhile, US President Donald Trump's tariff agenda continues to support Silver prices. On Wednesday, Trump reiterated threats to impose 25% tariffs on cars and other goods imported from the Eurozone. Source: Newsmaker.id
Gold prices fell to their lowest in more than two weeks on Thursday (27/2) as the U.S. dollar strengthened, with investors awaiting key inflation data that could shed light on the Federal Reserve's monetary policy path. Meanwhile, U.S. President Donald Trump said on Thursday that his proposed tariffs on imports from Mexico and Canada would go into effect on March 4 as scheduled, adding that China would be hit with an additional 10% on that day. Source: Newsmaker.id
Silver maintained its recent decline to around $31.7 an ounce in late February amid strong demand and supply uncertainty. Profit-taking also weighed on silver prices, although the metal is still up about 10% this year. Hecla Mining Company, the largest U.S. silver producer, reported a 13% increase in silver production for 2024, mining 16.2 million ounces moz, the second-highest production level in its 134-year history. On the demand side, purchases of U.S. silver coins fell 27% year-on-year in January to 3.5 moz, the lowest January demand since 2018. Meanwhile, weak U.S. economic data...
Gold weakened to the area of $2886 per troy ounce on Thursday (27/2) at the beginning of the European session, this was supported by the strengthening of the US dollar and rising Treasury yields. Meanwhile, on Wednesday, US President Donald Trump said his administration would impose a 25% tariff on the EU, while a White House official later said the deadline for Canadian and Mexican tariffs remained March 4 and Trump had not decided whether to grant another extension. This is still a factor in the increase in this Precious Metal in the long term. The price of gold when this news was...