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 slumped below $2,900 an ounce on Thursday, extending its decline from Monday's record high of $2,950, pressured by a stronger U.S. dollar. Meanwhile, investors are also assessing uncertainty over tariffs ahead of key U.S. data. On Wednesday, President Trump added to the confusion over tariff prospects for Canada and Mexico, suggesting they would take effect on April 2 instead of the previously set March 4 deadline, while also proposing a "reciprocal" 25% tariff on cars and European Union goods. Markets are also closely watching a slew of U.S. economic data due later in the day,...
Geopolitical instability or fears of a deep recession could see Silver prices rise due to its safe haven status, albeit to a lesser extent than Gold. As a non-yielding asset, Silver tends to rise with lower interest rates. Its movement also depends on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong dollar tends to hold Silver prices down, while a weaker dollar tends to push prices up. Other factors such as investment demand, mining supply, Silver being much more abundant than Gold and recycling rates can also affect prices. Until this news was released,...
Silver (XAG/USD) price halted its three-day losing streak, trading near $31.90 per troy ounce during the US session on Wednesday (4/26). Technical analysis on the daily chart shows a growing bearish outlook, with the metal trading below the lower boundary of its ascending channel pattern. Source: Newsmaker.id
Gold prices tried to recover from losses on Wednesday (26/2) after recording a recent record rally, while investors await inflation data due later this week and the latest developments on US President Donald Trump's tariff plans. Trump ordered an investigation into potential new tariffs on copper imports to rebuild US production of the metal that is essential for electric vehicles, military hardware, the power grid and many consumer goods. Source: Newsmaker.id
Silver prices fell to around $31.60 an ounce on Wednesday, marking a fourth straight decline 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 per ounce, 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 $3.50 an ounce per ounce, the lowest January demand since 2018....