The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to reduce risk in large cap stocks. Among the index's contributors, Tencent was a major drag, with its shares falling by around 2.3%, putting pressure on the technology sector, which has recently been a driving force behind market gains. Weakness in large cap companies like this typically quickly impacts sentiment due to their significant weighting in...
Global oil prices remain strong as market participants await US President Donald Trump's next move on Venezuela. West Texas Intermediate (WTI) held steady above $59 per barrel after previously rising 1.3%, while Brent hovered near $63 per barrel. Market sensitivity grew after Trump held a meeting on Venezuela on Monday night, as US troops reportedly massed in the region and pressure on Nicolas Maduro's government intensified. This escalating situation has made the market cautious and added a risk premium to oil prices. These geopolitical concerns partly overshadow other concerns about the...
Oil prices rose more than 1% on Monday (December 1st) following a drone attack by Ukraine, the closure of Venezuelan airspace by the United States, and OPEC's decision to leave production levels unchanged for the first quarter of 2026. Brent crude closed at $63.17 per barrel, up 79 cents, or 1.27%. U.S. West Texas Intermediate crude closed at $59.32 per barrel, up 77 cents, or 1.32%. "The market is very nervous right now about the possible loss of Russian crude oil supplies," said John Kilduff, partner at Again Capital LLC. "They're watching closely to see if this Russia-Ukraine deal will...
Gold (XAU/USD) continued its rally for the second consecutive trading session on Monday (December 1), rising more than 0.40% as currency markets anticipate a Federal Reserve (Fed) interest rate cut next week. Meanwhile, a weaker US dollar kept the yellow metal hovering around $4,240 at the time of writing, having reached a five-week high of $4,264. Gold bullion remains strong despite the risk of BoJ tightening and weakening physical demand in China. The yellow metal remains bullish, but central bank tightening, particularly from the Bank of Japan (BoJ) following comments by Governor Kazuo...
Silver surged to a new high on Monday (December 1), with traders placing speculative bets on ongoing supply tightness. Gold weakened slightly. The white metal rose to $58.23 an ounce after surging nearly 6% on Friday. Its price has risen for six consecutive sessions and has nearly doubled in value this year, outpacing gold's rally by about 60%. Silver balances reached a record high in October, easing historic pressures in the world's largest metals trading center, but this has put pressure on other trading centers. Inventories in warehouses connected to the Shanghai Futures Exchange...
Gold prices rose to a six-week high on Monday (December 1), supported by growing expectations of a US interest rate cut and a weaker dollar, while silver hit a record high ahead of key US economic data. Spot gold rose 0.1% to $4,233.83 an ounce, as of 11:15 a.m. ET (16:15 GMT), its highest level since October 21. US gold futures for February delivery rose 0.3% to $4,266.60. Silver rose 3.1% to $58.09 an ounce, after hitting an all-time high of $58.23 earlier. The precious metal has gained more than 100% so far this year. The US dollar fell to a two-week low, making gold more affordable...