Silver traded above $44 an ounce on Thursday (September 25th), nearing a 14-year high, as increased industrial absorption and tighter physical availability outweighed stronger US macro data that lifted yields and the dollar. On the demand side, absorption from photovoltaic panels and electronics, where silver is difficult to substitute, has increased, supporting short-term consumption. On the supply side, most silver is produced as a byproduct of base metal mining and cannot expand quickly with prices; recent smelting and processing disruptions at major refining centers have reduced refined...
Gold trimmed gains on Thursday (September 25) after U.S. weekly jobless claims unexpectedly fell, while investors awaited key inflation data that could shape the Federal Reserve's next interest rate move. Spot gold rose 0.1% to $3,741.88 an ounce, as of 9:33 a.m. ET (13:33 GMT), after rising as much as 0.5% earlier in the session. Prices hit a record high of $3,790.82 on Tuesday. U.S. gold futures for December delivery rose 0.1% to $3,771.60. The number of Americans filing new applications for unemployment benefits fell last week, but the labor market has lost traction amid sluggish...
Gold trimmed earlier gains on Thursday after U.S. weekly jobless claims unexpectedly fell, while investors awaited key inflation data that could shape the Federal Reserve's next interest rate move. Spot gold rose 0.1% to $3,739.42 an ounce, as of 1:41 p.m. EDT (1741 GMT), after rising as much as 0.6% earlier in the session. Prices hit a record high of $3,790.82 on Tuesday. U.S. gold futures for December delivery closed 0.1% higher at $3,771.1. The number of Americans filing new applications for unemployment benefits fell last week, but the labor market has lost traction amid sluggish...
Oil prices held steady on Thursday after hitting a seven-week high in the previous session as Russia decided to limit fuel exports until the end of the year. However, the gains were capped by the latest US economic data that dampened optimism about further interest rate cuts. Brent crude futures closed 11 cents, or 0.16%, higher at $69.42 a barrel, while US West Texas Intermediate crude futures fell 1 cent, or 0.02%, to $64.98. Both benchmarks rose 2.5% on Wednesday, reaching their highest levels since August 1, driven by a surprise drop in weekly US crude inventories and concerns that...
The Australian Dollar (AUD) weakened against the US Dollar (USD) on Thursday, with the AUD/USD pair extending its decline for a second straight session and falling to its weakest level since September 5. This decline occurred as the greenback surged across the board after a series of stronger-than-expected US economic data bolstered confidence in the resilience of the world's largest economy and dampened risk sentiment. At the time of writing, AUD/USD was trading near 0.6536, down 0.70% on the day. Meanwhile, the US Dollar Index (DXY), which measures the greenback against a basket of six...