Gold prices breached $4,200 per ounce for the first time on Wednesday, extending a record rally as rising interest rate cut bets and geopolitical jitters send investors flocking to the safe-haven metal. Spot gold rose 1.3% to $4,195.35 per ounce as of 1:57 p.m. ET (1757 GMT), after hitting an all-time high of $4,217.95 earlier. U.S. gold futures for December delivery settled up 0.9% to $4,201.60. "The metal has been on a tear, and it doesn't look like it wants to stop With U.S.-China trade tensions being reignited in the last few days, investors have even more reason to hedge their long...
Oil prices fell on Wednesday to a five-month low due to escalating US-China trade tensions and the International Energy Agency's (IEA) prediction of a supply surplus in 2026. Brent crude fell 48 cents, or 0.8%, to $61.91 per barrel. US West Texas Intermediate (WTI) crude fell 43 cents, or 0.7%, to $58.27. This was the lowest close for both benchmarks since May 7, for the second straight day. Bank of America said Brent could fall below $50 per barrel if US-China trade tensions escalate while OPEC+ production increases. The world's two largest oil consumers have renewed their trade war over...
Global gold prices remain near all-time highs amid escalating trade tensions between the United States and China, as well as market confidence that the Federal Reserve will cut interest rates again this year. This week alone, gold prices have risen nearly 5% and reached a record $4,218.29 per ounce on Wednesday. This increase is a continuation of the strong rally since mid-August. Expectations of interest rate cuts have made gold increasingly attractive because the precious metal does not yield interest, but its value tends to stabilize amid uncertainty. Fed Chairman Jerome Powell signaled...
World oil prices rose after US President Donald Trump said that Indian Prime Minister Narendra Modi planned to halt oil purchases from Russia. This move could tighten global supply, as India is a major buyer of discounted Russian oil. However, Trump said India cannot halt the purchase immediately and did not provide a specific timeline for when it would begin. India and China have been benefiting from cheap oil from Russia through price caps established by the G7 nations. However, the United States has begun pressuring India, which it considers to be benefiting too much. In fact, Indian...
Silver held around $53 per ounce on Thursday, holding close to record highs hit earlier in the week as a global supply crunch fueled a historic rally. Tightness was most acute in the London market, where a short squeeze sent lease rates surging over 30% last week, driving rollover costs for short positions to unsustainable levels. Demand from India has further strained supply, prompting several mutual fund houses to suspend inflows into their silver ETF fund-of-fund schemes. Meanwhile, dovish remarks from Fed Chair Powell, who pointed to labor market weakness, strengthened bets on more US...