Gold prices hit a nearly three-week high on Tuesday (November 11), boosted by expectations that a potential end to the US government shutdown and a restart of economic data could pave the way for the Federal Reserve to cut interest rates next month. Spot gold prices rose 0.3% to $4,126.77 an ounce at 3:13 p.m. ET (2013 GMT), after earlier hitting their highest level since October 23. US gold futures for December delivery fell 0.1% to $4,116.30 an ounce. Gold, traditionally considered a safe-haven asset, also tends to benefit in a low-interest-rate environment because it is a non-yielding...
Oil prices rose by about $1 on Tuesday (November 11), boosted by the impact of the latest US sanctions on Russian oil and optimism over a potential end to the US government shutdown, although oversupply concerns capped gains. Brent crude futures closed up $1.10, or 1.72%, at $65.16 a barrel. US West Texas Intermediate crude rose 91 cents, or 1.51%, to $61.04 a barrel. Investors continue to monitor the impact of US sanctions on Russia and their impact on crude and refined fuel markets. Russia's Lukoil (LKOH.MM), opens a new tab, declared force majeure at an Iraqi oilfield it operates,...
Oil steadied following a three-day gain ahead of reports that'll shed light on the outlook for global crude market balances into 2026. West Texas Intermediate held near $61 a barrel, after rising 1.5% on Tuesday, while global benchmark Brent closed above $65. Later Wednesday, producers' alliance OPEC is due to issue its monthly market analysis, while the International Energy Agency releases its annual energy outlook. Crude has lost ground this year amid concerns that the market is headed for a surplus, with OPEC and allies including Russia restoring capacity, while drillers...
Gold rises in the morning Asian session amid prospects of Fed rate cuts, which would enhance the appeal of the non-interest-bearing precious metal. Payrolls firm ADP estimated that the U.S. private sector was shedding 11,250 jobs a week in the four weeks through Oct. 25. Economic figures from alternative sources, like ADP's, have taken on greater weight during the government shutdown. The recent weaker U.S. economic data make a Fed rate cut in December more likely, Commerzbank Research's Carsten Fritsch says in a note. "It is obviously expected that a significant slowdown in the U.S....
Global silver prices have declined recently, following a major rally at the beginning of the year. One of the main factors is profit-taking—meaning investors who previously bought during the high price are now starting to take profits and sell. In addition, slightly improving global economic conditions have led to a slight decrease in demand for safe-haven assets like silver. Meanwhile, the supply of silver from mining and recycling has not seen a significant increase, creating uncertainty for market participants. Although prices are falling, this does not mean silver's long-term prospects...