Global silver prices have the potential to trend upward today, amid pressure from a strengthening US dollar and changing market expectations regarding the Fed's interest rate policy. Market participants have begun to reduce expectations of an interest rate cut at the December meeting, after several Fed officials struck a more cautious tone regarding the need for policy easing. As the chances of an interest rate cut narrow, yields on interest-bearing assets become relatively more attractive, and precious metals like silver are under pressure. On the other hand, silver is not only viewed as a...
Gold prices slipped slightly Monday, extending losses from the prior session as traders steadily pared back expectations that the Federal Reserve will cut interest rates next month. At 07:55 ET (12:55 GMT), Spot gold fell 0.1% to $4,078.60 an ounce and gold futures for December fell 0.3% to $4,081.06/oz. Bullion has been pressured of late, losing over 3% over the last month, pressured by a stronger dollar amid bets on delayed rate cuts and heightened economic uncertainty. Markets are now pricing in just over a 40% chance of a 25-basis-point rate cut next month, down from over 60% earlier...
Oil reversed earlier losses as signs that activity had resumed at a key Russian port were countered by wider geopolitical risks to prices. Brent was marginally higher above $64 a barrel, after adding more than 2% on Friday following an attack on Russia's Novorossiysk facility. Two tankers moored on Sunday at the port, indicating operational activity. The attack on Novorossiysk, along with Iran's seizure of an oil tanker near the Strait of Hormuz, injected a fresh geopolitical premium into prices as the market faces pressure from an emerging global surplus. Traders are also...
Gold prices fell more than 1% on Monday, pressured by a stronger dollar and diminishing expectations of a US interest rate cut next month, as investors awaited delayed economic data this week that could provide clues about the Federal Reserve's policy direction. At the time of writing, XAU/USD was trading at $4,030, weakening throughout the trading session due to the stronger dollar and hawkish comments from Federal Reserve officials. Therefore, currency markets have priced in less than a 50% chance of a 25 basis point (bps) interest rate cut at the December meeting. As a result, the US...
Oil prices are expected to decline through 2026, Goldman Sachs said on Monday, citing a production surge that will keep the market in a large surplus of around 2 million barrels per day. The bank forecast Brent crude will average $56 a barrel and WTI $52 in 2026, below current forward curves of $63 and $60. "The 2025-2026 supply wave mostly results from long-cycle projects that saw Final Investment Decisions (FIDs) just before the pandemic, got delayed during Covid, and are now all coming online and from OPEC's strategic decision to unwind production cuts," the bank noted. OPEC+, or the...