Oil prices settled higher on Tuesday after a choppy session as traders weighed the impact of Western sanctions on Russian oil flows, as well as U.S. President Donald Trump saying his administration had started interviewing for the next Federal Reserve chair. Brent crude settled up 69 cents, or 1.07%, at $64.89 a barrel. U.S. West Texas Intermediate crude was up 83 cents, or 1.39%, to $60.74. U.S. crude futures briefly rose by more than $1 a barrel in afternoon trade to a session high of $60.92 after Trump announced the Federal Reserve chair interviews. Trump has been vocally critical of...
Gold reversed part of its three-day negative streak, although faltering just ahead of the $4,100 mark per troy ounce amid the broad-based risk-off environment, lower US Treasury yields and shrinking bets for an interest rate cut by the Federal Reserve at its December meeting. Gold prices rose to around $4,070 per ounce on Tuesday, halting a three-day losing streak as traders stayed cautious ahead of a packed US data calendar. With delayed releases due this week, notably the payrolls report on Thursday and the Fed's minutes on Wednesday, investors are wary that incoming prints could...
Silver (XAG/USD) edges higher on Tuesday, trading around $50.70 at the time of writing, up 1.00% on the day. The precious metal is supported by a broad risk-off tone across markets, with investors favoring safe-haven exposure as risk assets come under pressure. This cautious mood comes ahead of long-delayed US economic releases, most notably the September Nonfarm Payrolls (NFP) report scheduled for Thursday. Global equities are broadly lower, fueling demand for defensive assets. Investors remain hesitant as the flow of US macroeconomic indicators has been disrupted in recent weeks,...
Oil steadied as traders weighed a report showing rising US stockpiles against concerns about the fallout from sanctions on Russia. West Texas Intermediate traded below $61 a barrel, after gaining more than 1% on Tuesday, when Brent closed near $65. The industry-funded American Petroleum Institute reported a 4.4 million barrel increase in US crude inventories, as well as builds in products. That would take oil inventories to the highest in more than five months, if confirmed by official data. US sanctions against Russian producers Rosneft PJSC and Lukoil PJSC are set to kick...
Gold steadied as investors weighed a decline in global equities, unease over lofty tech valuations and fading expectations of an interest-rate cut in the US. Bullion was trading around $4,070 an ounce, having ended the previous session up 0.6%. A high-stakes earnings report from Nvidia Corp. due Wednesday will test investors' nerves over stocks linked to artificial-intelligence developments. While gold often performs well when investors seek refuge from market turmoil, it can also suffer in the short term as traders are forced to unwind leveraged positions. Comments by several...