Silver price (XAG/USD) falls to near $29.30 in Tuesday's European session, though it remains inside Monday's trading range amid thin trading volume due to holidays on Wednesday and Thursday on account of Christmas Eve and Thanksgiving Day. The white metal is broadly under pressure as the Federal Reserve (Fed) has guided a moderate hawkish stance on the monetary policy outlook. The Fed has shifted from "dovish" to "cautionary" on interest rates as progress in the disinflation trend has stalled in the last three months, and labor market conditions are not as bad as they appeared in the...
Gold faces a two-way risk in 2025, with the Fed's monetary policy decisions, Trump's economic and foreign policies, and geopolitical developments becoming the main drivers. Bearish scenarioA de-escalation of geopolitical tensions in the Middle East and/or a resolution to the Russia-Ukraine crisis could trigger a sharp downward correction in Gold prices, given how much the precious metal benefited from these conflicts throughout 2024. Trump's "America First" approach suggests that his administration will be focused on domestic policies and possibly not prioritize international affairs. In...
Gold edges higher in early Asian trade. In the short- and medium-term, prices may experience fluctuations and volatility as there is no overall driving force amid the holidays, analysts at Nanhua Futures write in a note. For now, markets continue to expect the Fed to keep rates on hold in January, they add. Spot gold is 0.2% higher at $2,620.85/oz. Source: Bloomberg
Oil rose as stimulus measures in China may help to bolster demand, and a US industry report flagged another drop in stockpiles. Brent climbed toward $74 a barrel after a 1.3% gain on Tuesday, with West Texas Intermediate above $70. In a bid to bolster growth, China is giving local officials more leeway in how they invest proceeds of government bonds, while keeping interest rates steady for now. Policymakers pledged a "moderately loose" monetary stance in the top crude importer earlier this month. Source: Bloomberg
Oil held steady after a rally, with stimulus measures in China and a U.S. industry report that signaled another draw in stockpiles in focus. Brent traded below $74 a barrel after rising 1.3% on Tuesday, with West Texas Intermediate nearing $70. In a bid to boost growth, China has given local officials more freedom in how they invest government bond proceeds, while keeping interest rates unchanged for now. Policymakers pledged a "moderately loose" monetary stance in the top crude importer earlier this month. In the U.S., the American Petroleum Institute said commercial crude inventories...