Oil prices closed higher on Tuesday (December 24th) as investors assessed stronger-than-expected US economic growth and the risk of oil supply disruptions from Venezuela and Russia. Brent crude futures closed up 31 cents, or 0.5%, at $62.38 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose 37 cents, or 0.64%, to $58.38. Prices had risen more than 2% on Monday, with Brent posting its biggest daily gain in two months and WTI rising the most since November 14th. The U.S. economy grew faster than expected, driven by strong consumer spending, the Commerce Department's Bureau of...
Gold prices rose to a record high, breaking through $4,500 an ounce for the first time, amid rising tensions in Venezuela and expectations of further US interest rate cuts next year. Bullion prices rose more than 0.5%, extending their three-day rally. Tensions in Venezuela, where the US has blocked oil tankers, have boosted the precious metal's appeal as a safe-haven asset as it heads for its best annual performance since 1979. Traders are also betting that the US Federal Reserve will continue its three consecutive interest rate cuts by lowering borrowing costs again next year, which would...
Oil prices continued their five-day rally on Tuesday (December 23), as traders weighed rising geopolitical tensions and higher inventory data. West Texas Intermediate (WTI) traded around $58 per barrel, after posting a nearly 6% gain in the previous five sessions, while Brent closed above $62 per barrel. One factor driving oil prices is the US action against Venezuela, which is currently pursuing a third oil tanker off the coast of the country. The US government is increasing pressure on the government of Nicolás Maduro, exacerbating tensions in the region and adding uncertainty to the oil...
The Australian Dollar (AUD) continued to strengthen against the US Dollar (USD) on Wednesday, posting gains for the third consecutive day. The AUD's strength was driven by the release of the Reserve Bank of Australia (RBA) Meeting Minutes, which indicated growing doubts that Australia's monetary policy remains sufficiently tight. This reinforced expectations that the Reserve Bank of Australia (RBA) will raise interest rates in February 2026. Australian inflation rose to 3.8% in October 2025, slightly higher than the previous month's 3.6% and remaining above the RBA's target range of 2-3%....
Silver prices continued to soar, reaching $72.22 per ounce on December 24, 2025, setting a new all-time high in the precious metals market. This surge reflects strong demand from both the investment and industrial sectors, as well as expectations that global monetary policy will loosen further in the future. Investors are increasingly turning their attention to silver as a safe haven asset amid geopolitical and economic uncertainty. Global demand for silver, particularly from the renewable energy, electronics, and automotive sectors, is increasing. Furthermore, geopolitical tensions and...