Oil prices edged lower on Wednesday (December 25th), and are on track for their steepest annual decline since 2020 as investors weigh US economic growth and assess the risk of supply disruptions from Venezuela and Russia. Brent crude futures closed down 14 cents, or 0.2%, at $62.24 a barrel, while US West Texas Intermediate crude futures fell 3 cents, or 0.05%, to $58.29. Both contracts have risen about 6% since December 16th, when they plunged to their lowest levels in nearly five years. "What we've seen over the past week is a combination of slight position adjustments in the market...
Gold (XAU/USD) started the year on a bullish note and registered impressive gains in the first quarter. Following a consolidation phase during the summer months, the precious metal surged higher in the third quarter and reached an all-time record high of $4,381 in October. Although XAU/USD corrected lower, buyers refused to hand over the reins heading into the holiday season. Throughout 2025, Gold set over 50 record peaks and rose more than 60%, becoming one of the best-performing commodities of the year. A combination of fundamental factors fuelled the precious metal's relentless advance,...
Spot gold prices rose slightly by 0.3% to $4,493.63 per ounce in the Asian morning session, driven by rising geopolitical risks. Tensions escalated after Israel threatened to take action against Iran, which is working to rebuild its ballistic missile arsenal. A statement from Israeli Prime Minister Benjamin Netanyahu revealed that Israel continues to monitor the activities of Hamas, Hezbollah, and Iran, with potential action if the threat becomes more real. Gold remains a top choice as a safe-haven asset, especially amid heightened global uncertainty. Joseph Dahrieh, managing director at...
Oil prices are headed for their biggest weekly gain since late October, driven by escalating geopolitical tensions. West Texas Intermediate (WTI) prices are stable above $58 per barrel, posting a gain of more than 3% this week. This price surge comes amid tensions between the US and Venezuela, where the US has tightened its blockade of oil shipments, including the pursuit of sanctioned tankers. Meanwhile, the US military offensive in Nigeria is also impacting oil prices. The US recently launched a deadly offensive against the Islamic State group in northwest Nigeria, an OPEC member...
Silver prices continued to set new record highs, rising 2.7% to $73.78 per ounce, marking their fifth consecutive session of gains. This rise was driven by speculative inflows and ongoing supply imbalances stemming from the historic short squeeze in October. Meanwhile, gold also approached its record high above $4,525 per ounce set last Wednesday, driven by escalating geopolitical tensions, particularly in Venezuela, where the US has blocked oil tankers. In addition to tensions in Venezuela, the US has launched an offensive against terrorist groups in Nigeria, adding to global tensions and...