The Australian Dollar (AUD) weakened against the US Dollar ahead of the release of highly anticipated US inflation data for September on Friday. Markets were also cautious following the surprising Australian employment data, which saw the unemployment rate rise to its highest level in nearly four years. This caused the probability of an interest rate…
Gold prices fell slightly below $4,100 per ounce in European trading Thursday morning, as investors took profits after significant gains in recent weeks. Optimism about easing trade tensions between the United States (US) and China prompted market participants to sell gold to lock in profits. At the same time, demand for the US dollar has…
Oil prices edged higher on Tuesday after an API report indicated US crude inventories fell by 3 million barrels, the first decline in four weeks. Brent for December delivery rose about 0.3% to $61.49/barrel, while WTI rose 0.3% to $57.42/barrel. The market awaits confirmation from official US government data (EIA) due Wednesday to determine the…
Silver prices experienced a significant decline on Tuesday, with spot prices falling around 7% to $48.49 per ounce, hitting their lowest level in months. This was the largest single-day decline since February 2021, following a sharp decline in gold, reflecting profit-taking after a long rally that took silver prices to recent record highs. Several factors…
Gold and silver retreated from record highs. Gold fell 2.9% to $4,004.26/oz the previous day after dropping 6.3% intraday, its biggest drop in over 12 years. Silver also fell more than 2% to around $47.6/oz after a 7.1% drop in the previous session. In Asia, stocks traded mixed after Wall Street ran out of steam,…
Japan’s Nikkei Stock Index fell 0.7% (October 22) to 48,988.23, dragged down by chip and metal stocks, as profit-taking followed the recent surge in these stocks. SoftBank Group fell 8.3%, Advantest fell 2.8%, while Sumitomo Metal Mining fell 5.3% and JX Advanced Metals fell 4.5%. Meanwhile, automotive stocks rose thanks to a weaker yen and…
