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…
World oil prices weakened again as the market began to worry about a global oversupply. Recent data showed that the volume of crude oil shipped by sea reached a record high, indicating that producers continue to increase volumes even as demand begins to slow. This has fueled concerns that the market will be flooded with…
Silver prices declined during Tuesday’s trading session, with the price of XAG trading at $51.65 at the time of writing. The easing of trade tensions between the United States and China has reduced investor interest in safe-haven assets. US President Donald Trump expressed confidence that the two countries would reach a trade deal soon, ahead…
