Oil prices fell on Friday (January 30th) after a three-day rally, as risk-off sentiment swept the market: Asian stocks weakened and the dollar strengthened, making dollar-denominated commodities less attractive. In Asian trading, Brent fell back below $70/barrel and WTI weakened to around $64/barrel, after breaking through $70 the previous day for the first time since…
Silver (XAG/USD) suddenly reversed direction on Thursday after a frenzied rally that briefly hit an intraday record of $121.65/oz. Following the euphoria, the market began locking in profits—resulting in wild swings. XAG/USD is now around $115.30/oz, down -1.29% today. Today’s range is very wide, from a low of $106.81 to a high of $121.65—a sign…
Gold prices fell sharply on Friday (January 30th) after the market was busy betting that the next Fed Chair would be more hawkish. Spot gold fell 4.2% to $5,172.80/oz at 07:16 GMT, after dropping more than 5% and hitting a record high of $5,594.82/oz the day before. Despite today’s loss, gold’s monthly performance remains impressive:…
Oil prices continued to weaken following Donald Trump’s statement that Venezuela would hand over tens of millions of barrels of crude oil to the United States. Brent oil fell to near US$60 per barrel, while WTI hovered around US$56, extending its decline since the beginning of the year. Trump stated that up to 50 million…
The silver market remains firmly focused on the fundamentals that support today’s high prices. Despite some corrections in recent days, the underlying structure of the silver market remains tight due to limited supply and continued rising demand from the industrial and investment sectors. Global physical silver stocks are expected to dwindle as new production is…
The global gold price remains stable at around $4,500 per ounce after three consecutive days of sharp gains. Traders are now more focused on US economic data due this week, rather than the geopolitical tensions heating up in several parts of the world. This price adjustment indicates investors remain cautious, awaiting the latest information that…
