Silver’s (XAG/USD) accelerates its reversal from last week’s highs right above $39.00, to levels below $38.50, with bears testing support at Tuesday’s low of $39.35, amid a broad-based US Dollar strength on Wednesday. The US Dollar Index, which measures the value of the US Dollar against the world’s most-traded currencies, appreciates for the fourth consecutive…
Sep 30 2024, 08:41 Japan’s Nikkei 225 tumbled over 4% Monday, while Australia stocks hit a fresh high ahead of key economic data from China. Japan saw its retail sales for August climb 2.8% year on year, beating Reuters poll estimates of a 2.3% rise, and up from a revised 2.7% rise in July. The…
Oil prices moved steadily in Wednesday morning trading, with West Texas Intermediate (WTI) trading just below US$61 per barrel. Prices had previously strengthened by more than 1% on Tuesday, while Brent closed near US$65 per barrel. Market participants were weighing two main factors: a reported increase in US crude oil inventories and concerns about the…
Gold steadied just below $2,500 an ounce as investors took stock after a broad sell-off that rattled equity and commodity markets, with the weakness stoked by concerns about economic growth. Bullion was little changed after losing just 0.3% on Tuesday even as a gauge of the US dollar — a go-to asset at time of market…
Oct 26 2024, 02:08 Gold prices edged up on Friday after recovering from a profit-taking bout as Middle East tensions and U.S. election jitters supported prices, while palladium prices extended gains to 10-month highs. Spot gold was up 0.2% at $2,741.50 per ounce by 01:44 p.m. ET (1744 GMT). Prices hit a record $2,758.37 on…
Gold held steady just below its record, around $3,645/oz, after an unexpected decline in US producer prices (PPI) fueled hopes of Fed policy easing. The market now awaits the release of US CPI data Thursday evening (WIB) for confirmation of the next direction. Current market expectations price a 25 bps price cut at the Fed’s…
