Oil prices rose sharply Friday after a Ukrainian drone attack reportedly damaged a major oil depot in the Russian Black Sea port of Novorossiysk, potentially tightening global supply At 04:40 ET (09:40 GMT), Brent oil futures for January jumped 1.5% to $63.94 a barrel and West Texas Intermediate crude futures rose 1.7% to $59.67 a…
Silver prices remained strong in the European session on Friday, hovering around $52-53 per troy ounce. Spot data showed silver rising nearly 1% to around $52.7-53 after a sharp rally in recent weeks, and is now just slightly below the historical high of $53.55 reached in mid-October. Within a week, silver had risen several dollars…
US Economy Confuses Gold Market Gold prices strengthened in the Asian session on Friday, supported by growing concerns about the US economic outlook, which prompted a rush to safe-haven assets. The precious metal also headed for its first weekly gain in four weeks, having comfortably returned above the psychological level of USD 4,000 per troy…
World oil prices continue to weaken after previously plummeting by more than 4%. West Texas Intermediate (WTI) crude is now around $58 per barrel, while Brent has fallen below $63. This decline occurred after OPEC reported that global oil supply exceeded demand in the third quarter. This condition indicates that the long-awaited oil surplus is…
Silver prices rose about 1% to above $51 per ounce on Wednesday, the highest level in nearly three weeks, supported by growing expectations that the Federal Reserve will continue cutting interest rates this year. Optimism over an imminent end to the US government shutdown which would allow the release of fresh economic data, also reinforced…
Gold prices held steady after rising nearly 2% in the previous session, as traders weighed the uncertain US economic outlook, further complicated by a lack of official data. On Thursday, gold traded just below $4,200 an ounce, maintaining a fourth straight day of gains, its longest rally in a month. While US lawmakers are expected…
