Gold prices hit their highest level in six weeks as hopes for a US Federal Reserve interest rate cut this month fuelled demand. Meanwhile, silver prices on COMEX hit another record high, surpassing $58 per ounce for the first time ever. Oil prices climbed, fueled by supply worries stemming from various factors. These include the
Gold and silver prices fell on Tuesday as investors booked profits after a surge in the precious metals in the previous sessions. Oil prices eased slightly as concerns over oversupply intensified. Investors also booked profits after prices had hit a near two-week high on Monday. Base metals were largely flat from their previous close, with
Tight supplies have been fuelling the massive surge in silver prices, which has seen the metal rise more than 10% since last Friday. On Wednesday, silver prices on COMEX hit a fresh record high of $59.645 per ounce, as the metal has climbed 100% since the beginning of this year. A silver squeeze in October
Gold prices rose on Wednesday as traders anticipated another interest rate cut by the US Federal Reserve later this month. Silver eased from its record highs of more than $59 per ounce earlier in the day. But prices were still slightly higher than the previous close. Oil prices climbed as Russia said talks with the
Oil prices were steady on Thursday as Ukrainian attacks on Russian oil assets raised concerns over lower supply among investors. Meanwhile, gold prices edged lower with stronger equities limiting safe-haven appeal for the yellow metal. However, prices rebounded and were slightly higher at the time of writing. On the other hand, silver prices fell sharply
Gold prices rose on Friday after the release of the US inflation data, which ignited fresh hopes for an interest rate cut by the Federal Reserve next week. Silver surged more than 3%, tracking gains in gold as a rate cut next week seemed imminent. Lower rates boost demand for unyielding assets such as gold
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Most non-agricultural commodities rose on the last day of the week with gold consolidating above the crucial mark of $4,000-per-ounce. Oil prices also climbed on Friday after spending most of the week in the red. Prices are set for second straight weekly losses. Base metal prices rose as investors resorted to bargain-buying after most contracts
After a few weeks of sideways movements and directionless trading, gold bulls have regained control as prices rose more than 1% on Monday. “After weeks of tight sideways movement, Gold (XAU/USD) has finally broken out of its $3,901.50–$4,059.55 consolidation range, reclaiming its bullish footing and reawakening buyers who’ve been waiting for directional confirmation,” Jasper Osita,
All major commodities were in the green on Monday as gold hit two-week high on US rate cut hopes. Silver prices also surged by more than 3%, tracking gains in the yellow metal. Meanwhile, oil prices rose as well due to optimism that the US government shutdown will potentially end. Base metals were also higher