Brent tries to recover from low levels amid ongoing pressures
International benchmark Brent prices rose in American trade on Monday away from two-month lows on short-covering.
The gains come amid ongoing negative pressures, with talks commencing on ending the Russian-Ukrainian war, which could lead to an end to US sanctions on Russian crude exports.
Prices
Brent rose 1.1% today to $75.17 a barrel, with a session-low at $74.22
Brent fell 0.9% on Friday after a 0.35% rise in the previous day away from December 31 lows at $74.10.
Global oil prices fell 0.5% on average last week, marking the fourth weekly loss in a row on concerns about global oversupply.
Initial Talks
Media sources reported upcoming meetings between US and Russian officials in Saudi Arabia this week to discuss ways to end the war.
US President Donald Trump said he might meet Russian President Vladimir Putin soon to discuss ending the war in Ukraine.
US Foreign Secretary Marco Rubio also said on Sunday that Europe and Ukraine will be part of any real negotiations aimed at ending the Ukrainian war.
Analysts pointed that an end to the Ukrainian war would ease the pressure on the energy market and might unlock Russian gas and oil exports to previous highs, which would weigh on prices.
US dollar hovers near two-month low amid improving risk appetite
The US dollar fell in European trade on Monday on track for the third straight loss, and about to plumb a two-month nadir amid an improving risk appetite in the global markets and as global trade tensions receded.
Recent weak US data raised doubts about the flexibility of the US economy and renewed hopes for a Fed rate cut this year.
The Index
The dollar index fell 0.15% today to 106.63, with a session-high at 106.90.
On Friday, the index lost 0.3%, plumbing a two-month trough at 106.57 following weak US data.
The index lost 1.2% last week, marking the second weekly loss in a row as markets cooled and trade tensions diminished.
Trump’s Tariffs
The global markets are relieved that US President Trump hasn’t yet implemented his reciprocal tariff plan, with his trade officials indicating each country will be dealt with separately.
US Rates
US retail sales missed expectations completely in January, in another sign of slower growth in the first quarter.
According to the Fedwatch tool, the odds of a Fed March interest rate cut rose mildly from 2.5% to 5%.
Now investors await more data and remarks from Fed officials to gauge the likelihood of upcoming rate cuts.
Silver moves towards 4-month highs as dollar tapers off
Silver prices rose in European trade on Monday, resuming gains and approaching four-week highs on strong buying momentum as the dollar weakened.
It comes amid strong demand on the white metal, especially due to retail demand as traders notice how silver remains vastly undervalued compared to gold.
Prices
Silver prices rose 1% today to $32.48 an ounce, with a session-low at $31.92.
Silver lost 0.6% on Friday, the first loss in three days on profit-taking away from a four-month high at $33.40.
Silver rose 1.1% last week, marking the fourth weekly profit in a row on strong haven demand.
The Dollar
The dollar index fell 0.15% on Monday on track for the third loss in a row, and about to pierce two-month lows at 106.57 against a basket of major rivals.
A weaker dollar makes the greenback-denominated silver futures cheaper to holders of other currencies.
The decline comes as concerns about global trade receded as US President Donald Trump held off his plans to impose reciprocal tariffs.
US Rates
US retail sales missed expectations completely in January, in another sign of slower growth in the first quarter.
According to the Fedwatch tool, the odds of a Fed March interest rate cut rose mildly from 2.5% to 5%.
Now investors await more data and remarks from Fed officials to gauge the likelihood of upcoming rate cuts.
Retail Demand
As retailers seek assets to safeguard against risks due to changing monetary policies by global central banks towards quantitative easing, it looks like silver is becoming a favorite.
The white metal is far from its record highs, which gives it a lot of room to grow and rise, especially as gold prices hit record highs recently at $2906 on February 10.
Gold surpasses $2900 as dollar weakens
Gold prices rose in European trade on Monday, resuming gains and trading once more above $2900 near record highs as the dollar weakens against major rivals.
Recent weak US data raised doubts about the flexibility of the US economy and renewed hopes for a Fed rate cut this year.
Prices
Gold prices rose 0.85% today to $2906 an ounce, with a session-low at $2878.
On Friday, gold prices fell 1.55%, marking the heftiest loss in 2025 on profit-taking away from record highs at $2942.
The precious metal rallied 0.75% last week, marking the seventh weekly profit in a row, and the longest such streak since June 2020 on haven demand.
US Dollar
The dollar index fell 0.15% on Monday on track for the third loss in a row, and about to pierce two-month lows at 106.57 against a basket of major rivals.
A weaker dollar makes the greenback-denominated gold futures cheaper to holders of other currencies.
The decline comes as concerns about global trade receded as US President Donald Trump held off his plans to impose reciprocal tariffs.
US Rates
US retail sales missed expectations completely in January, in another sign of slower growth in the first quarter.
According to the Fedwatch tool, the odds of a Fed March interest rate cut rose mildly from 2.5% to 5%.
Now investors await more data and remarks from Fed officials to gauge the likelihood of upcoming rate cuts.
SPDR
Gold holdings at the SPDR Gold Trust fell 1.14 tons on Friday to a total of 863.06 tons, the lowest since January 28.